Motisons Jewellers plans IPO

Jewellery business Motisons Jewellers plans to launch an initial public offering and has filed its draft red herring prospectus with the Securities and Exchange Board of India after filing its preliminary IPO papers with SEBI in September, 2022.

The business plans to launch the IPO with a fresh issue of 33,471,000 equity shares with no offer for sale component, ET Retail reported. Morisons Jewellers is run by entrepreneurs Sanjay Chhabra and Sandeep Chhabra, sons of the late Moti Lal Chhabra.

In the 2022 financial year, Motisons Jewellers reported a profit of Rs 14.75 crore, a significant increase from its profit of Rs 9.67 crore in the 2021 financial year. The business also saw its revenue from operations increase from Rs 213.04 crore in the 2021 fiscal to Rs 314.33 crore in the 2022 financial year.

Motisons Jewellers is based in Jaipur and was first established in 1988. The brand specialises in gold, diamond, and gemstone jewellery and retails from its three flagship stores and a warehouse store in Jaipur as well as its dedicated e-commerce store, according to the brand’s website. The business’ manufacturing facilities are located in Bapu Nagar and Sitapura, Jaipur.

Motisons Jewellers plans IPO

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