Last Updated on September 18, 2024 by Wenivesh Team
The PN Gadgil Jewellers IPO has captured attention in the market, and with the IPO subscription in full swing, the grey market premium (GMP) is a hot topic. In this blog, we’ll discuss everything about the PN Gadgil Jewellers IPO GMP today, including its IPO price, subscription dates, and more.
PN Gadgil Jewellers IPO GMP Today
As of September 11, 2024, the PN Gadgil Jewellers IPO GMP today stands at ₹240. This means that the shares are trading at a premium of 50% over the upper price band of ₹480 in the grey market. This strong GMP indicates high investor interest and potential listing gains.
| Date | GMP (₹) | Price Band (₹) | Premium (%) |
|---|---|---|---|
| Sept 11, 2024 | ₹240 | ₹480 | 50% |
IPO Price and Size Details
The IPO size is ₹1,100 crore, which consists of a fresh issue of ₹850 crore and an offer for sale of ₹250 crore by the promoter SVG Business Trust. The price band for the IPO is ₹456-₹480 per share, offering a lucrative opportunity for investors.
| Category | Details |
|---|---|
| IPO Size | ₹1,100 crore |
| Fresh Issue | ₹850 crore |
| Offer for Sale | ₹250 crore |
| Price Band | ₹456-₹480 |
#PNGadgilJewellers #IPO is open for subscription. Should you invest?
— NDTV Profit (@NDTVProfitIndia) September 11, 2024
Read: https://t.co/JkGHY7Aa0P pic.twitter.com/Pw4uId4iLR
Subscription Dates and Lot Size
The PN Gadgil Jewellers IPO opened for subscription on September 10, 2024, and will close on September 12, 2024. Investors can apply for the IPO in lots, with a minimum of 31 shares per lot. This provides flexibility for both retail and institutional investors.
| Subscription Start | Subscription End | Lot Size |
|---|---|---|
| Sept 10, 2024 | Sept 12, 2024 | 31 shares |
Company Overview and Expansion Plans
PN Gadgil Jewellers is one of Maharashtra’s leading organized jewellery players. With 33 stores across 18 cities in India and one in the USA, the company has grown rapidly. The funds raised from the IPO will primarily be used to expand their retail presence and reduce debt.
| Details | Information |
|---|---|
| Stores | 33 stores across India and USA |
| Retail Area | 95,885 sq. ft |
| Revenue FY23 | ₹4,507 crore |
| Profit FY23 | ₹94 crore |
| Expansion Plans | 12 new stores in Maharashtra |
| Debt Repayment | ₹300 crore allocated for debt repayment |
Anchor Investors and Pre-IPO Allotment
Before the IPO opened to the public, PN Gadgil Jewellers raised ₹330 crore from marquee anchor investors, including HDFC MF, Tata MF, Edelweiss MF, and others. The anchor investors were allotted 68.74 lakh shares at the upper price band of ₹480 per share, reflecting strong institutional demand.
| Anchor Investors | Amount Raised | Number of Shares | Price |
|---|---|---|---|
| HDFC MF, Tata MF, LIC MF | ₹330 crore | 68.74 lakh shares | ₹480 |
Utilization of IPO Proceeds
The proceeds from the PN Gadgil Jewellers IPO will be strategically utilized to support the company’s growth. Here’s how the company plans to use the funds:
| Purpose | Amount |
|---|---|
| Setting up new stores | ₹393 crore |
| Debt repayment | ₹300 crore |
| General corporate purposes | Remaining portion |
Financial Performance and Key Metrics
PN Gadgil Jewellers has shown strong growth in recent years, with revenue tripling from ₹2,555.63 crore in FY22 to ₹6,110.94 crore in FY24. Below are some key financial metrics:
| Metric | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue | ₹6,110.94 crore | ₹4,507.52 crore | ₹2,555.63 crore |
| Profit After Tax (PAT) | ₹154.34 crore | ₹93.70 crore | ₹69.51 crore |
| EBITDA Margin | 4.54% | 3.87% | 5.56% |
| Return on Equity (ROE) | 28.88% | 25.09% | 22.48% |
Listing and Allotment Dates
The PN Gadgil Jewellers IPO shares will be allotted to successful bidders on September 13, 2024, and the company’s stock is expected to list on the exchanges on September 17, 2024.
| Event | Date |
|---|---|
| Allotment Date | September 13, 2024 |
| Listing Date | September 17, 2024 |
Final Thoughts on PN Gadgil Jewellers IPO GMP Today
The PN Gadgil Jewellers IPO GMP today reflects strong demand and positive investor sentiment, suggesting that the stock could see a good listing premium. With expansion plans in place and impressive financials, the company is poised for long-term growth. Investors looking for both short-term listing gains and long-term value should consider this IPO.
Hope this blog On PN Gadgil Jewellers IPO GMP Today has been informative and insightful.
Please feel free to leave a comment below if you have any questions or thoughts.