PN Gadgil Jewellers IPO: The IPO of PN Gadgil Jewelers, one of the largest organized jewelers in Maharashtra, is opening for investors on Tuesday, September 10. This is a big IPO. Through this, the company is trying to raise Rs 1100 crore. The company has fixed the price band of the shares between Rs 456 and Rs 480 per share. The face value of the company’s shares is Rs 10 per share. The company’s shares will be listed on NSE and BSE. The company’s shares are looking strong in the gray market. If you want to invest money in the company’s shares, then we are telling you about its details.
Know important information related to IPO
The company is going to sell a total of 22,916,667 equity shares through this IPO. In this, fresh shares of Rs 850 crore i.e. 17,708,334 equity shares have been issued. Under the Offer for Sale, shares worth Rs 250 crore i.e. 5,208,333 equity shares will be sold. In this IPO, retail investors can buy one lot of 31 shares i.e. shares worth up to Rs 14,880. At the same time, retail investors can bid on 13 lots i.e. maximum 403 shares. In this, a maximum bid of up to Rs 1,93,440 can be placed by retail investors.
Important dates related to IPO
- IPO Opening Date- Tuesday, 10 September 2024
- IPO closing date- Thursday, September 12, 2024
- Allotment date- Friday, 13 September 2024
- Date of receipt of refund- Monday, 16 September 2024
- Date for transfer of shares to demat account- Monday, 16 September 2024
- Date for crediting shares to demat account- Monday, September 16, 2024
- Listing date – Tuesday, September 12, 2024
Where will the company use the funds
The company is going to raise a fund of Rs 850 crore from the IPO. Out of this, a total of 12 new stores will be opened in different areas of Maharashtra with Rs 387 crore. Apart from this, the company will use Rs 300 crore to repay the loan. As of February 2024, the company had a total debt of Rs 377.45 crore. The rest of the money will be used to meet other corporate purposes. The company has 33 stores in Maharashtra and one in the US. Out of these, 23 are company stores and 10 are franchise stores. The total profit of the company in FY 2023 was Rs 23.7 crore, which was 34.8 percent more than last year.
How is the condition of GMP
PN Gadgil Jewelers IPO is pointing towards good earnings in the grey market. The company is maintaining a GMP of Rs 200 on Sunday, September 8, 2024. If this situation remains till the day of listing, then the company’s shares can be listed at Rs 680 at a premium of 41.67 per cent.
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