Get complete details on P N Gadgil Jewellers’ IPO, including key dates, price, allotment status, and more
P N Gadgil Jewellers Limited is an India-based jeweler offering a wide range of gold, silver, platinum, and diamond ornaments through 33 franchisee-owned, company-operated outlets, ensuring uniform quality and customer experience. It has published that its IPO has opened on 10th September and will end on 12th September. It aims to gather INR 1,100 crores with the price band of INR 456 to INR 480 per share.
Table of Contents
- Company Overview
- Company Strategy
- Details on IPO Date and Price Band
- IPO Objective
- Market Lot Information on P N Gadgil Jewellers Limited IPO
- Allotment Dates for P N Gadgil Jewellers Limited IPO
- Application Process of IPO
- Financial Analysis of Company
- IPO Valuation
- Competitor Analysis
- Registrar for P N Gadgil Jewellers Limited IPO
- Offer Lead Manager
- Company Address
Company Overview
P N Gadgil Jewellers Limited is a jewelry company that operates in India and deals in gold, silver, platinum, and diamond jewelry. It has its roots in almost two centuries of business, and its reputation is built on artisanal values, high quality, and outstanding designs. Currently, it has 33 outlets, in 18 states including Maharashtra, Goa, and the USA; to maintain a corporate image, all the franchise outlets are company-owned and company-operated. P N Gadgil Jewellers is targeting to open 12 more stores by the end of Fiscal Year 2026, thus reinforcing its position in the organized jewelry market.
Company Strategy
The business strategy of P N Gadgil Jewellers Limited focused on growth in the context of more outlets while controlling the quality as the outlets are franchise-owned and company-operated. It allows for a homogenized experience for the customers regardless of which store they are using. It has planned to expand its stores in different cities in India and internationally, while focusing on design innovation according to customer needs, customer preferences, and heritage, to establish a firm foothold in the increasing competition in the organized jewelry segment.
Details on IPO Date and Price Band
| IPO Open Date: | September 10, 2024 |
| IPO Close Date: | September 12, 2024 |
| Face Value: | INR 10 Per Equity Share |
| IPO Price Band: | INR 456 to INR 480 Per Share |
| Issue Size: | Approx INR 1,100 Crores |
| Fresh Issue: | Approx INR 850 Crores |
| Offer for Sale: | Approx INR 250 Crores (5,208,333 Equity Shares) |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
IPO Objective:
The utilization of IPO proceeds for P N Gadgil Jewellers Limited includes the opening of 12 showrooms in Maharashtra to address the expansion objectives of the firm. Some of the funds will also be for the repayment or pre-financing of some borrowings, which will enhance the company’s balance sheets. Thirdly, the residual amount will be used to provide for any other corporate requirements to maintain the corporate operational needs and improve the business structure that can foster the long-term development of the business entity and enhance overall business profitability.
Market Lot Information on P N Gadgil Jewellers Limited IPO
The lot size and corresponding amounts are as follows:
- Retail Minimum: 1 lot (31 shares) for INR 14,880
- Retail Maximum: 13 lots (403 shares) for INR 193,440
- S-HNI Minimum:14 lots (434 shares) for INR 208,320
- B-HNI Minimum: 68 lots (2,108 shares) for INR 1,011,840
Allotment Dates for P N Gadgil Jewellers Limited IPO
P N Gadgil Jewellers Limited IPO open date is September 10 and the IPO close date is September 12. The IPO allotment date is September 13 and the listing date is September 17.
| IPO Open Date: | September 10, 2024 |
| IPO Close Date: | September 12, 2024 |
| Basis of Allotment: | September 13, 2024 |
| Refunds: | September 16, 2024 |
| Credit to Demat Account: | September 16, 2024 |
| IPO Listing Date: | September 17, 2024 |
Application Process of IPO
The IPO can be accessed by submitting an application through the online ASBA (Application Supported by Blocked Amount) facility from the bank through ‘Internet banking’, going to ‘Invest’, and applying for the P N Gadgil Jewellers Limited. On the other hand, the IPO forms are also available for download on the NSE websites which the candidates can fill and submit.
Financial Analysis of the Company
Financials in INR Crores.
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2021 | 1,944.44 | 1,937.79 | 6.71 | 1,014.15 |
| 2022 | 2,586.31 | 2,501.27 | 69.52 | 1,110.24 |
| 2023 | 4,559.31 | 4,441.23 | 93.70 | 1,062.55 |
| Sept 2023 | 2,631.14 | 2,570.91 | 43.75 | 1,265.00 |
P N Gadgil Jewellers Limited has shown consistent financial growth, with revenue increasing from INR 1,944.44 crore in 2021 to INR 4,559.31 crore in 2023. Profit after tax (PAT) has also grown significantly, rising from INR 6.71 crore in 2021 to INR 93.70 crore in 2023. Despite higher expenses, the company has improved profitability, reflecting operational efficiency. Total assets grew from INR 1,014.15 crore in 2021 to INR 1,265 crore in September 2023, indicating a strong financial position to support future expansion. The company’s steady revenue growth and increasing PAT highlight its financial resilience.
