Jaipur-based hyperlocal jewellery retail chain Motisons Jewellers has fixed the price band at ₹52-55 per equity share for its maiden initial public offer.
The IPO will open for subscription on Monday and close on Wednesday.
Investors can bid for a minimum of 250 equity shares and in multiples of 250 equity shares thereafter.
The public issue at face value of ₹10 per equity share is entirely a fresh issue of up to 2,74,71,000 equity shares with no ‘offer for sale’ component.
Motisons Jewellers is managed by second-generation entrepreneurs Sandeep Chhabra, Chairman and Whole Time Director, and Sanjay Chhabra, Managing Director, who have over two decades’ experience in the jewellery industry.
The company had commenced business through a partnership firm, Motisons Jewellers, in 1997 and became a public limited company in 2011; it has outlets in multiple locations in Jaipur.
It primarily sources finished jewellery from third-party suppliers across India and retails jewellery made of gold, diamond, kundan, apearl, silver, platinum, precious and semi-precious stones, and other metals, gold and silver coins, utensils and other artefacts.
Its product portfolio comprises over 300,000 jewellery designs that includes traditional, contemporary and combination designs for special occasions such as weddings and festivals to daily wear jewellery.
The equity shares are proposed to be listed on BSE and NSE.