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Motisons Jewellers raises Rs.36-Cr from 2 anchor investors

Economic Times  

Jaipur-based Motisons Jewellers has raised over INR 36 crore from anchor investors ahead of its maiden public issue. The company has allotted 66 lakh equity shares to two funds at INR 55 apiece -- the upper end of the price band. Meru Investment Fund PCC-Cell 1 bought 46 lakh equity shares amounting to INR 25.3 crore, and Zinnia Global Fund PCC-Cell Dewcap Fund purchased 20 lakh shares valued at INR 11 crore. The firm's public issue, entirely a fresh issue of 2.74 crore equity shares with a price band of INR 52-55 a share, will open on December 18 and conclude on December 20. At the upper end of the price band the IPO will fetch INR 151 crore. Holani Consultants is the book-running lead manager for the issue