PN Gadgil Jewellers, the second largest organized jewellery retailer in Maharashtra, has seen remarkable growth in the past few years. With its ₹1,100 crore IPO, the company has attracted significant attention from investors across the country. The issue was composed of a Fresh Issue of ₹850 crore and an Offer for Sale worth ₹250 crore, with a price band set between ₹456 and ₹480 per share.

On the final day of subscription, September 12, 2024, the IPO was subscribed 59.15 times, with strong demand from retail and institutional investors alike. The listing on the BSE NSE is tentatively scheduled for September 18, 2024, making it one of the most anticipated IPOs of the year. The retail investors' minimum lot size is 31 shares, requiring an investment of ₹14,880, while high-net-worth individuals need to invest in 14 lots (434 shares), amounting to ₹208,320.

The book-running lead managers for this issue are Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited, and BOB Capital Markets Limited, with Bigshare Services Private Limited acting as the registrar.

Grey Market Premium (GMP) Insights:

The Grey Market Premium (GMP) for PN Gadgil Jewellers IPO is currently trading between ₹290 to ₹310. While this premium reflects positive sentiment towards the company's upcoming listing, it is essential to note that GMP is not an official indicator of the IPO's success. Trading on the grey market is based purely on demand and supply and is conducted in an unregulated environment. However, analysts predict potential listing gains of 60% - 65%, making this IPO attractive for both short-term and long-term investors.

For real-time updates on the PN Gadgil IPO Grey Market Premium, you can check the Live IPO GMP Today - Finance Saathi.

Financial Performance:

PN Gadgil Jewellers has demonstrated robust financial performance in recent years. The company's revenue grew from ₹25,863.05 million in FY22 to ₹61,191.04 million in FY24, marking an impressive growth trajectory. Likewise, the EBITDA increased to ₹2,774.26 million in FY24, while the Profit After Tax (PAT) rose to ₹1,543.43 million, highlighting the company's strong operational and financial fundamentals. With a Return on Capital Employed (ROCE) of 27.31% and a Return on Equity (ROE) of 28.88%, PN Gadgil Jewellers appears to be a solid investment opportunity.

Anchor investors have shown immense confidence in this IPO, with ₹333 crore raised from investors like HDFC Trustee Capital, Nippon Life India Trustee, and Axis Mutual Fund Trustee, among others.

How to Check IPO Allotment:

The PN Gadgil Jewellers IPO allotment is expected to be finalized on September 13, 2024. Investors can check their allotment status through the registrar's website or the BSE IPO portal. Here's a step-by-step guide:

Go to the allotment status page.

Select "PN Gadgil Jewellers IPO" from the dropdown list.

Enter your application number, PAN, or DP Client ID.

Click "Submit" to view your allotment status.

Investors can visit the Finance Saathi IPO Allotment Status page for real-time updates.

Key Objectives of the IPO:

The primary objectives of the IPO proceeds are:

₹3,925.68 million will be used to set up 12 new stores in Maharashtra.

₹3,000 million will be allocated towards repayment of certain borrowings.

The remaining funds will be used for general corporate purposes.

With its extensive experience and broad portfolio of designs, PN Gadgil Jewellers caters to the preferences of customers across price points, ensuring that their brand remains a top choice among jewellery buyers. Maharashtra, which boasts the largest market for BIS-registered outlets, plays a pivotal role in the company's expansion plans.

Recommendation:

Considering the company's consistent financial performance, the attractive Grey Market Premium, and the favorable industry outlook, we recommend applying for the PN Gadgil Jewellers IPO for both listing gains and long-term investment purposes. This IPO offers a promising opportunity for retail and institutional investors alike.

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