Mumbai1 day ago
- copy link
The Initial Public Offering (IPO) of PN Gadgil Jewelers Limited will open on September 10. Investors will be able to bid for this IPO till September 12. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 17.
PN Gadgil Jewelers wants to raise a total of ₹1,100 crore through this issue. For this, the company is issuing 17,708,334 fresh shares worth ₹850 crore. At the same time, the existing investors of the company are selling 5,208,333 shares worth ₹250 crore through Offer for Sale i.e. OFS.
If you are also planning to invest money in this, then we are telling you how much you can invest in this.
What is the minimum and maximum amount that can be invested? PN Gadgil Jewelers has fixed the price band of the issue at ₹456 to ₹480. Retail investors can bid for a minimum of one lot i.e. 31 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹480, then you will have to invest ₹14,880 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 403 shares. For this, investors will have to invest ₹ 193,440 according to the upper price band.
35% of the issue is reserved for retail investors The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
PN Gadgil Jewellers Ltd.’s premium in the grey market is 37.5% Before the IPO opening, the company’s stock has reached a premium of 37.5% i.e. ₹ 180 per share in the grey market. In such a situation, according to the upper price band of ₹ 480, its listing can happen at ₹ 660. However, this can only be estimated, the price of the listing of the stock is different from the price of the grey market.
PN Gadgil Jewellers Limited was established in 2013 PN Gadgil Jewelers Limited was founded in 2013. The company sells precious jewelry including gold, silver, platinum and diamonds under the brand name PNG. As of 31 December 2023, the company had a total of 33 stores, including 32 stores in 18 cities in Maharashtra and Goa and one store in the US.
What is IPO? When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.