 "PN Gadgil Jewellers IPO draws strong demand; GMP jumps 54% on Day 2")
PN Gadgil Jewellers ipo day 2: The initial public offering (IPO) of PN Gadgil Jewellers, which opened for public subscription on Tuesday, was fully subscribed within hours and ended the day with a two-time subscription. Demand remains robust on the second day, with the issue receiving bids for a total of 5,71,47,539 shares, according to NSE data.
As of 11:27 AM on September 11, 2024, the IPO has received the highest bids from non-institutional investors (NIIs) at 6.28 times the offered amount, followed by Retail Individual Investors (RIIs) at 4.06 times, and Qualified Institutional Buyers (QIBs) at 0.03 times.
PN Gadgil Jewellers IPO consists of a fresh issue of 17,708,334 shares and an offer for sale of 5,208,333 shares at a face value of Rs 5 each. The subscription window for PN Gadgil Jewellers IPO, which is available at a price band of Rs 456-480 with a lot size of 44 shares, will close on September 12, 2024.
PN Gadgil Jewellers grey market premium (GMP)
In the grey market, PN Gadgil Jewellers shares are commanding a premium of approximately Rs 258, or 53.75 per cent above the upper end of the issue price, reflecting strong investor interest.
Should you subscribe to the PN Gadgil Jewellers IPO?
The public issue of PN Gadgil Jewellers has garnered reviews from brokerages including Deven Choksey Research and Anand Rathi Research. READ MORE
Should you subscribe to the PN Gadgil Jewellers IPO?
The public issue of PN Gadgil Jewellers has garnered reviews from brokerages including Deven Choksey Research and Anand Rathi Research. READ MORE
PN Gadgil Jewellers IPO allotment, listing date
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The allotment of shares is expected to occur on Friday, September 13, 2024, with crediting of shares to demat accounts on Monday, September 16, 2024. PN Gadgil Jewellers shares are anticipated to list on the BSE, and NSE on Tuesday, September 17, 2024.
Bigshare Services is the registrar for the IPO, while Motilal Oswal Investment Advisors, Nuvama Wealth Management, and Bob Capital Markets are the book-running lead managers.
About PN Gadgil Jewellers
PN Gadgil Jewellers, established in 2013, operates under the brand name 'PNG' and offers a diverse collection of jewellery made from gold, silver, platinum, and diamonds. Their product range includes various designs and price points, catering to a wide spectrum of customer preferences. It is also among the fastest growing jewellery brands amongst the key organised jewellery players in India, based on the revenue growth between Fiscal 2022 and Fiscal 2024.