The initial public offering (IPO) of PN Gadgil Jewellers Limited is set to open on September 10, 2024, and close on September 12, 2024. Investors will have a three-day window to apply for shares of this well-known jewelry company. The price band for the IPO has been set between ₹456 and ₹480 per equity share, giving investors a range within which they can place their bids.
The total issue size of the IPO is ₹1,100 crore, which includes both a fresh issue of shares and an offer for sale by existing shareholders. The fresh issue of shares is valued at ₹850 crore, while the offer for sale is worth ₹250 crore. The fresh issue involves issuing 1.77 crore new shares, which will provide additional capital for the company to use in its expansion plans. The offer for sale, on the other hand, consists of 0.52 crore shares being sold by existing shareholders.
Retail investors have a significant portion reserved for them, with at least 35% of the net issue allocated to them. This makes the IPO accessible to individual investors who are interested in participating. To invest in the IPO, retail investors must apply for a minimum of 31 shares. At the upper price band of ₹480 per share, this translates to a minimum investment of ₹14,880. Investors can apply for more shares in multiples of 31.
The allotment of shares to investors who have applied for the IPO is expected to be completed by September 13, 2024. This is when investors will know if they have been allotted shares or not. The shares of P N Gadgil Jewellers are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 17, 2024. Once listed, the shares will be available for trading in the stock market.
Investors considering the P N Gadgil Jewellers IPO should assess the company’s financial health, business model, and the broader market conditions. This IPO represents an opportunity to invest in a well-established jewelry brand with plans for further growth. However, like any investment, it carries risks, so it is crucial to evaluate your investment goals and risk tolerance before making a decision.
