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About P N Gadgil Jewellers IPO
The IPO of P N Gadgil Jewellers is a book-built issue amounting to Rs 1,100.00 crores. It includes 1.77 crore new shares worth Rs 850.00 crores and an offer for sale of 0.52 crore shares worth Rs 250.00 crores.
Subscriptions for the PNG Jewellers IPO commence on September 10, 2024, and end on September 12, 2024. The allotment date is anticipated to be September 13, 2024 (Friday). The P N Gadgil Jewellers IPO is tentatively set to be listed on BSE and NSE on Tuesday, September 17, 2024.
The price band for P N Gadgil Jewellers’ IPO ranges from Rs 456 to Rs 480 per share, with a minimum application lot size of 31.
Retail investors need to invest a minimum of Rs 14,880, while the minimum lot size investment for small non-institutional investors (sNIIs) is 14 lots (434 shares), totalling Rs 2,08,320, and for big non-institutional investors (bNIIs), it is 68 lots (2,108 shares), amounting to Rs 10,11,840.
The book-running lead managers to the PNG Jewellers IPO are Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited, and Bob Capital Markets Limited, while Bigshare Services Pvt Ltd is the issue’s registrar.
P N Gadgil Jewellers Ltd IPO Details
| Particulars | Details |
| P N Gadgil Jewellers IPO Date | September 10, 2024 to September 12, 2024 |
| Face Value | Rs 10 per share |
| Price Band | Rs 456 to Rs 480 per share |
| P N Gadgil Jewellers Lot Size | 31 Shares |
| Total Issue Size | 22,916,667 shares (aggregating up to Rs 1,100.00 Crore) |
| Fresh Issue | 1,77,08,334 shares (aggregating up to Rs 850.00 Crore) |
| Offer for Sale | 52,08,333 shares of Rs 10 (aggregating up to Rs 250.00 Crore) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 11,80,00,000 |
| Shareholding post issue | 13,57,08,334 |
Major Schedules or Key Dates
| Particulars | Details |
| IPO Open Date | Tuesday, September 10, 2024 |
| IPO Close Date | Thursday, September 12, 2024 |
| Basis of Allotment | Friday, September 13, 2024 |
| Initiation of Refunds | Monday, September 16, 2024 |
| Credit of Shares to Demat | Monday, September 16, 2024 |
| Listing Date | Tuesday, September 17, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 12, 2024 |
Investors’ Applications, Lot size, shares offered and their value
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 31 | Rs 14, 880 |
| Retail (Max) | 13 | 403 | Rs 1,93,440 |
| S-HNI (Min) | 14 | 434 | Rs 2,08,320 |
| S-HNI (Max) | 67 | 2,077 | Rs 9,96,960 |
| B-HNI (Min) | 68 | 2,108 | Rs 10,11,840 |
Investor categories and shares offered
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
P N Gadgil Jewellers Ltd IPO GMP
The latest grey market premium (GMP) for P N Gadgil Jewellers IPO was ₹234 as of September 9th, 2024, at 09:59 AM. Considering a price band is between Rs 456.00 and Rs 480.00, the anticipated listing price is Rs 645 (cap price + today’s GMP).
The projected percentage gain/loss per share stands at 34.38%. The retail subject to Sauda for the P N Gadgil Jewellers IPO is Rs 3900. The small HNI subject to Sauda for the P N Gadgil Jewellers IPO is Rs 54600.
P N Gadgil Jewellers Ltd Company Details
P N Gadgil Jewellers Limited was founded in 2013 and specialises in various precious metal and jewellery items, such as gold, silver, platinum, and diamond jewellery, all branded under ‘PNG’ in different price ranges and styles.
By December 31, 2023, the company had developed 8 sub-brands offering gold jewellery collections for various occasions: Saptam, Swarajya, Rings of Love, The Golden Katha of Craftmanship, Flip, Lifestyle, Pratha, and Yoddha.
Additionally, two sub-brands present diamond jewellery collections, Eiina and PNG Solitaire, and two others introduce platinum jewellery collections: Men of Platinum and Evergreen Love. Furthermore, the company provides personalised jewellery crafting services.
As of September 30, 2023, P N Gadgil Jewellers Limited boasted a dedicated team of 1,152 employees, each making valuable contributions to the company’s success and expansion.
