New Delhi: PN Gadgil Jewellers Ltd IPO has got superb response from investors. The initial public offer, which opened for bidding on September 10, 2024, got fully subscribed within a few hours of opening. The IPO received a two-time subscription by the end of the day.
PN Gadgil Jewellers IPO, a book built issue of Rs 1,100.00 crore, received bids for 3,38,86,720 shares against 1,68,85,964 shares on offer. PN Gadgil Jewellers confirmed raising Rs 330 crore from anchor investors.
The Non-institutional investors category recorded a booking of 3.26 times.
The Retail Individual Investors (RIIs) category received 2.61 times subscription.
The Qualified Institutional Buyers (QIBs) part received a subscription of 1 per cent.
P N Gadgil Jewellers IPO GMP, allotment, listing
The Maharashtra-based company’s IPO price band is fixed at Rs 456-480 per share. PN Gadgil Jewellers IPO GMP was placed at Rs 258 on September 11 morning, investorgain reported. With the price band of Rs 480, the shares of the jewellery brand are expected to be listed at Rs 738, which means a gain of around 53 per cent.
PN Gadgil Jewellers IPO allotment is likely to take place on September 13, 2024 while the refunds process is expected to begin on September 16. The shares are expected to be credited to the demat accounts of eligible shareholders on 16th September. The share will list on BSE and NSE with a tentative date fixed September 17.
PN Gadgil Jewellers IPO book-running lead managers: BOB Capital Markets Ltd, Motilal Oswal Investment Advisors Ltd, and Nuvama Wealth Management Ltd.
PN Gadgil Jewellers Ltd came into existence in 2013 sells its products, inlcuding metal/jewellery products including gold, silver, platinum and diamond jewellery, under its flagship brand, ‘PNG’, and various sub-brands.
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PN Gadgil Jewellers IPO GMP is going strong as the stock is likely to be listed with over 50 per cent gains. The IPO got fully subscribed and ended the Day 1 with 2 times subscription. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today