P N Gadgil Jewellers Limited IPO

NiftyTrader • September 10, 2024

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P N Gadgil Jewellers Limited IPO

P N Gadgil Jewellers Limited IPO opens on September 10, 2024, and closes on September 12, 2024. The allotment for the P N Gadgil Jewellers Limited IPO is anticipated to be completed on Friday, September 13, 2024. The IPO will be tentatively listed on the NSE and BSE on Tuesday, September 17, 2024.

P N Gadgil Jewellers Limited IPO’s price band is Rs 456 to Rs 480 per share. The IPO is a book-built issue of Rs,100.00 crores. The issue is a combination of a fresh issue of 1.77 crore shares.

P N Gadgil Jewellers IPO Details

IPO Date	September 10, 2024 to September 12, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹456 to ₹480 per share
Lot Size	31 Shares
Total Issue Size	22,916,667 shares (aggregating up to ₹1,100.00 Cr)
Fresh Issue	17,708,334 shares (aggregating up to ₹850.00 Cr)
Offer for Sale	5,208,333 shares of ₹10 (aggregating up to ₹250.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	118,000,000
Shareholding post-issue	135,708,334

P N Gadgil Jewellers IPO Lot Size

Investors can bid for a minimum of 31 shares and in multiples thereof. The table below depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amounts.

Application	Lots	Shares	Amount
Retail (Min)	1	31	₹14,880
Retail (Max)	13	403	₹193,440
S-HNI (Min)	14	434	₹208,320
S-HNI (Max)	67	2,077	₹996,960
B-HNI (Min)	68	2,108	₹1,011,840

P N Gadgil Jewellers IPO Objectives

The Company proposes to utilize the Net Proceeds towards funding the following objects:

Funding expenditure towards setting up 12 new stores in Maharashtra (New Stores);
Repayment or pre-payment, in full or part, of certain borrowings availed by the Company; and
General corporate purposes.

About P N Gadgil Jewellers Limited

Established in 2013, P N Gadgil Jewellers Limited, branded as “PNG,” offers a diverse selection of precious metal jewelry, including gold, silver, platinum, and diamonds. The company features 8 gold jewelry sub-brands Saptam and Swarajya, 2 diamond sub-brands, Eiina and PNG Solitaire, and 2 platinum sub-brands, Men of Platinum and Evergreen Love. PNG also provides bespoke jewelry services. As of December 31, 2023, it operates 33 stores, including 32 in Maharashtra, Goa, and one in the US, totaling approximately 95,885 sq. ft. of retail space. The store network includes 23 owned and 10 franchise-operated locations, with a mix of large, medium, and small formats. The company employed 1,152 people as of September 30, 2023.

P N Gadgil Jewellers Limited Financial Information

P N Gadgil Jewellers Limited’s revenue increased by 34% and profit after tax (PAT) rose by 65% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	1,464.98	1,062.55	1,110.24
Revenue	6,119.1	4,559.31	2,586.31
Profit After Tax	154.34	93.7	69.52
Net Worth	534.38	365.73	282.01
Reserves and Surplus		255.53	191.22
Total Borrowing	396.5	283.21	294.93
			Amount in ₹ Crore

P N Gadgil Jewellers IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Offer
Retail Shares Offered	Not less than 35.00% of the Net Issue
NII (HNI) Shares Offered	Not less than 15.00% of the Net Issue

P N Gadgil Jewellers IPO Timeline

P N Gadgil Jewellers IPO opens on September 10, 2024, and closes on September 12, 2024.

IPO Open Date	Tuesday, September 10, 2024
IPO Close Date	Thursday, September 12, 2024
Basis of Allotment	Friday, September 13, 2024
Initiation of Refunds	Monday, September 16, 2024
A credit of Shares to Demat	Monday, September 16, 2024
Listing Date	Tuesday, September 17, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 12, 2024