PN Gadgil Jewellers IPO 2024: All You Need to Know About Allotment Status, GMP, and Listing Date
PN Gadgil Jewellers IPO, which recently closed its subscription period. This IPO has garnered significant attention, and investors are keen to know the latest updates regarding the allotment status, grey market premium (GMP), and the anticipated listing date.
Main Points
PN Gadgil Jewellers IPO Overview
The PN Gadgil Jewellers IPO was open for subscription from September 10 to September 12, 2024. It aimed to raise a total of ₹1,100 crore, comprising a fresh issue of ₹850 crore and an offer for sale of ₹250 crore. The price band was set between ₹456 and ₹480 per share, with a minimum lot size of 31 shares, making the minimum investment amount approximately ₹14,880.
The IPO attracted considerable interest, leading to an impressive subscription rate. By the end of the bidding period, the total subscription stood at 59.41 times, indicating strong demand from investors. Qualified Institutional Buyers (QIBs) showed exceptional enthusiasm, subscribing 136.85 times their allotted portion. Non-Institutional Investors (NIIs) followed suit with a 56.09 times subscription, while Retail Individual Investors (RIIs) subscribed 16.58 times.
Allotment Status
The allotment of shares for the PN Gadgil Jewellers IPO was finalized on September 13, 2024. Investors who applied for the IPO can check their allotment status through various online platforms.To check the allotment status on the 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.”
Alternatively, investors can check their allotment status via Bigshare Services, the registrar for the IPO. The process is similar, allowing users to check their status using their application number, Demat account, or PAN.
Grey Market Premium (GMP)
As of September 15, 2024, the GMP for the PN Gadgil Jewellers IPO is reported to be around ₹333 per share. This indicates a potential listing price of approximately ₹813, which reflects a substantial gain of about 69.38% from the upper price band of the IPO. The strong GMP suggests that investors are optimistic about the company’s performance once it lists on the stock exchanges.
Listing Date and Expectations
The shares of PN Gadgil Jewellers are scheduled to list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 17, 2024. Given the robust subscription figures and the positive GMP, market analysts anticipate a strong debut for the company on the bourses.
Financial Performance
PN Gadgil Jewellers has shown impressive financial growth. For the fiscal year ending March 31, 2024, the company’s revenue increased by 34%, and profit after tax (PAT) rose by 65% compared to the previous year. This growth is a positive indicator for potential investors, showcasing the company’s strong market position and operational efficiency.
Business Expansion Plans
The funds raised from the IPO are earmarked for various purposes, including the establishment of 12 new stores in Maharashtra, debt repayment, and other general corporate purposes. This expansion strategy is expected to enhance the company’s footprint in the competitive jewellery market, further driving growth.
Market Sentiment
Despite the IPO being somewhat overshadowed by other recent offerings, such as Bajaj Housing Finance, PN Gadgil Jewellers has managed to capture investor interest. The company’s reputation in the jewellery sector, coupled with its growth trajectory, has led to a favorable outlook among brokerage firms. Many experts recommend subscribing to the IPO for long-term gains, citing the company’s experienced management and sound financial track record.
Investor Guidance
For those who participated in the PN Gadgil IPO, it is essential to stay updated on the allotment notifications. Investors will receive updates via SMS, email, or through their banking apps regarding the allotment status and fund debits. The expected timeline for these notifications is over the weekend or by Monday.
Final Thoughts
The PN Gadgil Jewellers IPO has generated considerable buzz in the market, with strong subscription rates and a promising GMP. As the listing date approaches, investors are keenly awaiting the debut of PN Gadgil shares on the stock exchanges. With its solid financial performance and expansion plans, PN Gadgil Jewellers is poised for a bright future in the jewellery industry.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