As of December 31, 2023, the company had expanded to 33 stores, 32 of which were spread across 18 cities in Maharashtra and Goa and one in the US, covering a total retail space of roughly 95,885 sq. ft.
All these stores are company-owned and company-operated, of which 23 are fully owned and 10 are operated by franchisees under the FOCO model.
Financials of the P N Gadgil Jewellers Ltd:
| Particulars | As of 31-Mar-24 | As of 31-Mar-23 | As of 31-Mar-22 |
| Assets (Rs in crores) | 1,464.98 | 1,062.55 | 1,110.24 |
| Revenue (Rs in crores) | 6,119.10 | 4,559.31 | 2,586.31 |
| Profit After Tax (Rs in crores) | 154.34 | 93.7 | 69.52 |
| Net Worth (Rs in crores) | 534.38 | 365.73 | 282.01 |
| Reserves and Surplus (Rs in crores) | 255.53 | 191.22 | |
| Total Borrowing (Rs in crores) | 396.5 | 283.21 | 294.93 |
Key Ratios:
| KPI (Key Performance Indicator) | Values as of March 31, 2024 |
| ROE (Return on Equity) | 28.88% |
| ROCE (Return on Capital Employed) | 27.31% |
| Debt/Equity ratio | 0.74 |
| RoNW (Return on Net Worth) | 28.88% |
| P/BV (Price to Book Value) | 10.6 |
| PAT (Profit after Tax) Margin (%) | 2.53 |
P N Gadgil Jewellers Ltd RHP – The Risks
1. Risks related to trademark
The company emphasises its brands’ importance and reputation in attracting consumers to its products. Their flagship brand, “PNG,” and several sub-brands are key contributors to their business’s growth and success.
They do not own the trademark for their flagship brand, “PNG,” and require written approval to assign or sub-license the trademark.
As of July 31, 2024, they have significant ownership of 69 trademarks, including sub-brands catering to gold, diamond, and platinum jewellery collections for different occasions.
2. Risks related to competitors
The brand needs to be developed, promoted, and positioned well in such a highly competitive market to distinguish the products from competition, attract customers, and help the company sustain its business growth. This encompasses the marketing and merchandising of the brand, the relation built with the customers, and maintenance of consistent high-quality service.
It covers the costs of publicity, endorsements, advertising in magazines and on television, sponsorship, public relations events, outdoor marketing, and designing brochures. Creation, promotion, and positioning of a brand with a well-thought-out strategy are relevant steps to identify the products from the competitors and gain consumers for the sustainability of the business in a highly competitive market.
This includes marketing and merchandising efforts, customer relationship and consistent high-quality experiences. The costs in this regard include advertising, celebrity endorsement, magazine and TV advertising, sponsorships, PR events, out-of-home marketing, and designing brochures.
3. Risks related to financials
The company depends on working capital to meet its day-to-day requirements. If the company isn’t able to raise the funds needed for working capital, it may hinder the regular business operations and activities.
4. Risks related to upgradation
Different market trends, client choices and so on impact on the operation of the organization. The firm must therefore continuously modify itself in those terms in order to escape any such danger.
Frequently Asked Questions (FAQs)
What’s the objective behind the P N Gadgil Jewellers Ltd IPO?
The company plans to utilise the net proceeds in setting 12 new stores in Maharashtra; for meeting general corporate purposes; and re-payment of certain borrowings availed by the company.
Who’s the P N Gadgil Jewellers Ltd company’s owner?
Ganesh Gadgil is the founder of the P N Gadgil Jewellers Ltd.
Mention the names of P N Gadgil Jewellers Ltd company’s competitors?
Its competitors are mainly – Titan company limited, Kalyan Jewellers India Limited, Senco Gold Limited, Rajesh exports limited, PC Jeweller limited, etc.
When is the P N Gadgil Jewellers Ltd IPO’s opening and closing date?
The P N Gadgil Jewellers Ltd company’s IPO’s opening and closing date are September 10, 2024, and, September 12, 2024, respectively.
When is the P N Gadgil Jewellers Ltd IPO’s allotment date?
The tentative allotment date is Friday, September 13, 2024, for P N Gadgil Jewellers Ltd IPO.
From where can you download the Offer-related documents of P N Gadgil Jewellers Ltd IPO?
The offer-related documents – RHP (Red Herring Prospectus) and DRHP (Draft Red Herring Prospectus) of P N Gadgil Jewellers Ltd IPO, can be downloaded from the SEBI’s official website.
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