IPO Valuation (FY 2023)
The company’s EPS stands at a value of INR 16.97 with a Return on Net Worth (RoNW) of 25.09% and a Net Asset Value (NAV) per share of INR 30.99 in the financial year 2023. The IPO price band ranges from INR 456 to INR 480 per share to raise INR INR 1,100 crores to fund new store openings, repay borrowings, and support general corporate purposes to drive expansion and long-term growth.
| Earnings Per Share (EPS): | INR 16.97 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 25.09% |
| Net Asset Value (NAV): | INR 30.99 |
Competitor Analysis
Here are the competitors of P N Gadgil Jewellers Limited:
Kalyan Jewellers India Limited
Kalyan Jewellers India Limited is a leading jewelry retail chain of gold, diamond, platinum, and silver jewelry in India. A well-known company that was started in the year 1993 has more than 150 showrooms throughout India and the Middle East where the basic principles are customer satisfaction, quality, and transparency. Each division of Kalyan Jewellers has flexibility in adapting to regional tastes and preferences in designs while ensuring compliance with laid standards. Additionally, it has also established a very strong Internet network, which helped it to grow and become a leader in the segment of the organized jewelry market.
Senco Gold Limited
Senco Gold Limited is one of India’s highly acclaimed jewelry companies that specialize in gold, diamond as well as platinum jewelry It was established in 1994. Currently, it has showrooms all over India and provides both Antique and Modern Indian Designs. Senco Gold insists on quality, Fine Craftsmanship, and customer delight and it has a niche market in the organized jewelry segment. It allows customers to access both off and online the company’s products online so that there is growth and market dominance is achieved.
Thangamayil Jewellery Limited
Thangamayil Jewellery Limited is one of the foremost jewelry chains in India dealing exclusively in gold, diamond, as well as platinum jewelry. Founded in 1980, the company has a vast chain of showrooms mainly in Tamil Nadu. Thangamayil has a vast portfolio of both conventional and contemporary designs of jewelry, which has its prime emphasis on quality and consumer satisfaction to establish a predominant market position in the organized jewelry segment.
P N Gadgil Jewellers Limited IPO Registrar
Bigshare Services Pvt Ltd
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.htm
Offer Lead Manager
Motilal Oswal Investment Advisors Limited
Motilal Oswal Investment Advisors Limited is an investment banking and financial services company operating in India offering investment advisory services, wealth management, and portfolio management services. The company operates as a separate entity affiliated with Motilal Oswal Financial Services Ltd and specializes in offering a vast range of financial services and products to investors, retail and institutional through detailed market research and analysis. Its specialized areas of service provision are investment planning, asset management, and financial consulting vis-a-vis clients’ portfolio management and long-term financial planning. It is specialized in the field of financial advisory and offers its service to clients.
Nuvama Wealth Management Limited
Nuvama Wealth Management Limited is a well-established Indian financial services company dealing mainly in wealth management and as a financial consultant. Nuvama Group firm, the company provides investment advisory, portfolio management, and financial planning services to high-net-worth individuals as well as institutional clients. Nuvama Wealth Management is orientated on investment management providing individual approaches and using information and analysis to improve results in managing clients’ assets. This company has a client-orientated focus and offers extensive solutions to secure and increase its and its clients’ assets to fulfill various financial goals.
Bob Capital Markets Limited
Bob Capital Markets Limited is an established financial services firm in India incorporating a wide gamut of capital market and investment banking activities. The company provides equity and debt broking, investment advisory, research, and corporate finance solutions as a subsidiary of the Bank of Baroda. It provides portfolio, financial planning, and market strategy services for both institutional and retail customers. It utilizes deep banking experience and market knowledge to provide complete financial solutions, ensuring smooth capital market transactions.
Conclusion
With a price range of INR 456 to INR 480 per share, P N Gadgil Jewellers Limited’s planned initial public offering (IPO) presents an intriguing opportunity for investors. The company hopes to raise INR 1,100 crores. The company has positioned itself strategically for growth in the competitive organized jewelry sector by decreasing debt and increasing its retail presence. Strengthening its market presence in India and elsewhere, this IPO is an important move, supported by a strong financial track record and ambitious expansion plans.
