P N Gadgil Jewellers IPO subscribed 5.37 times so far

11 Sep 2024 , 03:05 PM

PN Gadgil Jewellers’ initial public offering (IPO), which opened for public subscription on Tuesday, sold out in hours and closed the day with a 2 times subscription. According to BSE data, demand for the offer remained strong on the second day, with bids totalling 9,07,39,666 shares.

As of 15:01 p.m. on September 11, 2024, non-institutional investors (NIIs) had bid the most, at 11.51 times the offered amount, followed by Retail Individual Investors (RIIs) at 5.78 times and Qualified Institutional Buyers (QIBs) at 0.07 times.

PN Gadgil Jewellers’ IPO comprises of a fresh issue of 17,708,334 shares and an offer for sale of 5,208,333 shares with a face value of Rs 5.  The subscription window for PN Gadgil Jewellers IPO, which is priced between ₹456-480 with a lot size of 44 shares, will close on September 12, 2024.

The allotment of shares is planned to take place on Friday, September 13, 2024, with shares credited to demat accounts on Monday, September 16. PN Gadgil Jewellers’ shares are expected to trade on the BSE and NSE on Tuesday, September 17, 2024.

Bigshare Services is the registrar for the IPO, and Motilal Oswal Investment Advisors, Nuvama Wealth Management, and Bob Capital Markets are the book-running lead managers.

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