P N Gadgil Jewellers Limited
P N Gadgil Jewellers Limited(PNGJL)
Total Shares
2,29,16,667
Issue Size
₹1,100.00
Price Band
₹456 – ₹480
Lot Size
31 shares
Min. Investment
₹14,880
Max. Investment
₹14,880
Open Date
10 Sep, 2024
Close Date
12 Sep, 2024
Allotment
13 Sep, 2024
Listing
17 Sep, 2024
Max. Investment
₹14,880
Announced
10 Sep, 2024
Opening Date
10 Sep, 2024
Closing Date
12 Sep, 2024
Basis of Allotment
13 Sep, 2024
Initiation of Refunds
16 Sep, 2024
Credit of Shares
16 Sep, 2024
Listing Date
17 Sep, 2024
Live GMP
Est. Listing: ₹660
Apply via UPI in 5 minutes
Choose your broker • Zero commission on IPO
About P N Gadgil Jewellers Limited IPO
P N Gadgil Jewellers Limited was established in 2013 and offers a wide range of precious metal/jewelry products including gold, silver, platinum, and diamond jewelry under its brand name PNG in various price ranges and designs.
As of December 31, 2023, the Company has 8 sub-brands offering gold jewelry collections for various occasions, namely Saptam, Swarajya, Rings of Love, The Golden Katha of Craftmanship, Flip, Litestyle, Pratha and Yoddha, two sub-brands offering diamond jewelry
P N Gadgil Jewellers Limited IPO Share Price and Issue Size
Issue Breakdown
Shareholding
Dilution: 15.0% increase in shares
P N Gadgil Jewellers Limited IPO Financials Health
P N Gadgil Jewellers Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| SHNI Maximum | 67 | 2077 | ₹9,96,960 |
| BHNI Minimum | 68 | 2108 | ₹10,11,840 |
| Retail Minimum | 1 | 31 | ₹14,880 |
| Retail Maximum | 13 | 403 | ₹1,93,440 |
| SHNI Minimum | 14 | 434 | ₹2,08,320 |
(All values in CR)
P N Gadgil Jewellers Limited IPO Valuation
| Metric | Value |
|---|---|
| Debt/Equity | 0.74 |
| EPS Post IPO | 6.45 |
| EPS Pre IPO | 7.94 |
| P/BV | 15.49 |
| P/E Post IPO | 74.45 |
| P/E Pre IPO | 60.45 |
| ROCE | 27.31% |
| ROE | 28.88% |
| RoNW | 28.88% |
(All values in CR)
Strength & Risk of P N Gadgil Jewellers Limited IPO
1. Well established and trusted legacy brand in Maharashtra.
2. Second largest organised retail jewellery player and one of the fastest growing brand in Maharashtra.
3. Diversified product portfolio across categories and price points.
4. Experienced Promoter and management team with proven execution capabilities.
5. Strong historical financial results.
1. The strength of the brands the company use are crucial to its success. Any reputational damage to the brand, name or logo could have an adverse effect on its financial condition, cash flows and results of operations.
2. Its inability to effectively market the company products, or any deterioration in public perception of its brand, could affect consumer footfall and consequently adversely impact its business, financial condition, cash flows and results of operations.
3. Its inability to identify market trends and customer demand accurately and maintain an optimal level of inventory in its stores may impact the company operations adversely.
4. Its business is primarily concentrated in Maharashtra and the company is significantly dependent on top five of its stores located in Maharashtra for revenue generation. Any adverse development affecting such region or stores may have an adverse effect on its business, prospects, financial condition and results of operations.
5. The Company requires significant amounts of working capital for continued growth. Its inability to meet the company working capital requirements, on commercially acceptable terms, may have an adverse impact on its business, financial condition and results of operations.
6. While the company commenced its e-commerce operations in Fiscal 2014, its focus primarily on a brick-and-mortar model to establish our physical presence in India. Since, the company operates in highly competitive and fragmented markets, and competition in these markets is based primarily on market trends, pricing and customer preferences, there can be no assurance that its can effectively compete with the company competitors in the future, and any such failures to compete effectively may have a material adverse effect on its business, financial condition, results of operations and prospects.
