PN Gadgil Jewellers IPO: The initial public offering (IPO) of retail jewelry company- P N Gadgil Jewellers will open on September 10 and close on September 12.
In preparation for this IPO, the company has decided to set an amount of 456 to 480 rupees for each share. Concerning the gray market price, it’s 180 rupees. In this sense, the stock can be listed at Rs 660.
This shows a premium of 37.50%. The estimated listing of the IPO will be on 17 September 2024. Let us inform the world that this IPO is worth 1100 crore.
Details Of IPO
The IPO for the Maharashtra-based firm consists of an issue of equity shares of up to 850 crore rupees, as well as the offering for sale (OFS) of equity shares of around 250 crore rupees offered by the promoter SVG Business Trust.
Currently, SVG Business Trust holds a 99.9 percent stake in P N Gadgil Jewellers. The company said that it will use the funds raised from this for expansion plans and debt repayment.
Brokerage firms have estimated that their clients’ market capitalization to be higher than 6,500 crore rupees following the announcement.
Information About The Business
Let us inform you that this business was founded in the year 2013. P N Gadgil Jewellers offers a chain of precious metal or jewelry products.
It’s a collection of silver, gold platinum, diamonds, and jewelry in various pricing categories and designs under the brand name, ‘PNG’.
The company, based in Pune, provides its clients with the possibility of creating jewelry that is custom-made to fit.
The Company Has 33 Stores
The company operates 33 stores, with 32 stores spread across 18 cities in Maharashtra Maharashtra, and Goa along with one location located in the US. Each store is run and controlled by the company.
23 stores are owned by the company as well as 10 franchisee-owned stores using the FOCO (franchisee-owned and operated by the company) model.
Quick Fact
Company name: P N Gadgil Jewellers
| Company name | P N Gadgil Jewellers |
|---|---|
| IPO Date | September 10 – September 12, 2024 |
| Price Per Share | ₹456 to ₹480 |
| Gray Market Price | ₹180 |
| Possible Listing Price | ₹660 |
| Possible Listing Premium | 37.50% |
| IPO Listing Date | September 17, 2024 |
| IPO Size | ₹1100 crore |
| Equity Issue | ₹850 crore |
| Offer For Sale | ₹250 crore |
| Promoter | SVG Business Trust |
| Promoter Stake | 99.9% |
| Planned Fund Use | Expansion, Debt Repayment |
| Expected Market Cap | More than ₹6,500 crore |
| Founded Year | 2013 |
| Main Products | Silver, Gold, Platinum, Diamonds, Jewelry |
| Custom-Made Option | Yes |
| Number of Stores | 33 |
| Store Locations | 32 in Maharashtra & Goa, 1 in the US |
| Store Ownership Model | 23 Company-owned, 10 Franchisee-owned |
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