PN Gadgil Jewellers' shares will be allotted to successful IPO bidders on 13 September and will be listed on the bourses next week on 17 September.
- Shares will be allotted to successful bidders on 13 September. - Shares will be listed on stock exchanges on 17 September.
- PN Gadgil Jewellers launched a Rs 1,100-crore initial public offering (IPO) on 10 September. - The IPO subscription period runs from 10 to 12 September.
- The company raised Rs 330 crore from anchor investors, including notable names like ICICI Prudential Life Insurance, Tata Mutual Fund, Axis Mutual Fund, HDFC Mutual Fund, and Goldman Sachs (Singapore).
- Bajaj Housing Finance, Kross Ltd, and Tolins Tyres are also launching IPOs during the same week.
- The IPO price band is set at Rs 456-480 per share. - The company’s market capitalisation is projected to exceed Rs 6,500 crore post-issu
- The IPO consists of a fresh issue of shares worth Rs 850 crore. - The promoter, SVG Business Trust, is offering Rs 250 crore worth of shares through an offer for sale (OFS).
- SVG Business Trust holds a 99.9% stake in PN Gadgil Jewellers.
- Rs 393 crore will be used to open 12 new stores in Maharashtra. - Rs 300 crore will be allocated towards debt repayment.
- A portion will be set aside for general corporate expenses.
- As of March 2024, PN Gadgil Jewellers had total borrowings of approximately Rs 397 crore. - The company operates 39 retail stores (as of July 2024) and sells through various online platforms.
- It offers a range of jewellery products, including gold, silver, platinum, and diamond, under its flagship brand "PNG" and other sub-brands.