P N Gadgil Jewellers IPO opens tomorrow: GMP, issue details, 10 key things to know

P N Gadgil Jewellers IPO opens for subscription on tomorrow (Tuesday, September 10). P N Gadgil Jewellers holds the position of being the second largest organised jewellery retailer in Maharashtra, with the highest number of stores as of January 2024, making it the leading market for BIS-registered outlets in India, according to the Technopak Report. Additionally, the company has achieved the status of being the jewellery brand with the fastest growth rate among the major organised jewellery retailers in India, based on the increase in revenue between fiscal 2022 and fiscal 2024.

As of July 31, 2024, the organisation had expanded its presence to 39 outlets, comprising 38 stores spread across 21 cities in Maharashtra and Goa, and one store in the US, with a total retail space of about 108,282 square feet. All of the stores are operated and managed directly by the company, with 28 being company-owned and 11 operating under a franchisee-owned and company-operated (FOCO) model.

P N Gadgil Jewellers is of the opinion that the company-operated model enables them to maintain control over the quality of their products and ensure a consistent experience and service for their customers across all outlets.

The company has witnessed strong growth in its operations over the years, achieving an EBITDA growth of 39.78% between Fiscal 2021 and Fiscal 2023, the highest among the major organised jewellery players in India.

Here are the 10 key things to know about P N Gadgil Jewellers IPO:

P N Gadgil Jewellers IPO date: The issue opens for subscription on Tuesday, September 10, and closes on Thursday, September 12.

P N Gadgil Jewellers IPO price band: The issue's price band has been fixed in the range of ₹456 to ₹480 per equity share of face value of ₹10.

P N Gadgil Jewellers IPO lot size: The issue's lot size is 31 equity shares and in multiples of 31 equity shares thereafter.

Anchor investors: The allocation to anchor investors for P N Gadgil Jewellers IPO is scheduled to take place today (Monday, September 9).

P N Gadgil Jewellers IPO details: The proposed offering size includes a ₹850 crore new issuance and an offer by SVG Business Trust to sell up to ₹250 crore.

P N Gadgil Jewellers IPO objective: The jewellery company intends to allocate ₹300 crore for debt repayment and intends to allocate ₹387 crore from the new offering to establish 12 stores in Maharashtra by FY26. The remaining funds will be utilised for regular business requirements. As of February 29, the firm had a debt of ₹377.45 crore.

P N Gadgil Jewellers IPO listing date and allotment details: The basis of allotment of shares for the P N Gadgil Jewellers IPO is set to be finalised on Friday, September 13. Refunds will be initiated by the company on September 16-17, and the shares will be credited to the demat account of allottees on the same day after the refund process. P N Gadgil Jewellers share price is likely to be listed on BSE and NSE on Wednesday, September 18.

Lead Manager and Registrar of P N Gadgil Jewellers IPO: The book running lead managers for the P N Gadgil Jewellers IPO are Bob Capital Markets Ltd, Nuvama Wealth Management Ltd, and Motilal Oswal Investment Advisors Ltd. The registrar for the offering is Bigshare Services Pvt Ltd.

P N Gadgil Jewellers IPO reservation: The IPO of P N Gadgil Jewellers has allocated up to 50% of the shares in the public offering for qualified institutional buyers (QIB), 15% for non-institutional Institutional Investors (NII), and 35% of the offer is set aside for retail investors.

P N Gadgil Jewellers IPO GMP today: P N Gadgil Jewellers IPO GMP today or grey market premium is +230. This indicates P N Gadgil Jewellers share price were trading at a premium of ₹230 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of P N Gadgil Jewellers share price was indicated at ₹710 apiece, which is 47.92% higher than the IPO price of ₹480.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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