P N Gadgil Jewellers IPO
P N Gadgil Jewellers IPO — date, price band, lot size & details 2024
P N Gadgil Jewellers listed on 17 Sep 2024 at ₹830, 72.9% above the ₹480 issue price.
P N Gadgil Jewellers is the second largest organised jewellery retailer in Maharashtra, selling gold, silver, platinum and diamond jewellery. Its total income was Rs 6,119.10 crore in FY2024.
Stock price
P N Gadgil Jewellers is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 10 Sep 2024
- Close 12 Sep 2024
- Allotment 13 Sep 2024
- Refund/credit 16 Sep 2024
- Listing 17 Sep 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 10 to 12 Sep, 2024 |
|---|---|
| Price Band | ₹456 – ₹480 |
| Face Value | ₹10 |
| Lot Size | 31 Shares |
| Issue Size | ₹1100 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,880 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 31 shares at the ₹480 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 31 | ₹14,880 |
| Retail (max) | 13 | 403 | ₹1,93,440 |
| S-HNI (min) | 14 | 434 | ₹2,08,320 |
| S-HNI (max) | 67 | 2,077 | ₹9,96,960 |
| B-HNI (min) | 68 | 2,108 | ₹10,11,840 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 2,586.31 crore in FY2022 to Rs 6,119.10 crore in FY2024.
- 02Profit after tax rose from Rs 69.52 crore in FY2022 to Rs 154.34 crore in FY2024.
- 03Rs 850.00 crore of the issue was fresh capital for 12 new stores and debt repayment.
- 04The pre-issue P/E was 36.7 at the upper band of Rs 480, based on EPS of Rs 13.08.
- 05The source puts return on net worth at 28.88%.
Risks · 5
- 01Jewellery margins are thin, and the source puts the PAT margin at 2.53%.
- 02Gold prices drive both sales and stock values, and assets were Rs 1,464.98 crore on 31 March 2024.
- 03Total borrowing rose from Rs 283.21 crore on 31 March 2023 to Rs 396.50 crore on 31 March 2024.
- 04Most stores are in Maharashtra, so the business is regionally concentrated, and 12 new stores need heavy stock.
- 05Promoters held 100% before the issue and 83.11% after it.
Three years of numbers
All figures in ₹ crore, as reported in the P N Gadgil Jewellers offer document.
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 1,464.98 | 1,062.55 | 1,110.24 |
| Total Income | 6,119.10 | 4,559.31 | 2,586.31 |
| Profit After Tax | 154.34 | 93.70 | 69.52 |
| NET Worth | 534.38 | 365.73 | 282.01 |
| Total Borrowing | 396.50 | 283.21 | 294.95 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the P N Gadgil Jewellers RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
P N Gadgil Jewellers IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹13.08 | ₹11.37 |
| P/E Ratio (x) | 36.70 | 42.20 |
| Market Cap at Offer Price (₹ Cr) | ₹5,663.85 | ₹6,515.67 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹480 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹801.72 Cr of the issue is earmarked to named objects.
About the company
It sells gold, silver, platinum and diamond jewellery through its stores, mainly in Maharashtra, and also online.
Its promoters are Saurabh Vidyadhar Gadgil, Radhika Saurabh Gadgil and SVG Business Trust.
The IPO was Rs 1,100 crore, with Rs 850.00 crore of fresh issue and Rs 250.00 crore of offer for sale by SVG Business Trust. Rs 392.57 crore was planned for 12 new stores in Maharashtra and Rs 300.00 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
P N Gadgil Jewellers IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Nuvama Wealth Management Ltd.
42 issues handledBest listing: Gandhar Oil Refinery (India) (+76.3%). Weakest: ACME Solar Holdings (-13.1%).
Motilal Oswal Investment Advisors
58 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: R K Swamy (-13.2%).
BOB Capital Markets Ltd
9 issues handledBest listing: IREDA (+56.3%). Weakest: Kalyan Jewellers India (-15.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of P N Gadgil Jewellers?
The current Grey Market Premium is ₹300, or 62% over the issue price.
What is the P N Gadgil Jewellers IPO price band?
₹456 to ₹480, on a face value of ₹10.
When is the allotment?
The basis of allotment is 13 September 2024, with listing on 17 September 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
