PN Gadjil Jewellers IPO Subscription Status:  The initial public offering of PN Gadjil Jewellers Limited has received a stellar response from the investors from day 1 of bidding. The 1,100 crore public issue has got 59.41 times subscription till 6:12 pm on Thursday, the last day of bidding.

According to NSE data, the overwhelming bidding response was led by Qualified Institutional Buyers-subscribing 136.85 times against shares reserved for them. Subsequently, the Non-Institutional Investors segment received 56.08 times the bid and the quota reserved for retail investors got 16.58 times the subscription.

PN Gadgil Jewellers Ltd's IPO was fully subscribed to within hours after it opened for public subscription on Tuesday i.e. September 10. The Issue got impressive response on day 2 and day 3 as well.

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PN Gadjil Jewellers IPO GMP Today

The shares of PN Gadgil Jewellers IPO are trading at a whopping premium of Rs 333- Up at Rs 813 per share against Rs 480 price band, in grey market. If the GMP holds then investors can get a 69.38% earning on listing day itself.

P N Gadgil Jewellers IPO Details

The IPO was opened on September 10. The company had set a price band at Rs 456-480 and investors were allowed to place bids for a lot of at least 32 shares- with a minimum investment of Rs 14,136.

SVG Business Trust currently holds a 99.9 per cent stake in PN Gadgil Jewellers. Of the proceeds from the fresh issue, Rs 393 crore will be used for expenditure towards setting up 12 new stores in Maharashtra, and Rs 300 crore will be used for debt repayment, besides a portion for general corporate work b.

PN Gadgil Jewelers Limited offers precious metal/jewellery products including gold, silver, platinum, and diamond jewellery in various prices and designs.

The company’s products are primarily sold under its flagship brand ‘PNG’. It also has various sub-brands. The Company sells its products through multiple channels including 39 retail stores (as of July 31, 2024) and various online marketplaces including websites.

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