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 |
