P N Gadgil Jewellers Ltd IPO Opens On September 10. Check IPO Details Issue Date Price

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P N Gadgil Jewellers Ltd IPO Opens On September 10. Check IPO Details Issue Date Price

September 11, 2024
P N Gadgil Jewellers Ltd IPO Opens On September 10. Check IPO Details Issue Date Price

P N Gadgil Jewellers Limited is coming out with an initial public offer to raise Rs. 1100 crores from the market.

Below are the details of the P N Gadgil Jewellers Limited IPO:

  • Issue opens – September 10 (Tuesday)
  • Issue closes – September 12 (Thursday)
  • Issue size – Rs. 1100 crores
  • Price band – Rs. 456 to 480 per equity share
  • Bid lot – 31 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • P N Gadgil Jewellers Limited is the second largest among the prominent organised jewellery players in Maharashtra, in terms of the number of stores as on January, 2024, which is the largest market for BIS-registered outlets in India (Source: Technopak Report). They are also the fastest growing jewellery brand amongst the key organised jewellery players in India, based on the revenue growth between Fiscal 2022 and Fiscal 2024. Their  CAGR for revenue from operations for the period between Fiscal 2022 and Fiscal 2024 was 54.63%.
  • The ‘PNG’ brand derives its legacy from the ‘P N Gadgil’ brand, which has a rich heritage dating back to 1832 and a legacy of over a century (Source: Technopak Report). Leveraging the legacy and heritage of the ‘PNG’ brand, they have created a strong brand recall and presence in Maharashtra offering a wide range of precious metal / jewellery products including gold, silver, platinum and diamond jewellery, across various price points and designs which cover the need of their customers and include collections that are specifically designed for special occasions, such as weddings, engagements, anniversaries and festivals, as well as everyday wear jewellery. Their products are primarily sold under their flagship brand, ‘PNG’, and various sub – brands, through multiple channels, including their 39 retail stores (as on July 31, 2024) and various online marketplaces, including our website.
  • As on July 31, 2024, they had expanded to 39 stores, which includes 38 stores across 21 cities in Maharashtra and Goa and one store in the U.S. with an aggregate retail area of approximately 108,282 sq. ft. All their stores are operated and managed by them with 28 being owned stores and 11 franchisee stores, on a franchisee owned and company operated (“FOCO”) model. They believe that the Company operated model allows them to exercise control over the quality of their products and ensure that their customers receive consistent experience and service across all their stores.

Issue Size : Rs. 1100 Cr

Issue break-up :

QIB – 50 % of the offer – Rs. 550.00 Cr.
NIB – 15 % of the offer – Rs. 165.00 Cr.
RET – 35 % of the offer – Rs. 385.00 Cr.

Listing : BSE & NSE

Registrar : Bigshare Services Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Thursday, September 12th, 2024.

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