The share allotment for PN Gadgil Jewellers’ IPO is set to be finalised today. Shares will be allocated through a lottery system, and the process is managed by the registrar. Investors will find out how many shares they received compared to their bids.
How to Check Allotment Status
On BSE Website:
- Go to the BSE Website here.
- Select “PN Gadgil Jewellers” from the dropdown menu.
- Enter your application number or PAN number to check your allotment status.
On the Registrar’s Website:
- Visit the Bigshare Services website here.
- Choose “PN Gadgil Jewellers IPO.”
- Enter your PAN details and click search to see your status.
GMP (Grey Market Premium)
Shares are expected to list on exchanges on September 17. In the unlisted market, they are trading at a premium of ₹333, which is 70% above the issue price.
IPO Subscription
The PN Gadgil Jewellers IPO was highly popular, with a subscription rate of 59 times.
Company Background
PN Gadgil Jewellers is the second-largest organised jewellery player in Maharashtra by store count as of January 2024. It is also one of the fastest-growing jewellery brands in India, with significant revenue growth.
The company expanded to 33 stores, including 32 in Maharashtra and Goa, and one in the US, covering about 95,885 sq ft. They also launched the “PNG Jewellers” mobile app in March 2022.
In FY23, the company’s revenue jumped by 76% to ₹4,507 crore, and its profit increased by 35% to ₹94 crore. For the year ending March 2024, revenue reached ₹6,110 crore, and profit after tax was ₹154 crore.
Motilal Oswal Investment Advisors, Nuvama Wealth Management, and BOB Capital Markets are the lead managers for this IPO.
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