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2 min read | Updated on September 13, 2024, 15:59 IST
SUMMARY
PN Gadgil Jewellers IPO is a fresh issuance of shares worth ₹850 crore and an offer-for-sale (OFS) of ₹250 crore by a promoter SVG Business Trust. Investors can apply for a minimum of one lot, comprising 31 equity shares, and in multiples after that.
PN Gadgil Jewellers is among the prominent organised jewellery players in Maharashtra
PN Gadgil Jewellers IPO: The ₹1,100-crore initial public offering (IPO) of jewellery retail chain PN Gadgil Jewellers Ltd will open for subscription on September 10. The issue, which will conclude on September 12, has fixed a price band of ₹456-₹480 per equity share.
The IPO is a fresh issuance of shares worth ₹850 crore and an offer-for-sale (OFS) of ₹250 crore by a promoter SVG Business Trust.
Investors can apply for a minimum of one lot, comprising 31 shares, and in multiples after that.
The company has reserved half of the issue for qualified institutional investors (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors.
BOB Capital Markets, Nuvama Wealth Management, and Motilal Oswal Investment Advisors are the initial share sale's book-running lead managers. Bigshare Services Pvt Ltd is the IPO's registrar.
PN Gadgil Jewellers is among the prominent organised jewellery players in Maharashtra in terms of the number of stores as of January 2024.
The company provides an array of precious metal jewellery, including gold, platinum, silver, and diamonds, across various price points. Its products are sold under the brand name 'PNG'.
As of December 31, 2023, PNG Jewellers had 33 stores, including 32 in Maharashtra and Goa and one in the United States.
The company also has eight sub-brands - Saptam, Swarajya, Rings of Love, The Golden Katha of Craftmanship, Flip, Litestyle, Eiina, PNG Solitaire, Men of Platinum, Evergreen Love, Pratha and Yoddha.
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