7. If the company is unable to effectively manage or expand its retail network and operations or open new stores operated by the Company in accordance with its business plan, or pursue the company growth strategy, its existing and new stores may not achieve its expected levels of profitability which may adversely affect the company's business prospects, financial condition and results of operations.
8. The company does not own the trademark for its key flagship PNG brand and the company requires the written approval of P N Gadgil Jewellers for assigning or sub-licensing the trademark to any person, except its Subsidiaries, joint ventures or associates or franchise partners.
9. The company are dependent on third party artisans for the production and manufacturing of all of its products. Any disruptions at such third-party production or manufacturing facilities, or shortage or scarcity of Karigars in the jewellery industry especially in Maharashtra or failure of such third parties to adhere to the relevant quality standards may have a negative effect on its reputation, business and financial condition and results of operations.
10. Its manufacturing work is done by skilled craftsmen who does not work exclusively for it which exposes the company to any risks/adverse developments affecting the skilled craftsmen.
P N Gadgil Jewellers Limited IPO Subscription Status
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 68,74,999 | 68,74,999 | 330 |
| BHNI (10L+) | 59.11 | 24,12,281 | 14,25,91,227 | 6 |
| HNI | 56.08 | 36,18,421 | 20,29,35,796 | 9 |
| QIB | 136.85 | 48,24,560 | 66,02,26,623 | 31 |
| Retail | 16.58 | 84,42,983 | 13,99,53,561 | 6 |
| SHNI (2L - 10L) | 50.03 | 12,06,140 | 6,03,44,569 | 2 |
| Total | 59.41 | 1,68,85,964 | 1,00,31,15,980 | 48 |
P N Gadgil Jewellers Limited IPO GMP
Last updated 05 Sep, 2024 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 05 Sep, 2024 | 480 | ₹180▲ | 4200/58800 | ₹660 (37.50%) | - | 05 Sep, 2024 |
| 06 Sep, 2024 | 480 | ₹165▼ | 3900/54600 | ₹645 (34.38%) | - | 06 Sep, 2024 |
| 09 Sep, 2024 | 480 | ₹234▼ | 5500/77000 | ₹714 (48.75%) | - | 09 Sep, 2024 |
| 10 Sep, 2024 | 480 | ₹240▼ | 5700/79800 | ₹720 (50.00%) | - | 10 Sep, 2024 |
| 11 Sep, 2024 | 480 | ₹258▼ | 6100/85400 | ₹738 (53.75%) | - | 11 Sep, 2024 |
| 12 Sep, 2024 | 480 | ₹268▼ | 6300/88200 | ₹748 (55.83%) | - | 12 Sep, 2024 |
| 13 Sep, 2024 | 480 | ₹333▼ | 7800/109200 | ₹813 (69.38%) | - | 13 Sep, 2024 |
| 14 Sep, 2024 | 480 | ₹345▲ | 8100/113400 | ₹825 (71.88%) | - | 14 Sep, 2024 |
| 15 Sep, 2024 | 480 | ₹330▲ | 7800/109200 | ₹810 (68.75%) | - | 15 Sep, 2024 |
| 16 Sep, 2024 | 480 | ₹303 | 7100/99400 | ₹783 (63.12%) | - | 16 Sep, 2024 |
| 17 Sep, 2024 | 480 | ₹303 | 7200/100800 | ₹783 (63.12%) | - | 17 Sep, 2024 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for P N Gadgil Jewellers Limited IPO
Login to Your Trading App
Open Zerodha, Upstox, Groww, Angel One, or any brokerage app.
Go to IPO Section
Find P N Gadgil Jewellers Limited under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
Approve Mandate on UPI App
Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.
P N Gadgil Jewellers Limited IPO Analysis
P N Gadgil Jewellers Limited is preparing to raise capital through its Initial Public Offering (IPO), aiming to fuel expansion and meet corporate objectives. This analysis breaks down the key elements of the IPO and offers insights into the pros and cons of investing.
