PN Gadgil Jewellers Shares List at 74% Premium

17 Sep 2024 , 09:50 AM

The shares of PN Gadgil Jewellers list at 74% premium on Dalal Street. The shares get listed at ₹830, 72.92% premium over the issue price on NSE and at ₹834 on BSE, 73.75% up.

On the last day of IPO, the issue has been subscribed 59.41 times with highest bids received from qualified institutional investors who booked 138.85 times of the allocated shares. The non-institutional investors (NIIs) quota was oversubscribed 56.09 times, while the retail investors’ portion saw a subscription of 16.58 times during the bidding process.

The ₹1100 crore initial public offer of PN Gadgil opened for subscription from September 10-12 and was available at an issue price of ₹458-480 per share. The IPO comprises fresh issue of equity shares worth ₹850 crore and an offer-for-sale of 52,08,333 shares.

PN Gadgil Jewellers offers gold, silver, platinum, and diamond jewellery under the brand name of “PNG” in multiple price range and designs. The Pune-based company provides its customers with the option to have custom-made jewelry.