P N Gadgil IPO Day 3: Public Issue Of 192 Year Old Maharashtrian Jewellers Concludes With 28.58 Times Subscription

The national stock exchange's consolidated bid data showed that, out of the 1,68,85,964 shares that were offered for sale, bids were received for 48,26,02,668 shares of the Rs 1,100 crore initial share sale. This corresponds to a subscription of 28.58 times.

The retail individual investor (RII) quota received subscriptions 8.19 times over the portion reserved for non-institutional investors, which was subscribed 21.19 times over.

The QIB portion of initial public offer consisted of 48,24,560 shares on which total bids of 33,67,87,038 shares received, which amounts to subscription of 69.81 times.

Offer size and structure

Through its initial public offering, PN Gadgil Jewellers hopes to raise a total of Rs 1,100 crore (IPO). This includes a new share sale valued at Rs 850 crore and an offer-for-sale (OFS) of up to 52,08,333 equity shares, valued at Rs 250 crore, made by SVG Business Trust, the company's promoter.

Subscription timetable and price band

September 9 was the opening date for subscriptions to the PN Gadgil Jewellers IPO. With a price range of Rs 456–Rs 480 per share, the jewelry retail chain's initial public offering (IPO) is scheduled to conclude on September 12.

Investment from anchor book

An initial public offering (IPO) on Monday saw investors including Troo Capital, Citigroup Global Markets Mauritius, Societe Generale, Goldman Sachs (Singapore) Pte, Tata Mutual Fund (MF), Mirae Asset MF, Axis MF, HDFC MF, Nippon India MF, and Bandhan MF contribute a total of Rs 330 crore to the Maharashtra-based company.

33 funds purchased the maximum number of shares from the company—68.75 lakh—at a price of Rs 480 per unit.

P N Gadgil jewellers financials

The company reported a net profit of Rs 43.75 crore on revenue of Rs 2,631.15 crore for the six months ended September 30, 2023. The company's net profit for the fiscal year that ended on March 31, 2023, was Rs 93.7 crore, while its revenue came to Rs 4,559.31 crore.