Jaipur-based retail jeweller Motisons Jewellers has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO), with a fresh issue of 3,34,71,000 shares.
Through the IPO, the company plans to raise about Rs 130 crore, of which Rs 58 crore will be used to repay loans availed by the company from scheduled commercial banks, and Rs 71 crore for funding working capital requirements, besides general corporate purposes.
The company filed preliminary IPO papers with SEBI in September last year.
The issue has a face value of Rs 10 per equity share for the proposed share sale.
The company, in consultation with its lead banker, may consider a pre-IPO placement of up to 60,00,000 equity shares to anchor investors.
Motisons Jewellers started operations in 1997 with a showroom in Johri Bazaar in Jaipur, Rajasthan.
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