Motisons Jewellers is a Jaipur-based jewellery house that has spent nearly three decades turning a single 304-square-foot shop into a publicly listed, vertically integrated retailer - it designs, makes and sells its own gold, diamond and kundan jewellery, controlling the product from sketch to showcase. Founded in 1997 in the narrow lanes of Johri Bazar and listed on the NSE and BSE in December 2023, the company has grown to four showrooms across Jaipur, anchored by a 16,000-square-foot flagship, while keeping every step of creation in-house. The recurring approach is simple: own the manufacturing, refresh the designs relentlessly, and sell through your own stores - no middlemen, no wholesale dilution of the brand. # Business segments A single, integrated jewellery business that designs, makes and sells gold, diamond and kundan jewellery through its own showrooms and online channels - one engine, run from end to end. ## 1. Jewellery retail and manufacturing: the family jeweller that makes what it sells **Motisons is a vertically integrated jewellery house - it designs the pieces, manufactures them in its own workshops, and sells them through its own Jaipur showrooms, keeping the entire margin chain inside the company.** - **Over 300,000 batches of jewellery on offer** - the company carries a wide range of products across gold, diamond, kundan, pearl, silver and platinum jewellery, plus coins, utensils and artifacts, so a customer walking into any showroom finds everything from wedding sets to daily-wear pieces under one roof. - **Designs refresh every quarter** - an in-house R&D team tracks fashion trends and regional tastes, and the company adds 20% to 30% new SKUs every three months, which means repeat visitors always see something fresh. - **Made in-house, by its own artisans** - manufacturing covers the full digital and handcraft chain: CAD/CAM design, laser cutting, casting, polishing, plating and stone-setting, with craftsmen skilled in both modern casting and traditional handmade Jadao Kundan Polki work. The company also buys from external Indian vendors when needed, but the core capability sits inside. - **Four Jaipur showrooms, one website** - the original Johri Bazar store, the 16,000-square-foot Motisons Tower on Tonk Road, a Vaishali Nagar location opened in 2021, and an online store that began selling in 2018 together serve both walk-in and remote buyers. Domestic sales dominate overwhelmingly; exports are a negligible sliver. - **Gold is the raw material, not just the product** - gold makes up roughly 30% to 50% of a finished piece’s cost, so the company carries substantial inventory year-round to offer choice while managing the bullion price risk that comes with it. # Group structure and partners **Motisons is a standalone, family-run company with no subsidiaries or joint ventures - it recently brought in institutional investors through a warrant issue and is preparing a larger fundraise to fuel expansion.** - **A single entity with no offshoots** - as of March 2025, the company has no subsidiary, joint venture or associate; it is one legal entity run from its Johri Bazar headquarters. - **Institutional capital brought in** - in October 2024, the company allotted one crore fully convertible warrants to three foreign portfolio investors at Rs. 170 per warrant, raising Rs. 42.5 crore upfront with the balance payable within 18 months; the warrants began converting into equity in late 2025 and early 2026. - **Share split to broaden the base** - the face value was split from Rs. 10 to Re. 1 in November 2024, a 10-for-1 move designed to make the stock more accessible to small investors. - **A larger fundraise on the horizon** - in March 2026, the board approved raising up to Rs. 350 crore through a QIP or other securities, appointing Aryaman Financial Services as the lead manager, signalling a capital build-up for the next phase of growth.