Motisons Jewellers IPO: 'Retail investors would apply in it big time ignoring…,' some raise caution

livemint.com:

BSE. With strong subscription being led by interest from both retail and institutional investors , the Grey Market Premium or GMP also jumped. 'Grey market premium' indicates investors' readiness to pay more than the issue price".

It also indicates the listing gain expectations of the investors. Mr. Sandeep Chhabra, Sanjay Chhabra, Namita Chhabra, and Kajal Chhabra are among the promoters for the Motisons Jewellers IPO.

The promoters Sanjay Chhabra and Sandeep Chhabra, in past, were involved in proceedings initiated by investigation agency in relation to betting in the cricket matches of Indian Premier League. Though they have been duly discharged, any re - opening of matter could have an adverse impact on our business and reputation. Also Read- Muthoot Microfin IPO: Issue fully booked on day 2, retail portion subscribed over 2 times; GMP steady Further, Motisons Jewellers in the RHP also highlights that - Certain of its Promoters and member of our Promoter Group are involved in proceedings involving SEBI which could have an adverse impact on our business and reputation.

Also in another pointer it highlights that in past, some of its Promoters (Sanjay Chhabra and Sandeep Chhabra) and its Promoter Group Companies have contravened the provisions of the SEBI Act and Regulations made there under for which penalties in nature of fine and/or debarment from accessing capital market have been imposed by SEBI. In certain matters, our Promoter has been acquitted also. If any such violation occurs in future, it may affect the company's goodwill and future aspect.