Motisons Jewellers’ shares saw a significant increase in trading on Wednesday, rising by 13% to reach a new 52-week high of ₹287.85.
This surge is linked to a key event scheduled for Thursday, September 19.
The company will hold a meeting to discuss a potential stock split. Since its IPO in 2023, priced at ₹55, the stock has surged by 423%.
Company Announcement
Motisons Jewelers announced that its board will meet on Thursday, September 19, 2024, to consider splitting the company’s equity shares, which currently have a face value of ₹10 each.
A stock split is intended to improve share liquidity and make them more accessible to small investors.
IPO and Recent Developments
Since August 7, Motisons’ share price has increased by 101% from ₹141.85.
On August 14, the board approved issuing 10 million fully convertible warrants at ₹170 per share to raise ₹170 crore.
This move is aimed at attracting foreign portfolio investors (FPIs) and foreign institutional investors (FIIs).
The company’s FY24 annual report predicts steady growth in the jewellery market from 2024 to 2030, driven by rising consumer demand and technological advancements.
