Motisons Jewellers listed at ₹109 apiece on the NSE, up 98.18% over IPO price; Muthoot Microfin and Suraj Developers debuted 5.5% lower over their respective issue prices.
Jewellery retailer Motisons Jewellers, Mumbai-based realtor Suraj Estate Developers, and Muthoot Microfin, a part of Muthoot Pappachan Group, made their debut on the stock exchanges on Tuesday. While Motisons Jewellers listed at a 98% premium over the IPO price, Muthoot Microfin and Suraj Developers debuted at discount over their issue prices, in an otherwise positive broader market.
Shares of Motisons Jewellers opened at ₹109 apiece on the NSE, up 98.18% over the initial public offering (IPO) price of ₹55, which was mostly in line with Dalal Street expectations.
On the other hand, Muthoot Microfin listed at ₹275.3, down 5.4% over the IPO price of ₹291 on the NSE. In a similar trend, Suraj Developers opened 5.5% lower at ₹340 against the issue price of ₹360.
Post listings, Motisons Jewellers shares gained as much as 98.4% to ₹109.09; Muthoot Microfin declined 8.8% to hit a low of ₹265.5; and Suraj Developers dropped 10% to ₹324.05 levels.
At the time of reporting, Motisons Jewellers shares were trading at ₹103.5 level with the market capitalisation (mcap) of ₹980 crore. Shares of Muthoot Microfin were quoting at ₹273.2 with mcap of ₹4,670 crore, while Suraj Developers stood at ₹347.6 mark, with a mcap of ₹1,567 crore. Meanwhile, the BSE Sensex and NSE Nifty were trading higher with 0.5% gain each.
Ahead of the listing, Motisons Jewellers' grey market premium (GMP) zoomed 127% to ₹70 over the IPO price of ₹55 in the unlisted market, implying a listing price to be around ₹125 per share. On the other hand, Muthoot Microfin was commanding a GMP of ₹27 in the grey market, up 9% over the issue price of ₹291, indicating a subdued start on the bourses. Suraj developers was also holding a GMP of ₹15 over the IPO price, indicating listing to be around ₹375.
The ₹151.09 crore IPO of Jaipur-based jewellery Motisons Jewellers was booked 159.61 times, which is the highest in terms of subscription so far this year. As per the exchange data, retail investors' portion was booked 122.28 times and high net-worth individuals (HNIs) quota was booked 233.91 times. The segment for qualified institutional buyers (QIBs) was booked 157.4 times.
On the other hand, the ₹960 crore IPO of micro lender Muthoot Microfin was subscribed 11.52 times at close. The quota reserved for qualified institutional buyers (QIB) and NII were subscribed 17.47 times, 13.20 times. The portion set aside for retail investors and employees were booked 7.61 times and 4.95 times, respectively, during the bidding between December 18-20.
Meanwhile, the ₹400 crore public issue of Suraj Estate Developers was subscribed 16.57 times. The public issue was subscribed 9.85 times in the retail category, and 25.74 times and 20.02 times in the QIB and NII categories.