• Source:JND
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PN Gadgil Jewelers' share price made a blockbuster debut on the stock exchange, opening at Rs 830 per share. Shares of PN Gadgil Jewelers opened at Rs 834 apiece on the BSE, a 73.75 per cent premium over the issue price of Rs 480. On the NSE, PN Gadgil Jewelers' shares opened at Rs 830 apiece today, a 72.92 per cent premium over the issue price. After a profit booking, PN Gadgil's stock price later fell as low as Rs 781.5 apiece.

At 11:17 a.m., the stock was trading at 807.30 levels, down Rs 23 from the listing price, on NSE. PN Gadgil's shares were expected to open at a premium of 50-63 per cent.

The IPO subscription of PN Gadgil Jewelers opened on Tuesday, September 10th, and closed on Thursday, September 12th. According to BSE data, the jewellery retail chain PN Gadgil Jewelers Ltd's initial public offering was oversubscribed 59.41 times on the final day of the bidding.

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Between September 10 and September 12, Pune-based PN Gadgil offered shares in the price range of Rs 458-480 each with a lot size of 31 shares. The company was aiming to raise roughly Rs 160.01 crore through the primary offer, of which Rs 104 crore is fresh including share sale and offer-for-sale (OFS) of 3.501 million shares.

PN Gadgil Jewels IPO Details

The issue was overall subscribed 59.41 times and booked 136.85 times, thanks to strong bidding from qualified institutional bidders (QIBs). The non-institutional investor quota (NII) was subscribed 56.09 times, and the retail investor portion was subscribed 16.58 times during the bidding process.

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