P N Gadgil Jewellers IPO 52.60 times so far

12 Sep 2024 , 03:31 PM

P N Gadgil Jewellers’ initial public offering (IPO) will close on September 12. It was opened to investors on September 10. P N Gadgil Jewellers trades under the brand name “PNG” and sells a wide range of gold, silver, platinum, and diamond jewellery. The company plans to raise Rs 1,100 crore through fresh capital and the sale of secondary shares.

As of 15:20 p.m., The IPO had a total subscription of 52.60 times the number of shares issued. The retail section was booked 15.50 times, and the NII category received bids totalling 54.99 times their allotted portion.

The company maintained an IPO price range of Rs 456 to 480 per equity share. PN Gadgil Jewellers IPO has a price-to-book ratio of 42.2 times, which is comparable to its competitors with the exception of Kalyan Jewellers.

The allocation of shares is expected to be completed by September 13. The listing will most likely take place on the NSE and BSE on September 17.

P N Gadgil Jewellers trades under the brand name “PNG” and sells a wide range of gold, silver, platinum, and diamond jewellery. Their product line comprises a variety of designs and price points to appeal to a wide range of customer preferences. It is also the fastest-growing jewellery brand among India’s top organised jewellery businesses, as measured by revenue growth between Fiscal 2022 and Fiscal 2024.

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