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Motisons Jewellers stock gains over 98% in debut trade

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The stock made its debut at Rs 103.90, up 88.90% from the issue price on the BSE. Later, it zoomed 98.34% to Rs 109.09

New Delhi: Shares of Motisons Jewellers Ltd on Tuesday listed with a huge premium of over 98% against the issue price of Rs 55.

The stock made its debut at Rs 103.90, up 88.90% from the issue price on the BSE. Later, it zoomed 98.34% to Rs 109.09.

At the NSE, the stock listed at Rs 109, reflecting a sharp jump of 98.18%.

The company’s market valuation stood at Rs 994.30 crore during the early trade.

Motisons Jewellers’ initial public offer was subscribed a whopping 159.61 times on the last day of share sale on Wednesday.

The Rs 151-crore initial share sale of the Jaipur-based retail jeweller company had a price range of Rs 52-55 a share.

The public issue was entirely a fresh issue of 2.74 crore equity shares with no Offer For Sale (OFS) component.

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