Motisons Jewellers' stock surges over 98% in debut trading

Motisons Jewellers Ltd saw an exceptional market entry on Tuesday, debuting with an astounding premium of over 98% against its issue price of Rs 55.

The stock soared on the BSE, opening at Rs 103.90, an 88.90% surge from its issue price, later climbing further to Rs 109.09, marking a significant 98.34% increase. Similarly, at the NSE, it began trading at Rs 109, reflecting an impressive 98.18% leap.

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During early trading, the company commanded a market valuation of Rs 994.30 crore. This surge comes after Motisons Jewellers' initial public offering received an overwhelming response, with a subscription rate of 159.61 times on the closing day of the share sale last Wednesday.

The IPO, amounting to Rs 151 crore, solely comprised a fresh issue of 2.74 crore equity shares, devoid of an Offer For Sale (OFS) component. Headquartered in Jaipur, this retail jeweler company garnered substantial investor interest within the market.