PN Gadgil Jewellers IPO: After the announcement of PN Gadgil Jewellers IPO allotment status, allottees and stock market observers are eagerly waiting for the PN Gadgil Jewellers IPO listing date, which is most likely on 17th September 2024, i.e. on tomorrow's. In the wake of the 'T+3' listing rule, the public must list within three working days after the subscription date. Bidding for the PN Gadgil Jewellers IPO closed on 12th September 2024; hence, PN Gadgil Jewellers' shares are expected to be listed on 17th September 2024.
Meanwhile, ahead of the PN Gadgil Jewellers IPO listing date, shares of the jewellery brand continue to trade at a higher premium. According to stock market observers, PN Gadgil Jewellers Limited shares are trading at a premium of ₹301 in the grey market today, which means PN Gadgil Jewellers IPO GMP (Grey Market Premium) today is ₹301. However, it is ₹29 lower than Friday's PN Gadgil Jewellers IPO GMP of ₹330. They said a dip in the grey market sentiment can be attributed to the weak closing on Friday. However, they maintained that PN Gadgil Jewellers' IPO GMP is still signalling that PN Gadgil Jewellers' IPO listing is at a stellar premium.
Market observers said that PN Gadgil Jewellers IPO GMP today is ₹301, which means the grey market expects that PN Gadgil Jewellers IPO listing price will be around ₹781 ( ₹480 + ₹301). So, the grey market hints ahead of the share listing date that an allottee may expect a 63 per cent listing gain on one's investment.
However, stock market experts said that GMP is not an ideal indicator to assess the kind of listing gain that allottees may expect. They told the grey market is non-regulated and has no connection with the company's balance sheet. They advised PN Gadgil Jewellers IPO allottees to follow this basic fundamental and stick with the conviction they have developed after scanning the company's financials.
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