PN Gadgil Jewellers IPO – P N Gadgil Jewellers Ltd., a jewelry retailer based in Maharashtra, will go public on the National Stock Exchange and the Bombay Stock Exchange of the nation on September 10 and 12, a senior company executive told IndiaRetailing.
On Tuesday, September 10, the bidding for PN Gadgil Jewellers’ initial public offering (IPO) will begin. With a lot size of 31 equity shares and its multiples thereafter, the jewellery player will sell its shares for between Rs 456-480 per share. Subscriptions for the issue are open until Thursday, September 12.
The company’s IPO consists of a fresh equity offering of Rs 850 crore and an offer for sale of Rs 250 crore. Under the OFS, promoter SVG Business Trust will sell a portion of its equity.
The money acquired through the IPO are proposed to be used to support expenses related to the establishment of 12 new stores in Maharashtra, debt repayment, and other general business reasons.
P N Gadgil Jewellers IPO Details
| IPO Open Date | September 10, 2024 |
| IPO Close Date | September 12, 2024 |
| Listing Date | Tuesday, September 17, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹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 |
About the Company – PN Gadgil Jewellers
As of January 2024, PN Gadgil Jewellers is one of the most important organised jewellery players in Maharashtra in terms of store count. The company offers a wide range of precious metal jewelry, including gold, platinum, silver, and diamonds, at a variety of pricing points. Its products are marketed under the brand name ‘PNG’. As of December 31, 2023, PNG Jewellers had 33 outlets, with 32 in Maharashtra and Goa and one in the United States.
The company also offers eight sub-brands: Saptam, Swarajya, Rings of Love, The Golden Katha of Craftsmanship, Flip, Litestyle, Eiina, PNG Solitaire, Men of Platinum, Evergreen Love, Pratha, and Yoddha.