In-Depth Analysis of P N Gadgil Jewellers Limited IPO
P N Gadgil Jewellers Limited, a renowned name in the jewelry sector, is offering its shares through an IPO. This 100% book-built offer will support the company’s growth strategy, including expanding its retail presence and increasing working capital.
Company Overview
Founded in 2013 and headquartered in Pune, Maharashtra, P N Gadgil Jewellers Limited specializes in high-quality jewelry, including gold, silver, diamonds, and precious stones. The brand has a well-established market presence, known for its craftsmanship and trusted reputation.
- Founded: 2013
- Industry: Jewelry and Retail
- Products: Gold, Silver, Diamond, and Precious Stone Jewelry
Key Details of the IPO
- IPO Size: ?11,000 million, comprising a fresh issue of ?8,500 million and an offer for sale of ?2,500 million by the promoter, SVG Business Trust.
- Use of Proceeds: The funds will be used to expand the company’s retail footprint, increase working capital, and repay existing debt.
- Listing: The equity shares will be listed on both BSE and NSE.
Pros of Investing in P N Gadgil Jewellers Limited IPO
- Strong Brand Equity: P N Gadgil is a well-established name in the Indian jewelry market with a loyal customer base and a reputation for trust and quality.
- Experienced Management: Led by seasoned professionals like Saurabh Vidyadhar Gadgil, the company benefits from years of industry experience.
- Expansion Plans: The IPO funds will be strategically deployed for expanding retail outlets, which could drive revenue growth and enhance market share.
- Growing Market: The demand for gold and jewelry, particularly in India, remains strong, offering ample growth opportunities for the company.
- Diversified Product Portfolio: The company offers a wide range of jewelry, catering to various customer segments and reducing dependency on any single product line.
Cons of Investing in P N Gadgil Jewellers Limited IPO
- Market Competition: The jewelry industry is highly competitive, with both traditional players and new entrants vying for market share.
- Economic Sensitivity: The demand for luxury goods like jewelry can fluctuate with economic conditions, making the company vulnerable to market downturns.
- Dependency on Gold Prices: Fluctuations in gold prices can impact profitability and customer buying behavior.
- Operational Risks: The company’s success hinges on effectively managing its expanded retail network, which could pose operational challenges.
Financial Performance and Market Position
P N Gadgil Jewellers has shown steady growth in its financials, with strong revenue generation and operational efficiency. However, investors should closely assess the company's debt levels and its ability to maintain profitability amid potential market challenges.
- Revenue Growth: Consistent growth driven by strong sales across retail outlets.
- Profit Margins: Healthy margins, though they are influenced by fluctuating gold prices.
- Debt Levels: Part of the IPO proceeds will be used to reduce debt, improving the company’s financial health.
Should You Invest in P N Gadgil Jewellers Limited IPO?
Investing in P N Gadgil Jewellers Limited’s IPO presents an opportunity to invest in a trusted and growing brand in the jewelry sector. With plans to expand its retail footprint and enhance working capital, the company shows strong growth potential. However, the risks posed by market competition, economic sensitivity, and fluctuating gold prices should be considered.
Conclusion
P N Gadgil Jewellers Limited’s IPO offers a compelling opportunity for investors interested in the luxury retail and jewelry space. The company’s established market presence, coupled with its expansion strategy, positions it well for future growth. However, as with any investment, potential investors must weigh the risks against the rewards before making a decision.
FAQs About P N Gadgil Jewellers Limited Ipo
P N Gadgil Jewellers Limited IPO will open on 10 Sep, 2024 and close on 12 Sep, 2024. Investors must apply within this period to participate.
The P N Gadgil Jewellers Limited IPO price band is set between ₹456.00 and ₹480.00 per share. The minimum lot size is 31, requiring an investment of at least ₹14880.00.
The P N Gadgil Jewellers Limited IPO shares are expected to be listed on 17 Sep, 2024, subject to regulatory approvals and final allotment.
You can track your P N Gadgil Jewellers Limited IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The P N Gadgil Jewellers Limited IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.