PN Gadgil Jewellers IPO, PN Gadgil Jewellers Share: PN Gadgil Jewellers is set to join the growing list of jewellery companies tapping into India’s booming IPO market. Company plans to raise ₹1,100 crore through its Initial Public Offering (IPO). PN Gadgil Jewellers Limited, a leading player in Maharashtra’s organized jewellery market, ranks as the second-largest in the state, which is home to the highest number of BIS-registered outlets in India.
PN Gadgil Jewellers IPO Key Details:
IPO Size: ₹1,100 Crore
Opening Date: Tuesday, September 10th, 2024
Closing Date: Thursday, September 12th, 2024
The IPO will consist of a fresh issue of equity shares worth ₹8,500 million and an offer for sale of equity shares worth ₹2,500 million by SVG Business Trust, the promoter selling shareholder. The overall offer size stands at equity shares valued at ₹10 each, amounting to ₹11,000 million, with the offer for sale comprising equity shares valued at ₹10 each, totaling up to ₹2,500 million by SVG Business Trust (Promoter Selling Shareholder).
The funds raised will be allocated towards the expansion of 12 new stores in Maharashtra, repayment of certain debts, and general corporate purposes. PN Gadgil Jewellers is recognized as the fastest-growing jewellery brand among India’s major organized players, boasting significant revenue and EBITDA growth between FY21 and FY23.
As of December 31, 2023, the company operates 33 stores, including 32 outlets in Maharashtra and Goa, and one in the U.S., covering approximately 95,885 square feet of retail space. The stores include large, medium, and small formats, managed through both owned and franchisee-operated models. Additionally, the company launched the “PNG Jewellers” mobile app in March 2022 to enhance customer engagement.
With a rich legacy dating back to 1832, PN Gadgil Jewellers offers a wide range of precious metal and jewellery products, including gold, silver, platinum, and diamond pieces, catering to various price points and occasions. The company’s managing director, Saurabh Vidyadhar Gadgil, has over 25 years of experience in the industry and has played a key role in modernizing the traditional family business into a contemporary brand.
Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited (formerly Edelweiss Securities Limited), and BOB Capital Markets Limited are the Book Running Lead Managers for this IPO.
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