Last Day of P N Gadgil Jewellers IPO Subscription – Did you Subscribe?

P N Gadgil Jewellers, a prominent player in the jewellery market, is set to make its market debut as its Initial Public Offering (IPO) ends today. The IPO opened for subscription on September 10, 2024, and is expected to be listed on the stock exchanges, NSE and BSE, on September 18, 2024. 

P N Gadgil Jewellers IPO public issue consists of 2,37,60,963 equity shares, of which 84,42,983 shares are for retail investors, 48,24,560 shares for qualified institutional buyers (QIBs), 36,18,421 shares for non-institutional investors (NIIs) and 68,74,999 shares to anchor investors.

The IPO has set a price band of ₹456 to ₹480 per share. Retail investors are required to invest a minimum of ₹14,880 for a lot size of 31 shares. 

As of 12:15 PM on September 12, 2024, the final day of subscription, the P N Gadgil Jewellers IPO was subscribed to 13.47x. QIBs subscribed 0.86x, NIIs subscribed 33.81x, and retail investors subscribed 11.97x.

The allotment process for the P N Gadgil Jewellers IPO is anticipated to be completed on Friday, September 13, 2024. With the IPO closing today, the focus now turns to the final allotment results and the company’s future plans as it embarks on this new growth phase.

In its RHP, the company stated that the proceeds would be used to fund the expenditure towards setting up 12 new stores in Maharashtra, to prepay or repay all or a portion of certain outstanding borrowings availed by the company, and for general corporate purposes.

About P N Gadgil Jewellers Limited

P N Gadgil Jewellers provides a wide range of precious metal and jewellery products, which include platinum, gold, silver, and diamond jewellery under the PNG brand. As of July 31, 2024, the company operates 39 stores, with 38 located across 21 cities in Maharashtra and Goa, and one in the US. Between FY 2021 and FY 2023, the company achieved a notable 39.78% growth in EBITDA. 

Don’t miss out on new investment opportunities! Check out our Upcoming IPO and be among the first to invest. Grow your wealth today

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.