PN Gadgil Jewellers IPO share allotment: Steps to check status online on BSE, Bigshare Services

PN Gadgil Jewellers IPO allotment status is expected to be finalised on Friday, September 13, after the mainboard issue saw a strong demand from investors during the subscription period. The mainboard issue closed for bidding on September 12.

The initial public offering of PN Gadgil Jewellers was subscribed 59.41 times, largely driven by Qualified Institutional Buyers (QIBs). The IPO received bids for over 100.31 crore shares against 1.68 crore shares available for subscription.

The investors are waiting for the company to finalise the share allotment status after the successful subscription. The IPO listing date has been tentatively fixed as September 17. Shares of PN Gadgil Jewellers will be listed on both the BSE and NSE.

Steps to check PN Gadgil Jewellers IPO allotment status on Bigshare Services

• To check the PN Gadgil IPO allotment on Bigshare Services, visit the official website — https://ipo.bigshareonline.com/IPO_Status.html.
• From the ‘Company Selection’ section, choose ‘PN Gadgil Jewellers Limited’ — the name will appear once share allocation is finalised.
• In the ‘Selection Type’ dropdown, opt for any of these—Application Number, Beneficiary ID, or PAN.
• Complete the captcha verification.
• Click the ‘Search’ button to view your allotment status.

How to check PN Gadgil IPO allotment status on the BSE

• To check the PN Gadgil IPO allotment on the BSE website, visit the BSE IPO allotment page — https://www.bseindia.com/investors/appli_check.aspx.
• Select ‘Equity’ as the ‘Issue Type.’
• From the ‘Issue Name’ dropdown, choose ‘PN Gadgil Jewellers Limited.’
• Enter your Application Number or PAN (Permanent Account Number).
• Complete the captcha verification.
• Click the ‘Search’ button to view your allotment status.

The investors can also check the IPO allotment status on the NSE using the PAN and application number. It’s important to note that the IPO allotment details can only be checked after the company finalises the share allocation.

PN Gadgil Jewellers IPO details

The ₹1,100-crore mainboard public offer comprised a fresh issue of 1.77 crore shares to raise ₹850 crore, along with an offer-for-sale (OFS) component of 52 lakh shares, worth ₹250 crore. The IPO’s price band was fixed between ₹456 and ₹480 per share. For retail investors, the minimum investment was one lot, consisting of 31 shares, amounting to ₹14,880.

The book-running lead managers for the PN Gadgil Jewellers IPO are Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited, and Bob Capital Markets Limited. The registrar for the IPO is Bigshare Services Pvt. Ltd.

PN Gadgil Jewellers IPO objective

PN Gadgil Jewellers aims to use the proceeds from the IPO to support several key objectives. The company plans to establish 12 new stores in Maharashtra, enhancing its retail presence in the region. Additionally, the proceeds will be allocated towards repaying or pre-paying existing borrowings. A portion of the funds will also be used for general corporate purposes.

About PN Gadgil Jewellers

PN Gadgil Jewellers, established in 2013, is known for its range of precious metal and jewellery products. Operating under the brand name ‘PNG,’ the company offers gold, silver, platinum, and diamond jewellery in various designs and price ranges.

As of December 31, 2023, PN Gadgil Jewellers features eight sub-brands for gold jewellery collections catering to different occasions. The company has two sub-brands for diamond jewellery — Eiina and PNG Solitaire — and two for platinum jewellery — Men of Platinum and Evergreen Love. By the end of 2023, PN Gadgil Jewellers had 33 stores, including 32 locations across 18 cities in Maharashtra and Goa, as well as one store in the United States.