Today's stock market launch for PN Gadgil Jewellers was spectacular. On NSE, P N Gadgil Jewellers' share price started at ₹830 per share, 72.92% higher than the issue price of ₹480. P N Gadgil Jewellers shares started at ₹834 on the BSE, up 73.75% from their issue price. Market analysts predicted that P N Gadgil Jewellers' share price would open at a premium of 50% to 63%.
The IPO subscription for P N Gadgil Jewellers commenced on Tuesday, September 10, and closed on Thursday, September 12. According to BSE statistics, the jewellery store chain PN Gadgil Jewellers Ltd's initial public offering was oversubscribed by 59.41 times on the last day of bidding.
The quota for Qualified Institutional Buyers (QIBs) was subscribed 136.85 times, while the non-institutional investor category was oversubscribed 56.09 times. Retail Individual Investors (RIIs) received a subscription of 16.58 times. The PN Gadgil Jewellers IPO was completely subscribed within hours of its opening for bidding on Tuesday, and the day finished with a double subscription.
PN Gadgil Jewellers' IPO raised ₹330 crore from prominent investors. The issue's price band is set at ₹456-480/share. The issue has a lot size of 31 equity shares, which can be raised in multiples of 31 equity shares afterward.
The P N Gadgil Jewellers IPO has reserved not more than 50% of the shares for QIB, not less than 15% for NII, and not less than 35% for retail investors.
P N Gadgil Jewellers was established in 2013 and offers a diverse range of jewelry and precious metal products in a variety of price ranges and styles, including gold, silver, platinum, and diamond jewelry under the "PNG" brand.
P N Gadgil Jewellers IPO Details
SVG Business Trust would offer to sell up to ₹250 crore, followed by a fresh ₹850 crore offering.
The diamond business plans to use ₹387 crore from the new offering to develop 12 shops in Maharashtra by FY26, while also allocating ₹300 crore for debt settlement. The remaining monies will be utilized to cover routine company expenses. As of February 29, the company has a debt of ₹377.45 crore.
The book-running lead managers for the P N Gadgil Jewellers IPO are Motilal Oswal Investment Advisors Ltd, Nuvama Wealth Management Ltd, and Bob Capital Markets Ltd, while the registrar is Bigshare Services Pvt Ltd.
