IPO

P N GADGIL JEWELLERS Limited IPO

Mainboard

Listed On: Sep 17, 2024 at ₹ 830.0(NSE)

₹ 14880 /31 Shares

Check Allotment

P N GADGIL JEWELLERS IPO Details

10 Sep, 2024

Open Date

12 Sep, 2024

Close Date

13 Sep, 2024

Allotment Date

17 Sep, 2024

Listing Date

Issue Price

₹456-480 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Bigshare Services Pvt Ltd

List Price

830.0(NSE)

Listing Date

2024-09-17

Market Lot

Retail : 31 Shares (₹14,880/-)
S-HNI : 434 Shares (₹2,08,320/-)
B-HNI : 2,108 Shares (₹10,11,840/-)

Lead Manager

Motilal Oswal Investment Advisors Limited
Nuvama Wealth Management Limited
Bob Capital Markets Limited

Issue Size

Total ₹1,100 Cr :
#Fresh Issue : 17,708,334 shares(aggregating up to ₹850.0 Cr) +
#OFS : 5,208,333 shares of ₹10(aggregating up to ₹250.0 Cr)

Retail Portion

35% (Number of Retail Applications: 2,58,737 Approx),
(Number of S-HNI Applications : 2,640 Approx),
(Number of B-HNI Applications : 5,280 Approx)

Subscription

59.39 times

IPO Docs

DRHP RHP ANCHOR

P N GADGIL JEWELLERS IPO Subscription Details

As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved4,824,5603,618,421
2,412,281    1,206,140		8,442,98316,885,964
Day 1 - 10-09-24 05:00 PM0.01 x3.25
2.86 x   4.04 x		2.60 x2.00 x
Day 2 - 11-09-24 05:00 PM0.08 x15.74
15.09 x   17.06 x		6.98 x6.89 x
Day 3 - 12-09-24 05:00 PM136.85 x56.08
59.11 x   50.01 x		16.55 x59.39 x
Total No. of Applications: 39,84,354 (Approx)
Retail Subscription on the basis of Applications: Retail:14.64x BHNI:12.33x SHNI:49.50x times

P N GADGIL JEWELLERS Valuations

EPS Pre IPO

₹13.08/-

EPS Post IPO

₹11.37/-

P/E Pre IPO

36.7

P/E Post IPO

42.2

RoNW

28.88%

P N GADGIL JEWELLERS Company Financials All values are in ₹ Cr.

31-Mar-2431-Mar-2331-Mar-22
Assets1,464.981,062.551,110.24
Revenue6,119.14,559.312,586.31
Profit After Tax154.3493.769.52

About The Company

P N GADGIL JEWELLERS is the second biggest organized jewellery company in Maharashtra, India due to its solid brand footing and presence in area. Furthermore, it is a rapidly expanding jewellery brand in India, operating in the Maharashtra region. The company offers extensive selection to its clientele for precious metal/jewellery items, including gold, silver, platinum, and diamond jewellery, from varying price points and designs. As of Dec 31, 2023, the firm had 33 outlets and all its stores are operated and manage under the franchisee-owned (FOCO) and company-operated (COCO) models. Following the IPO, the business intends to extend its network by building 12 new stores in Maharashtra over the course of 3 years, all funded by the IPO proceeds.

Read More

P N GADGIL JEWELLERS - Strength and Weakness

Strength

P N Gadgil Jewellers Limited boasts a well-established and trusted legacy brand in Maharashtra. With 33 stores, the company offers a diverse range of designs and products across gold, diamond, silver, and platinum, catering to various occasions and preferences.

As the second largest organised retail jewellery player in Maharashtra, P N Gadgil Jewellers Limited is strategically positioned for growth. With a focus on expanding its footprint in Tier II and Tier III cities, the company aims to capitalise on the vast market potential in Maharashtra. The Indian jewellery retail sector's expected growth also presents ample opportunities for the company to solidify its market presence.

The company's diverse product portfolio, comprising over 10,000 SKUs in gold, 1,200 SKUs in silver, 2,700 SKUs in platinum, and 24,000 SKUs in diamond jewellery designs, caters to a wide range of customer preferences and price points. Utilising its brand strength and understanding of consumer needs in Maharashtra, P N Gadgil Jewellers Limited curates designs that resonate with local tastes while also appealing to broader consumer segments.

