Hey there, future investors! Exciting news if you’re interested in the stock market and jewelry—PNG Jewelers is launching its Initial Public Offering (IPO) tomorrow. So, let’s break down what this means and why it might be worth your attention.
P N Gadgil Jewellers IPO opens for subscription on tomorrow (Tuesday, September 10). It has the highest number of stores as of January 2024. It also holds the position of being the second largest organised jewellery retailer in Maharashtra. This makes it the leading market for BIS-registered outlets in India.
PNG jewellers is of the opinion that the company-operated model enables them to maintain control over the quality of their products and ensure a consistent experience and service for their customers across all outlets. The company has witnessed strong growth in its operations over the years. It has achieved an EBITDA growth of 39.78% between Fiscal 2021 and Fiscal 2023, the highest among the major organised jewellery players in India.
Some things to know about P N Gadgil Jewellers IPO:
The issue opens for subscription on Tuesday, September 10, and closes on Thursday, September 12. The issue’s price band has been fixed in the range of ₹456 to ₹480 per equity share of face value of ₹10. The issue’s lot size is 31 equity shares and in multiples of 31 equity shares thereafter.
The proposed offering size includes a ₹850 crore new issuance and an offer by SVG Business Trust to sell up to ₹250 crore.
The jewellery company intends to allocate ₹300 crore for debt repayment. It also intends to allocate ₹387 crore from the new offering to establish 12 stores in Maharashtra by FY26. The company will utilise the remaining funds for regular business requirements. As of February 29, the firm had a debt of ₹377.45 crore.
The basis of allotment of shares for the P N Gadgil Jewellers IPO is set to be finalised on Friday, September 13.The company on September 16-17. Then, the shares will be credited to the demat account of allottees on the same day after the refund process. P N Gadgil Jewellers share price is likely to be listed on BSE and NSE on Wednesday, September 18.
The IPO of P N Gadgil Jewellers has allocated up to 50% of the shares in the public offering for qualified institutional buyers (QIB), 15% for non-institutional Institutional Investors (NII). 35% of the offer is also set aside for retail investors.
P N Gadgil Jewellers IPO GMP today or grey market premium is +230. This indicates P N Gadgil Jewellers share price were trading at a premium of ₹230 in the grey market.
What to Expect from PNG Jewelers’ IPO:
- Opening Date: The IPO will officially open tomorrow. This is your chance to buy shares of PNG Jewelers and become a part-owner of the company.
- Price Range: The company has set a price range for its shares. This is the amount you’ll need to pay per share if you decide to invest. Make sure to check this information so you can budget accordingly.
- How to Buy Shares: You’ll need to go through a brokerage account to buy shares. If you don’t have one, now’s a good time to set one up. Your broker will help you with the buying process.
- Why Invest?: PNG Jewelers has a strong brand and a solid market position. Investing in a well-established company with a good reputation can be a smart move. However, keep in mind that all investments carry some level of risk.
Things to Consider Before Investing:
- Do Your Research: Look into PNG Jewelers’ financial health, their plans for the future, and how they’ve performed in the past. This will give you a better idea of whether the investment aligns with your financial goals.
- Risk and Reward: Every investment has risks. So, it’s important to be prepared for the possibility of losing money.
- Long-Term vs. Short-Term: Decide if you’re looking for a short-term gain or if you’re willing to hold onto the shares for a longer period. This can also influence your decision on how many shares to buy.
PNG Jewelers’ IPO is a big deal, and it could be a great opportunity if you’re interested in the jewelry sector or just looking to diversify your investments. Remember to do your homework and understand both the potential rewards and risks involved.
– Ketaki Dandekar (Team Arthology)
Read more about the IPO here –