P N Gadgil Jewellers Limited IPO is scheduled to open on September 10, 2024, with a price band of ₹456-₹480 per share. The company is a leading jeweller in India with a strong presence in Maharashtra.

IPO Details

• Issue Type: Book-built Issue
• Issue Size: ₹1,100 crores
• Total Issue Size: ₹1,100.00 Cr
• Fresh Issue: ₹850.00 Cr
• Offer for Sale: ₹250.00 Cr
• Price Band: ₹456-₹480 per share
• Lot Size: 31 Shares
• Face Value: ₹10 per share
• Lead Managers: Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited
• Registrar: Bigshare Services Private Limited

Timeline

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

About Company

P N Gadgil Jewellers Limited is a leading jewellery retailer in India with a strong presence in Maharashtra. The company has been operating for over 150 years and is known for its traditional designs and craftsmanship.

Core Business:

• Jewellery Retail: P N Gadgil operates a chain of jewellery stores, offering a wide range of gold, silver, and diamond jewellery.
• Custom Jewellery: The company also provides custom jewellery design and manufacturing services.

Market Position:

• P N Gadgil is a well-established brand in the Indian jewellery market, particularly in Maharashtra.
• The company has a loyal customer base and is known for its quality products and excellent customer service.

Future Outlook:

• The Indian jewellery market is expected to grow, driven by increasing disposable incomes and changing consumer preferences.
• P N Gadgil aims to expand its geographic reach and increase its market share.
• The company may explore new product categories or segments to drive growth.

Here are some resources to learn more about company

• Read DRHP Here

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Objective

The primary objectives of the P N Gadgil Jewellers Limited IPO are:

1. Raising Capital: The company aims to raise ₹1,100 crores through the IPO, which will be used for:
   • Expansion: Funding the expansion of retail stores and strengthening the company’s geographic presence.
   • Working Capital: Meeting the day-to-day operational expenses of the business.
   • General Corporate Purposes: Supporting other growth initiatives and strategic investments.
2. Brand Visibility: The IPO will increase the visibility of P N Gadgil Jewellers among investors and the general public, enhancing its brand recognition and credibility.
3. Part Exit for Existing Shareholders: The IPO includes an Offer for Sale (OFS) component, allowing existing shareholders to partially exit their investment.

By achieving these objectives, P N Gadgil Jewellers Limited aims to strengthen its financial position, expand its business, and enhance its market presence.

POSITIVE

• Established Brand: P N Gadgil is a well-established brand in the Indian jewellery market with a strong customer base.
• Traditional Designs: The company’s focus on traditional designs can appeal to a specific customer segment.
• Geographic Presence: A strong presence in Maharashtra provides a solid foundation for growth.

NEGATIVE

• Regional Focus: The company’s concentration in Maharashtra limits its national reach.
• Competition: The jewellery market is highly competitive, with both organized and unorganized players.
• Economic Downturns: Consumer spending on luxury items like jewellery can be affected by economic downturns

So, How Does P N Gadgil Jewellers Limited IPO Fare in Terms of Financials ?

Financial Review of P N Gadgil Jewellers Limited

Period Ended	Assets	Revenue	PAT	Net Worth	Reserves & Surplus	Total Borrowing
31 Mar 2024	1,464.98	6,119.14	154.34	534.38	255.53	396.52
31 Mar 2023	1,062.55	4,559.31	93.76	365.73	191.22	83.21
31 Mar 2022	1,110.24	2,586.31	9.52	282.01	–	294.93

Key Observations:

• Revenue Growth: The company has consistently increased its revenue over the past three years, indicating strong growth and market penetration.
• Profitability: Profit after tax (PAT) has also grown steadily, suggesting improved operational efficiency and cost management.
• Asset Growth: The company has invested in assets, as evidenced by the increase in total assets over the three years.
• Net Worth and Reserves: A healthy increase in net worth and reserves suggests a strong financial position.
• Debt: Total borrowing has increased, but it remains at a manageable level.

P N Gadgil Jewellers Limited IPO Valuation :

KPI	Values
ROE	28.88%
ROCE	27.31%
Debt/Equity	0.74
RoNW	28.88%
P/BV	10.6
PAT Margin (%)	2.53

P N Gadgil Jewellers Limited IPO – SWOT Analysis

Strengths

• Established Brand: P N Gadgil is a well-established brand in the Indian jewellery market.
• Traditional Designs: The company’s focus on traditional designs can appeal to a specific customer segment.
• Customer Loyalty: A loyal customer base can provide a stable revenue stream.
• Geographic Presence: A strong presence in Maharashtra provides a solid foundation for growth.

Weaknesses

• Regional Focus: Concentration in Maharashtra limits national reach.
• Competition: The jewellery market is highly competitive, with both organized and unorganized players.
• Economic Downturns: Consumer spending on luxury items like jewellery can be affected by economic downturns.

Opportunities

• Expanding Geographic Reach: Entering new markets within India or exploring international expansion.
• Product Diversification: Adding new product categories or designs to cater to evolving customer preferences.
• Online Presence: Strengthening the company’s online presence to reach a wider customer base.
• Collaborations: Partnering with designers or celebrities to create exclusive collections.

Threats

• Economic Downturns: A slowdown in the economy can impact consumer spending on luxury items.
• Competition from Online Retailers: Online jewellery retailers can pose competition.
• Changes in Consumer Preferences: Evolving consumer preferences and trends can affect demand for traditional jewellery.

COMPETITIVE ANALYSIS: MARKET PEERS

P N Gadgil Jewellers Limited operates in a highly competitive jewellery market in India. Understanding its key competitors is essential for assessing the company’s market position and growth potential.

Key Competitors

• Tanishq: A leading jewellery brand owned by Tata Group, known for its modern designs and wide range of products.
• PC Jewellers: A large jewellery retailer with a strong presence across India.
• Gitanjali Gems: A prominent player in the Indian jewellery market, offering a variety of jewellery products.
• Malabar Gold & Diamonds: A leading jewellery retailer with a strong presence in South India.

P N Gadgil Jewellers Limited IPO GMP

• Grey market premium as on 10-09-2024 = ₹ 290 / Share

Disclaimer:

• IPO Grey Market Premium (P N Gadgil Jewellers Limited IPO GMP) mention is valid for the specific date as mentioned in the header.
• We are not buying and selling IPO forms on IPO Grey Market.
• Don’t decide to subscribe to an IPO just based on the initial price, as it can change before the listing.Subscribe only considering Fundamentals of the companies.

P N Gadgil Jewellers Limited IPO

🔴 Live Subscription Status 🔴

12/09/2024 05:00 PM

	NO OF SHARES OFFERED	Day 1	Day 2	Day 3
Qualified Institutional Buyers(QIBs)	48,24,560	0.01	0.08	136.85
Non Institutional Investors(NIIs)	36,18,421	3.26	15.74	56.08
Retail Individual Investors(RIIs)	84,42,983	2.61	6.97	16.58
Employees	–	–	–	–
Total	1,68,85,964	2.01	6.88	59.40

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