Motisons Jewellers stock debuts with 88% surge

New Delhi: Shares of Motisons Jewellers Ltd., on Tuesday ended with a huge premium of over 88 per cent against the issue price of Rs55. The stock made its debut at Rs103.90, up 88.90 per cent from the issue price on the BSE. During the day, it zoomed 98.34 per cent to Rs109.09. Shares of the company ended at Rs101.18, rallying 83.96 per cent.

On the NSE, the stock listed at Rs 109, reflecting a sharp jump of 98.18 per cent. Shares of the firm ended at Rs103.55, up 88.27 per cent. The company’s market valuation stood at Rs 996.08 crore. In the equity market, the 30-share BSE benchmark climbed 229.84 points or 0.32 per cent to settle at 71,336.80 points.

The Nifty advanced 91.95 points or 0.43 per cent to 21,441.35 points. Motisons Jewellers’ initial public offer was subscribed a whopping 159.61 times on the last day of share sale on Wednesday. The Rs151 crore-initial share sale of the Jaipur-based retail jeweller company had a price range of Rs52-55 a share. The public issue was entirely a fresh issue of 2.74 crore equity shares.