PN Gadgil Jewellers IPO opened to investors on September 10 to raise a sum of Rs 1,100 crore, via a combination of fresh capital and sale of secondary shares of promoters and other selling shareholders. The IPO will close on September 12. The company aims to raise over Rs 1100 crore and the fund is expected to be used for expanding foot print and setting up new stores across Maharashtra. The company also aims to pre-pay some debt on the books and undertake other general expansion initiatives.
PN Gadgil Jewellers IPO GMP
The stocks of P N Gadgil Jewellers were fetching a premium of 50% or a premium of Rs 220-230 in the grey market. It is an platform which gives indication of how the share might trade after listing. In many ways, the GMP is also indicative of the interest that investors may have in the particular counter. It is also a signal of the overall valuation and investor confidence in a particular issue. Therefore, when PN Gadgil commands 50% GMP, it can be safely assumed that users have
PN Gadgil Jewellers IPO Price Band
The company kept the IPO price band in a range of Rs 456 to Rs 480 per equity share. The minimum lot size is of 31 shares for retail investors. The fresh issuances comprises of shares with a face value of Rs 10 and totals to Rs 850 crore. That apart there is also an Offer For Share from promoters and amounts to Rs 250 crore.
P N Gadgil Jewellers IPO Allotment and Listing
The allotment of shares is likely to be finalised by September 13. The listing is expected to take place on NSE and BSE on September 17, as per the tentative schedule. A retail investor needs to buy for a minimum of one lot containing 31 shares, amounting to Rs 14,880. There are different lot sizes for small and big NIIs, ranging from Rs 2,08,320 to Rs 10,11,840.
About P N Gadgil Jewellers
The company offers a wide range of precious metal/jewellery products including gold, silver, platinum, and diamond jewellery under its brand name “PNG” in various price ranges and designs. It is one of the most popular jewellery showrooms across western India. The specialisation is in typical gold designs from Maharashtra and rest of the key regions in Western India.
BRLMs and Registrar
Motilal Oswal Investment Advisors, Nuvama Wealth Management, and BoB Capital Markets are working as the lead book runners for P N Gadgil Jewellers IPO, while Bigshare Services is the registrar for the issue.
