PN Gadgil Jewellers Limited, a retail jewellery company, is launching its initial public offering (IPO) on September 10, which will close on September 12.
The company has set a price range of Rs 456-480 per share for the IPO.
The grey market premium is currently Rs 180, which means the stock could be listed at around Rs 660, reflecting a 37.50% premium.
The estimated listing date for the IPO is September 17, 2024, and the total IPO size is Rs 1,100 crore.
IPO Structure and Purpose
The IPO includes a fresh issue of equity shares worth Rs 850 crore and an offer for sale (OFS) by the promoter, SVG Business Trust, of shares worth Rs 250 crore.
Currently, SVG Business Trust holds a 99.9% stake in PN Gadgil Jewellers.
The funds raised will be used for expansion plans and debt repayment.
After the IPO, the company’s market capitalization is expected to exceed Rs 6,500 crore.
About PN Gadgil Jewellers
Founded in 2013, PN Gadgil Jewellers offers a variety of precious metal and jewellery products, including gold, silver, platinum, and diamond jewellery under its brand “PNG.”
Customers also have the option to order custom-made jewellery.
Growing Store Network
PN Gadgil Jewellers has expanded to 33 stores, with 32 stores across 18 cities in Maharashtra and Goa,
and one store in the US. Of these, 23 are company-owned, while 10 operate under a franchisee-owned and company-operated (FOCO) model.
