The P N Gadgil Jewellers IPO, amounting to Rs 1,100.00 crores, is being issued as a book-built issue. The issue consists of a fresh issue of 1.77 crore shares, aggregating to Rs 850.00 crores, and an offer for sale of 0.52 crore shares, aggregating to Rs 250.00 crores.
The P N Gadgil Jewellers IPO is scheduled to be opened for subscription on September 10, 2024, and closed on September 12, 2024. The allotment for the P N Gadgil Jewellers IPO is expected to be finalized by Friday, September 13, 2024. The IPO is expected to be listed on BSE and NSE, with a tentative listing date set for Tuesday, September 17, 2024.
The price band for the P N Gadgil Jewellers IPO has been set at ₹456 to ₹480 per share. A minimum lot size of 31 shares has been required for an application. The minimum investment amount required by retail investors has been set at ₹14,880. For sNII, the minimum lot size investment is set at 14 lots (434 shares), amounting to ₹208,320, while for bNII, it is set at 68 lots (2,108 shares), amounting to ₹1,011,840.
Refer to P N Gadgil Jewellers IPO RHP for detailed information.
| IPO Date | September 10, 2024 to September 12, 2024 |
| Listing Date | September 17, 2024 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 456 to ₹ 480 / Share |
| Lot Size | 31 Shares |
| Total Issue Size | 22,916,667 share (Aggregating up to ₹1,100.00 Cr) |
| Fresh Issue | 17,708,334 (Aggregating up to ₹850.00 Cr) |
| Offer for Sale | 5,208,333 shares (Aggregating up to ₹250.00 Cr) |
| Employee Discount | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 118,000,000 |
| Share holding post issue | 135,708,334 |
| Market Maker portion |
P N Gadgil Jewellers IPO opens on September 10, 2024, and closes on September 12, 2024.
| IPO Open Date | September 10, 2024 |
| IPO Close Date | September 12, 2024 |
| Basis of Allotment | September 13, 2024 |
| Initiation of Refunds | September 16, 2024 |
| Credit of Shares to Demat | September 16, 2024 |
| Listing Date | September 17, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM, September 12, 2024 |
A minimum of 31 shares and multiples thereof can be bid for by investors. The table below depicts the minimum and maximum investment by retail investors and HNIs, in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 31 | Rs.14,880 |
| Retail (Max) | 13 | 403 | Rs.193,440 |
| S-HNI (Min) | 14 | 434 | Rs.208,320 |
| S-HNI (Max) | 67 | 2,077 | Rs.996,960 |
| B-HNI (Min) | 68 | 2,108 | Rs.1,011,840 |
| HNI (Min) |
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue |
The P N Gadgil Jewellers IPO offers 2,37,60,963 shares. Of these, 48,24,560 shares (20.3%) are allocated to QIBs, 36,18,421 shares (15.23%) to NIIs, 84,42,983 shares (35.53%) to RIIs, and 68,74,999 shares (28.93%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 68,74,999 28.93% |
NA |
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | 48,24,560 (20.3%) |
NA |
| NII (HNI) Shares Offered | 36,18,421 (15.23%) |
|
| bNII > ₹10L | 24,12,281 (10.15%) |
5,558 |
| sNII < ₹10L | 12,06,140 (5.08%) |
2,779 |
| Retail Shares Offered | 84,42,983 35.53% |
2,72,354 |
| Employee Shares Offered | |
|
| Total Shares Offered | 2,37,60,963 100% |
Rs 330.00 crore is raised from anchor investors by the P N Gadgil Jewellers IPO. The Anchor bid date for the P N Gadgil Jewellers IPO is set for September 9, 2024. The list of Anchor Investors for the P N Gadgil Jewellers IPO is provided.
| Bid Date | 2024-09-09 |
| Shares Offered | 68,74,999 |
| Anchor Portion Size (In Cr.) | 330.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 13, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 12, 2024 |
One of India's top jewelry brands, PN Gadgil Jewellers Limited, is well-known in Maharashtra. The company offers a large selection of jewelry made of gold, silver, platinum, and diamonds to meet the demands and tastes of different clients. PNG has a long history that dates back to 1832, and it has developed a devoted following of customers. The company offers both in-store and online shopping experiences through its network of retail locations and online platforms. PNG's success in the Indian jewelry market can be attributed to its emphasis on quality, customer service, and creative designs.
Eight sub-brands for gold jewelry, such as Saptam, Swarajya, and Rings of Love; two sub-brands for diamond jewelry, Eiina and PNG Solitaire; and two sub-brands for platinum jewelry, Men of Platinum and Evergreen Love, were among the company's offerings as of December 31, 2023. The business also offers services for custom jewelry.
P N Gadgil Jewellers has grown to 33 locations, comprising one in the United States and 32 in 18 Maharashtra and Goa cities. These locations together occupy about 95,885 square feet of retail space. The stores, which are divided into large, medium, and small formats, consist of 23 company-owned and 10 franchise-operated locations under the FOCO concept. There were 1,152 workers at the company as of September 30, 2023.
The market capitalization of P N Gadgil Jewellers IPO is Rs 6514 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 28.88% |
| ROCE | 27.31% |
| Debt/Equity | 0.74 |
| RoNW | 28.88% |
| P/BV | 10.6 |
| PAT Margin (%) | 2.53 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 13.08 | 11.37 |
| P/E (x) | 36.7 | 42.2 |
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
The Net Proceeds are proposed to be utilized by the Company towards funding the following objects:
- Expenditure towards setting up 12 new stores in Maharashtra (New Stores) is proposed to be funded.
- Repayment or pre-payment, in full or in part, of certain borrowings availed by the Company is proposed to be funded.
- General corporate purposes are proposed to be funded.
P N Gadgil Jewellers Limited 694, |
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