December 26, 2023

New Delhi, India

Motisons Jewellers: A Sparkling Premiere

Jaipur’s Motisons Jewellers set the stage on fire with a blockbuster debut, listing at a striking 98% premium over the IPO price of Rs 55. The Rs 151-crore IPO witnessed robust subscription, attracting investors across categories.

Financial Strength and Utilization:

Motisons Jewellers, a family-owned jewellery retail company, showcased robust financials with doubled net profit and a 16.5% surge in revenue in FY23. The company plans to use the IPO proceeds strategically for debt repayment and working capital.

Suraj Estate Developers: A Lukewarm Entry

Contrastingly, Suraj Estate Developers faced a tepid market reception, debuting with a 5.55% discount at ₹340, lower than the issue price of ₹360. Despite a decent subscription rate during the IPO, the market response was cautious.

IPO Subscription and Business Profile:

Suraj Estate Developers, specializing in South-Central Mumbai real estate, witnessed a 16.57 times subscription during the IPO. With a unique reliance on third-party contractors, the company completed 42 projects and operates in the ‘value luxury’ and ‘luxury’ segments.

Grey Market Premium and Market Expectations:

The Grey Market Premium for Suraj Estate IPO stands at ₹15, suggesting moderate enthusiasm. The estimated listing price indicated a 4.17% premium over the IPO price.

Conclusion:

While Motisons Jewellers celebrates a triumphant entry into the market, Suraj Estate Developers faces the challenge of a subdued debut. The varying market responses underscore the unpredictable nature of IPOs, and investors will keenly watch how these companies fare in the coming days.