P N Gadgil Jewellers is scheduled to hit the market on September 10, 2024 and close on September 12, 2024. P N Gadgil Jewellers plans to raise around ₹1,100.00 Cr through an IPO with a sale of up to 22,916,667 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
P N Gadgil Jewellers Limited started in 2013 and offers a variety of jewelry products made from precious metals like gold, silver, platinum, and diamonds under the brand name “PNG.” They have different price ranges and designs to cater to various customer needs. By the end of December 2023, the company had eight sub-brands for gold jewelry, including Saptam, Swarajya, Rings of Love, The Golden Katha of Craftmanship, Flip, Litestyle, Pratha, and Yoddha. They also have two sub-brands for diamond jewelry—Eiina and PNG Solitaire—and two for platinum jewelry—Men of Platinum and Evergreen Love. Additionally, customers can get custom-made jewelry.
As of December 31, 2023, P N Gadgil Jewellers had expanded to 33 stores, with 32 located in 18 cities across Maharashtra and Goa, and one store in the United States. The total retail space across these stores is about 95,885 sq. ft. The company manages all the stores itself, owning 23 of them and operating 10 through a franchise model. Among these stores, there are 19 large ones (2,500 sq. ft. or more), 11 medium ones (between 1,000 sq. ft. and 2,500 sq. ft.), and 3 small ones (less than 1,000 sq. ft.). By September 30, 2023, the company employed 1,152 people.
P N Gadgil Jewellers IPO Details
P N Gadgil Jewellers IPO opens on September 10, 2024, and closes on September 12, 2024. The Listing date for P N Gadgil Jewellers IPO is on September 17, 2024. The price band for IPO is ₹456 to ₹480 per share and lot size of 31 Shares.
| IPO Date | September 10, 2024 to September 12, 2024 |
| Listing Date | September 17, 2024 |
| Price | ₹456 to ₹480 per share |
| Lot Size | 31 Shares |
| Issue Size | ₹1,100.00 Cr |
| Face Value | ₹10 per share |
P N Gadgil Jewellers IPO Tentative Timetable
P N Gadgil Jewellers opening date is September 10, 2024 and close date is September 12, 2024. The IPO allotment date is September 13, 2024. Therefund initiation of IPO is on September 16, 2024. The credit of shares in demat account is on September 16, 2024. The listing date is on September 17, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 10, 2024 |
| IPO Closing | September 12, 2024 |
| IPO Allotment Date | September 13, 2024 |
| Refund Initiation | September 16, 2024 |
| Shares Credit to Demat | September 16, 2024 |
| Lisiting Date | September 17, 2024 |
P N Gadgil Jewellers IPO Lot Size
Lot Size of this IPO is 31 shares. A retail-individual investor can apply for up to 13 lots (403 shares or ₹193,440.).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 31 | ₹14,880 |
| Retail(Maximum) | 13 | 403 | ₹193,440 |
| S-HNI (Minimum) | 14 | 434 | ₹208,320 |
| B-HNI (Minimum) | 68 | 2,108 | ₹1,011,840 |
P N Gadgil Jewellers IPO Promoter Holding
| Pre Issue Share Holding | |
| Post Issue Share Holding |
P N Gadgil Jewellers IPO Review
The company is launching its first IPO, which includes a new issue of equity shares worth Rs. 850 crore (about 1.77 crore shares at the highest price).
There will also be an Offer for Sale (OFS) worth Rs. 250 crore (around 52 lakh shares at the highest price).On the financial performance front, for the last three fiscals, the company has (on a consolidated basis) posted a total income/net profit of Rs. 258.63 cr. / Rs. 69.52 cr. (FY22), Rs. 455.93 cr. / Rs. 93.70 cr. (FY23), and Rs. 611.91 cr. / Rs. 154.34 cr. (FY24).
For the last three fiscals, the company has posted an average EPS of Rs. 10.17 (fully diluted basis) and an average RoNW of 26.55%. The issue is priced at a P/BV of 10.60 based on its NAV of Rs. 45.29 as of March 31, 2024, and at a P/BV of 4.71 based on its post-IPO NAV of Rs. 102.01 per share (at the upper cap).
If we attribute FY24 annualized earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 42.22. The issue relatively appears fully priced.
The company reported PAT margins of 2.72% (FY22), 2.08% (FY23), 2.53% (FY24), and RoCE margins of 19.89%, 23.29%, 27.31% for the referred periods, respectively.
The company is the second biggest organized jewellery player in Maharashtra. It has shown consistent growth in both sales and profits for the reported periods. They are opening 12 new stores with the funds from their IPO and are planning to expand further. Based on the earnings for FY24, the stock seems to be priced fairly. Investors might consider investing for the medium to long term.
P N Gadgil Jewellers IPO Subscription Status (Bidding Details)
Table not foundP N Gadgil Jewellers IPO Broker Recommendations
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P N Gadgil Jewellers IPO FAQs
What is P N Gadgil Jewellers IPO?
P N Gadgil Jewellers is issuing 22,916,667 equity shares with a face value of ₹10 each, totaling up to ₹1,100.00 Cr. The shares are being offered at a price of ₹456 to ₹480 each, with a minimum order quantity of 31 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When P N Gadgil Jewellers IPO will open?
P N Gadgil Jewellers will open on September 10, 2024 for QIB, NII, and Retail Investors.
When P N Gadgil Jewellers IPO will end?
P N Gadgil Jewellers will end on September 12, 2024.
What is P N Gadgil Jewellers IPO Size?
P N Gadgil Jewellers IPO size is ₹1,100.00 Cr.
What is P N Gadgil Jewellers IPO Price Band?
P N Gadgil Jewellers price band is ₹456 to ₹480 per share.
What is P N Gadgil Jewellers IPO Allotment Date?
P N Gadgil Jewellers allotment date is September 13, 2024.
What is P N Gadgil Jewellers IPO Listing Date?
P N Gadgil Jewellers listing date is September 17, 2024. The IPO is to be listed on BSE and NSE.
How to P N Gadgil Jewellers IPO through Zerodha?
To apply for the IPO “P N Gadgil Jewellers” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply P N Gadgil Jewellers IPO through Upstox?
To apply for the IPO “P N Gadgil Jewellers” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check P N Gadgil Jewellers IPO Allotment Status?
For P N Gadgil Jewellers IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is P N Gadgil Jewellers IPO GMP?
You can check out here: P N Gadgil Jewellers IPO GMP. Check all IPO GMP here.