Investors are eagerly awaiting the allotment of shares for the PN Gadgil Jewellers IPO. This initial public offering has generated significant buzz, with a remarkable subscription rate of 59.41 times. The IPO, which was open for bidding from September 10 to September 12, aimed to raise approximately ₹1,100 crore.
Main Points
Subscription Details
The IPO was priced in the range of ₹456 to ₹480 per share, with a minimum bid of 31 shares. The overwhelming response from investors reflects the brand’s strong reputation in the jewellery market.
- Qualified Institutional Buyers (QIBs) showed exceptional interest, subscribing 136.85 times their allotted shares.
- Non-Institutional Investors (NIIs) also participated actively, with a subscription rate of 56.09 times.
- Retail Individual Investors (RIIs) subscribed 16.58 times, indicating robust demand across all investor categories.
In total, the IPO received bids for 1,00,31,53,273 shares, while only 1,68,85,964 shares were available for allocation, showcasing the intense competition among investors.
Grey Market Premium (GMP)
The shares of PN Gadgil Jewellers are currently trading at a grey market premium (GMP) of ₹333, suggesting a potential listing price of around ₹813. This represents an impressive 69.38% gain over the upper price band of the IPO. Such a strong GMP indicates positive sentiment among investors and bodes well for the company’s market debut.
Purpose of the IPO
The funds raised through this IPO will be utilized for various strategic purposes:
- Establishing 12 new stores in Maharashtra.
- Repaying existing debts to strengthen the company’s financial position.
- Covering general corporate expenses, ensuring smooth operations and future growth.
Company Overview
PN Gadgil Jewellers, established in 2013 and based in Pune, has quickly become a prominent player in the jewellery sector. The company offers a diverse range of products, including gold, silver, platinum, and diamond jewellery, all under its flagship brand, PNG.
As of July 2024, the company operates 39 retail stores and has plans for further expansion. Their commitment to quality and customer satisfaction has positioned them as a trusted name in the industry.
How to Check PN Gadgil Jewellers IPO Allotment Status
Investors who applied for the PN Gadgil Jewellers IPO can check their allotment status through the following methods:
- BSE Website:
- Visit the BSE allotment status page.
- Select Equity as the issue type.
- Choose PN Gadgil Jewellers Ltd from the dropdown list.
- Enter your application number and PAN card details.
- Complete the CAPTCHA and click Submit.
- Bigshare Services Portal:
- Go to the Bigshare Services website.
- Select PN Gadgil Jewellers Ltd from the list.
- Choose your preferred method (Application Number, Beneficiary ID, or PAN ID).
- Enter the required information and complete the CAPTCHA.
- Click Search to view your allotment status.
Upcoming Listing
The shares of PN Gadgil Jewellers are expected to list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 17, 2024. Investors are keenly anticipating this event, as the positive GMP suggests a strong opening for the stock.
PN Gadgil Jewellers IPO Market Sentiment
Analysts and brokerage firms are largely optimistic about the IPO, citing the company’s strong financial performance and growth potential. The company’s revenue from operations saw a significant jump of 76% year-on-year, reaching ₹4,507 crore in FY23. The profit after tax also increased by 35% to ₹94 crore. Such impressive figures underscore the brand’s robust market position and operational efficiency.
However, potential investors should remain cautious of certain risks, including fluctuations in gold prices and high working capital needs, which could impact profitability.
PN Gadgil Jewellers IPO Final Thoughts
As the allotment day unfolds, investors are hopeful for positive outcomes. The PN Gadgil Jewellers IPO has certainly captured the attention of the market, and its successful listing could pave the way for more companies in the jewellery sector to explore public offerings in the future.
