Motisons Jewellers Share: Motisons Jewellers shares were in focus during trading today on Wednesday. The company’s shares rose by 13% today to a new 52-week high of Rs 287.85. The reason behind this rise in shares is a meeting to be held tomorrow, Thursday, September 19. Actually, the company may consider stock split in its meeting tomorrow. Let us tell you that Motisons Jewellers’ IPO came in 2023 at ₹ 55. That is, this stock has climbed 423 percent from the IPO price till now.
What did the company say?
Motisons Jewelers said in an exchange filing that its board of members will meet on Thursday, September 19, 2024 to consider the proposal for subdivision of the company’s equity shares, currently in issue, with a face value of Rs 10 each, in the manner prescribed by the board. Companies split shares to increase the liquidity of equity shares and make them more affordable for investment. This increases the participation of small investors.
Also read: Share fell from ₹ 21 to ₹ 282, investors went crazy on the share, company announced reduction in debt Also read: This company made a big announcement, investors went crazy on the share, price came down to ₹ 84
IPO came at ₹ 55
Motisons share price has gained 101 per cent from the level of Rs 141.85 since August 7. The board had on August 14 approved the allotment of 10 million fully convertible warrants at an issue price of Rs 170 per share on a preferential basis. The board had proposed to raise Rs 170 crore by issuing warrants to foreign portfolio investors (FPIs)/foreign institutional investors (FIIs). Meanwhile, Motisons in its FY24 annual report said the jewellery market is expected to grow steadily and positively from 2024 to 2030 due to rising consumer demand, technological advancements and changing consumer preferences.
