The PN Gadgil Jewellers IPO has gained significant attention, especially within Maharashtra, the largest market for BIS-registered jewellery outlets in India. Known as the second-largest organized jewellery player in Maharashtra, P N Gadgil is also recognized as the fastest-growing jewellery brand based on revenue growth from Fiscal 2022 to 2024. The IPO, which opened on September 10, 2024, offers a total issue size of ₹1,100 crore, comprising a fresh issue of ₹850 crore and an offer for sale of ₹250 crore. The subscription period runs from September 10 to September 12, 2024, and shares are expected to list on the BSE and NSE on September 18, 2024.

IPO Details and Pricing

The price band for the IPO is set between ₹456 and ₹480 per share, with a minimum lot size of 31 shares, requiring retail investors to invest a minimum of ₹14,880. High-Net-Worth Individuals (HNIs) are required to buy a minimum of 14 lots, which totals to ₹208,320. The IPO is managed by Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited, and BOB Capital Markets Limited, while Bigshare Services Private Limited is the registrar.

Grey Market Premium

The Grey Market Premium (GMP) for PN Gadgil Jewellers IPO has been noted in the range of ₹240 to ₹250. Although the grey market provides an indication of potential listing gains, it is important to remember that this is unofficial and should only be used for informational purposes. Real price discovery will only happen once the shares are listed on the stock exchanges, and there is no official trading based on the GMP before that.

PN Gadgil's anchor investors, who have already committed ₹333 crore at the upper price band of ₹480 per share, include well-known names such as HDFC Trustee Capital, Nippon Life India Trustee, and Axis Mutual Fund Trustee. In total, 68,74,999 equity shares have been allocated to these anchor investors, signifying strong institutional interest.

For investors looking to apply, we recommend checking the live IPO Grey Market Premium (GMP) and the full anchor investor list. For more details, visit {Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi}.

Subscription and Allotment

As of September 11, 2024, the PN Gadgil Jewellers IPO subscription status shows a 6.90x oversubscription on the second day. This indicates strong demand across different investor categories. Investors can check the live subscription status on the BSE website or through authorized channels.

The allotment of shares is set for September 13, 2024, and investors can check their PN Gadgil IPO allotment status by visiting the registrar’s website. Follow these steps:

Go to the allotment status page.

Select PN Gadgil Jewellers IPO from the dropdown.

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

Submit to see your allotment status.

For real-time updates on the subscription status, visit {Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News - Finance Saathi}.

Financial Performance

PN Gadgil Jewellers has showcased robust financial growth, with revenues increasing from ₹25,863.05 million in FY22 to ₹45,593.12 million in FY23, and currently standing at ₹61,191.04 million in FY24. Similarly, the company's EBITDA has grown from ₹1,419.83 million in FY22 to ₹2,774.26 million in FY24, indicating healthy operational efficiency. The company's PAT surged from ₹695.15 million in FY22 to ₹1,543.43 million in FY24. These strong financials are driving investor interest, particularly in light of the company's ROCE of 27.31% and ROE of 28.88% for FY24.

Objectives of the IPO

The proceeds from the fresh issue will be used to:

Fund the expenditure required for setting up 12 new stores in Maharashtra.

Repay or pre-pay certain borrowings.

Address general corporate purposes.

The expansion plans will help PN Gadgil strengthen its position in Maharashtra, where it already holds a significant market share. By leveraging the brand’s strong reputation and customer base, the company is poised to expand its footprint and further grow its revenues.

Should You Invest?

Investors seeking listing gains may find the PN Gadgil Jewellers IPO to be an attractive opportunity, given the expected listing gains of 50-55%, as indicated by the current GMP. For long-term investors, the company’s strong financial performance and growth potential within the organized jewellery sector make this a compelling choice. The pre-issue EPS stands at ₹13.08, with a post-issue P/E ratio of 42.21x, lower than the industry P/E ratio of 63.31x, indicating the IPO is fairly priced.

To apply in the PN Gadgil Jewellers IPO, consider starting your stock market journey with a free Demat account. {Open your Demat Account with Choice Broking FinX now}.

For further updates on similar issues and investment opportunities, explore the Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi and stay informed with the Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News- Finance Saathi.

Join our Trading with CA Abhay Telegram Channel for stock market trading insights and the Finance Saathi Telegram Channel for regular updates on share markets and IPOs.

Start your stock market journey by opening a free demat account with Choice Broking FinX.