P N Gadgil Jewellers share price: P N Gadgil Jewellers made a notable debut on the stock exchanges today. The share price of P N Gadgil Jewellers opened at ₹830 per share on the NSE, marking a 72.92% increase from its issue price of ₹480. On the BSE, the share price began trading at ₹834, representing a 73.75% rise above the issue price.
Market analysts had predicted a premium opening for P N Gadgil Jewellers, estimating an initial share price increase between 50% and 63%. The actual debut exceeded these expectations, showcasing a strong market interest in the company.
The IPO of P N Gadgil Jewellers, which ran from September 10 to September 12, saw an impressive oversubscription of 59.41 times by the final day. The Qualified Institutional Buyers (QIBs) segment was particularly enthusiastic, with a subscription rate of 136.85 times. The Non-Institutional Investor (NII) category was oversubscribed by 56.09 times, while Retail Individual Investors (RIIs) saw a subscription rate of 16.58 times.
PN Gadgil Jewellers raised ₹330 crore through this IPO, with the issue priced between ₹456 and ₹480 per share. The IPO included a lot size of 31 equity shares, with additional shares available in multiples of 31.
The IPO’s allocation was well-defined: up to 50% of the shares were reserved for QIBs, a minimum of 15% for NIIs, and at least 35% for retail investors. P N Gadgil Jewellers plans to utilize ₹300 crore to clear existing debts and invest ₹387 crore to open 12 new stores in Maharashtra by FY26. The remaining funds will be directed towards various business needs. As of February 29, the company had a debt of ₹377.45 crore.
The book-running lead managers for P N Gadgil Jewellers IPO are Motilal Oswal Investment Advisors Ltd, Nuvama Wealth Management Ltd, and Bob Capital Markets Ltd, with Bigshare Services Pvt Ltd handling the registrar duties.
In terms of grey market performance, P N Gadgil Jewellers IPO GMP today is +303.50, indicating that the shares were trading at a premium of ₹303.50 above the issue price. This suggests a strong investor willingness to pay more than the IPO price, with the anticipated listing price pegged at ₹783.5 per share, which is 63.23% higher than the top end of the IPO price band.
Disclaimer: The information provided here reflects the views and recommendations of various analysts and experts. Investors should seek advice from certified financial professionals before making any investment decisions.
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