P N Gadgil Jewellers has set its IPO price band between ₹456 and ₹480 per share, with subscriptions open from September 10 to September 12. Anchor investor allocation is scheduled for September 9.
The IPO consists of a fresh issue of ₹850 crore and an offer for sale by SVG Business Trust amounting to ₹250 crore.
The company has reserved up to 50% of the public issue for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 35% for retail investors. Each IPO lot comprises 31 shares.
The allocation of shares is expected to be finalized on September 13, with refunds processed by September 16. Shares will be credited to demat accounts on the same day, and the company plans to list on the BSE and NSE on September 17.
Founded in 2013, P N Gadgil Jewellers offers a wide range of gold, silver, platinum, and diamond jewelry under the “PNG” brand. It manages various sub-brands catering to different occasions and customer preferences.
In FY23, the company reported a revenue of ₹4,507.5 crore, a 76.4% increase from the previous year, with an EBITDA of ₹122.7 crore. The IPO proceeds will be used to repay ₹300 crore in debt and fund the opening of 12 new stores in Maharashtra by FY26.
The IPO is managed by Motilal Oswal Investment Advisors, Nuvama Wealth Management, and Bob Capital Markets.
