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  5. PN Gadgil Jewellers Share Price Highlights: Stock settles 5% lower after listing at 72.9% premium on NSE

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PN Gadgil Jewellers Share Price Highlights: Stock settles 5% lower after listing at 72.9% premium on NSE

Upstox
By Upstox News Desk

5 min read | Updated on September 17, 2024, 15:36 IST

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SUMMARY

PN Gadgil Jewellers Share Price: PN Gadgil Jewellers IPO, which had a price range of ₹456-₹480 per share, was a combination of a fresh issuance of equity shares worth up to ₹850 crore and an offer for sale (OFS) component of shares worth ₹250 crore by promoter SVG Business Trust.

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PN Gadgil Jewellers provides precious metal/jewellery products.

PN Gadgil Jewellers Share Price Live Update at 3:36 pm: Shares of PN Gadgil Jewellers settled 5% lower at ₹787.9 apiece on the NSE after listing at a premium of 72.9%.
PN Gadgil Jewellers Share Price Live Update at 3:07 pm: The company's market capitalisation stands at ₹10,807.13 crore, as the shares declined 4% to ₹796.3 apiece.
PN Gadgil Jewellers Share Price Live Update at 2:16 pm: PN Gadgil Jewellers shares are trading 2.8% lower at ₹806.8 on the NSE after listing at a 72.9% premium.
PN Gadgil Jewellers Share Price Live Update at 12:57 pm: Trading stats
  • Traded volume (Lakhs): 212.51
  • Traded value (Crore): ₹1,729.26
  • Total market capitalisation (Crore): ₹10,993
PN Gadgil Jewellers Share Price Live Update at 12:10 pm: Price info
  • Current price: ₹808.3 (-2.4%)
  • Open: ₹830
  • High: ₹848
  • Low: ₹781.5
  • Issue price: ₹480
PN Gadgil Jewellers Share Price Live Update at 11:13 am: PN Gadgil shares are trading 2.5% lower at ₹808.5 after listing at a premium of 72.9% on the NSE.
PN Gadgil Jewellers Share Price Live Update at 10:48 am: The company's market capitalisation stands at ₹10,761.67 crore, as the shares declined 4.4% to ₹793 apiece.
PN Gadgil Jewellers Share Price Live Update at 10:21 am: Following the listing, the stock slid 0.3% to ₹827 apiece on the NSE.
PN Gadgil Jewellers Share Price Live Update at 10:00 am: PN Gadgil shares are listed at ₹830 apiece on the National Stock Exchange at a premium of 72.9% over the issue price of ₹480. It opened at ₹834, up 73.7%, on the BSE.
PN Gadgil Jewellers Share Price Live Update at 9:56 am: PN Gadgil shares listed at ₹834 apiece on the BSE at a premium of 73.7% over the issue price of ₹480.
PN Gadgil Jewellers IPO Listing Live Update at 9:48 am: Risks
  • Business is primarily concentrated in Maharashtra
  • Needs considerable working capital
  • Operates in a fragmented and largely unorganised industry
  • Dependent on third-party artisans to manufacture and produce its products
  • Sales are subject to seasonal fluxes
  • Volatility in the prices of precious metals can affect their profitability
PN Gadgil Jewellers IPO Listing Live Update at 9:38 am: Strengths
  • Well-established and trusted legacy brand
  • Well positioned as the second largest organised jewellery player in Maharashtra
  • Second-highest EBITDA growth among the major organised jewellery players in the country
  • Strong historical financial results
  • Diversified product portfolio
PN Gadgil Jewellers IPO Listing Live Update at 9:23 am: What was PN Gadgil' CAGR growth in revenue and profit between FY22 and FY24?

Between FY22 and FY24, PN Gadgil saw a compund annual growth rate (CAGR) rise of 33% in its revenue from operations and 30% in its profit. The Indian jewellery market is expected to reach ~USD 145 billion by FY28 which could benefit the company.

PN Gadgil Jewellers IPO Listing Live Update at 9:00 am: Financials
ParticularsFY22FY23FY24
Revenue₹2,555 crore₹4,507 crore₹6,110 crore
Net Profit₹69.5 crore₹93.7 crore₹154 crore
PN Gadgil Jewellers IPO Listing Live Update at 8:33 am: PN Gadgil Jewellers shares will be listed on the stock exchanges at 10 am on Tuesday, September 17.
PN Gadgil Jewellers IPO Listing Date LIVE: Shares of jewellery retail chain PN Gadgil Jewellers will be listed on the National Stock Exchange (NSE) and the BSE on Tuesday, September 17.
During the three-day bidding period from September 10 to September 12, PN Gadgil IPO received bids for over 100 crore shares against 1.68 shares on offer, leading to a total subscription of 59.41 times.
The part reserved for qualified institutional buyers received 136.85 times the subscription, while the non-institutional investors (NIIs) category was subscribed 56.08 times. The retail investors' quota attracted 16.58 times the subscription.

The Maharashtra-based jeweller's IPO, which had a price range of ₹456-₹480 per share, was a combination of a fresh issuance of shares worth up to ₹850 crore and an offer for sale (OFS) component of shares worth ₹250 crore by promoter SVG Business Trust.

Also Read: Softbank-backed Swiggy to file IPO draft papers this week to raise $1 billion: Report

Of the IPO proceeds, ₹393 crore will be used to fund expenditure for setting up new stores in Maharashtra and ₹300 crore to repay debt. A portion will also be used for general corporate purposes.

PN Gadgil Jewellers IPO listing date: About the company

PN Gadgil Jewellers provides precious metal/jewellery products, including gold, platinum, silver and diamond jewellery, at various price points and in multiple designs.

The company's products are sold under its flagship brand, 'PNG', and various sub-brands through multiple channels, including 39 retail stores (as of July 31, 2024) and various online marketplaces, including websites.

To learn more about IPO listings, schedules, and upcoming IPOs, click here.
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