Last day to apply for Motisons Jewellers IPO; should you subscribe?

livemint.com:

₹151 crore IPO of Motisons Jewellers was opened on Monday (December 18) and is set to conclude today (December 20). The initial two days of bidding witnessed an extraordinary response from investors. On the first day, the IPO was subscribed by an impressive 15.02 times, garnering a stellar response from both retail and non-institutional investors (NIIs).

This robust demand continued into the second day of bidding, resulting in an overall subscription rate of 51.50 times. Also Read: Motisons Jewellers IPO: Issue subscribed 51.50 times on day 2; NIIs, retail portion sees huge interest The price band for the offer has been fixed at ₹52–55 per equity share, with a face value of ₹10 each. Retail investors have the opportunity to submit bids for up to 14 lots, with each lot containing 250 shares.

At the upper end of the IPO price band of ₹55, retail investors are required to make a minimum investment of ₹13,750 per lot. The company's shares in the grey market are trading at ₹100 on the final day, indicating a 181% premium over the IPO price at listing. Grey market premium indicates investors' readiness to pay more than the issue price.

Also Read: Suraj Estate IPO: A look at GMP, subscription status on final day; should you buy? Motisons Jewellers is engaged in the business of selling jewellery made of gold, diamonds, and kundan. In addition, the company also sells jewellery products like pearls, silver, platinum, and other precious and semi-precious metals. In terms of its product offering and positioning, Motisons offers traditional, contemporary, and combination designs across various jewellery lines.