Backed by an experienced senior management team, the company has achieved robust financial growth, evidenced by significant increases in revenue, profit, and operational efficiency over the years. This strong financial performance underscores the company's effective capital utilisation and working capital management.

Weakness

Ineffective management or expansion of the retail network, coupled with challenges in executing growth strategies, may lead to underperforming new stores, thereby negatively affecting business prospects, financial stability, and operational results.

Operating in a highly competitive market with established players offering competitive prices based on market trends and customer preferences poses a challenge to P N Gadgil Jewellers Limited's market share and profitability.

The company does not own the trademark for its key flagship PNG brand, relying instead on permissions from P N Gadgil Jewellers. This dependency poses a risk to the company's branding and licensing flexibility.

With a primary focus on Maharashtra and significant revenue reliance on the top five stores in the region, any adverse developments affecting this area could negatively impact the company's business prospects, financial condition, and operational results.

P N GADGIL JEWELLERS - Peers Comparison

P/B RatioP/E RatioRoNWNet Worth
P N Gadgil Jewellers10.642.228.8%6,119
Kalyan Jewellers15.810515.2%19.708
Senco Gold6.9044.516.3%5,341
Thangamayil Jewellery11.948.528.0%4,094

P N GADGIL JEWELLERS - Promoter(s)

Pre Issue Share Holding: N/A%

Post Issue Share Holding: N/A%

Company Promoter(s)

  1. Saurabh Vidyadhar Gadgil
  2. Radhika Saurabh Gadgil
  3. SVG Business Trust

P N GADGIL JEWELLERS IPO - Issue Objectives

  1. Funding expenditure towards setting up 12 new stores in Maharashtra (New Stores)
  2. Repayment or pre-payment, in full or part, of certain borrowings availed by our Company
  3. General corporate purposes.

P N GADGIL JEWELLERS IPO - Anchor Investors

PN Gadgil Jewellers collects Rs 330 cr from anchor investors.

ICICI Prudential Life Insurance Company, Tata Mutual Fund (MF), Axis MF, Mirae Asset MF, HDFC MF, Bandhan MF, Nippon India MF, Goldman Sachs (Singapore) Pte, Citigroup Global Markets Mauritius, Societe Generale, Troo Capital, The Jupiter Global Fund are among the anchor investors.

Other Details

Company Contact Details

P N GADGIL JEWELLERS

694 Narayan Peth, Pune - 411 030

Phone: +912024478474

Email: secretarial@pngadgil.com

Website: https://www.pngjewellers.com/

Registrar Contact Details

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Email: ipo@bigshareonline.com

Website: https://ipo.bigshareonline.com/ipo_status.html

P N GADGIL JEWELLERS IPO - FAQs

Ans. P N GADGIL JEWELLERS Limited IPO is a Mainboard IPO. The issue is priced at ₹456-480 per equity share. The minimum order quantity is 31 Shares. The IPO opens on Sep 10, 2024, and closes on Sep 12, 2024. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The P N GADGIL JEWELLERS Limited IPO opens on Sep 10, 2024 and closes on Sep 12, 2024.

Ans. The size of P N GADGIL JEWELLERS Limited IPO is Total ₹1,100 Cr : #Fresh Issue : 17,708,334 shares(aggregating up to ₹850.0 Cr) + #OFS : 5,208,333 shares of ₹10(aggregating up to ₹250.0 Cr).

Ans. The IPO price band is set between ₹456-480 per equity share.

Ans. To apply for P N GADGIL JEWELLERS Limited IPO IPO, follow the steps given below:

  • - Open the IPO Ji App or Website
  • - Find P N GADGIL JEWELLERS Limited IPO in the List of IPOs
  • - Press "Apply" Button
  • - Select Your Demat Account
  • - Select Your Shares Quantity and Submit
  • - Track Your IPO Status

Ans. The share allotment date of P N GADGIL JEWELLERS Limited IPO is Sep 13, 2024.

Ans. The P N GADGIL JEWELLERS Limited IPO will be listed on Sep 17, 2024.

Ans. Follow the steps to check the allotment status for P N GADGIL JEWELLERS Limited IPO here.