2024-09-20 09:27:24
PN Gadgil Jewellers IPO Listing: This week, the blockbuster listing of IPOs continues. After the listing of Bajaj Housing Finance on Monday, the IPO of PN Gadgil Jewelers was listed today i.e. on Tuesday. It gave huge profits to the investors on listing. It was listed on BSE at Rs 834 with a 73.75 percent premium and on NSE at Rs 830 with a 72.91 percent premium. Its IPO price was Rs 480. In this way, investors got a profit of Rs 350 on listing itself. However, after listing, it saw a decline. This IPO with an issue size of Rs 1100 crore was open for subscription on September 10.Have you missed Bajaj Housing Finance’s IPO? There is still a chance to buy, the price will go up to three times!
How much subscription did you get?
This IPO received a total subscription of 59 times. The company will use the funds raised through the IPO to open 12 new stores in Maharashtra, repay debt and for general corporate purposes. In FY 2023, the company’s revenue grew 76 percent year-on-year to Rs 4507 crore. At the same time, the company’s profit after tax increased by 35 percent to Rs 94 crore.
There was a tremendous response in the gray market
This IPO received a tremendous response in the grey market. On the day the IPO opened, its grey market premium (GMP) was Rs 240. In such a situation, it was expected to be listed at a premium of about 50 percent. After this, its GMP increased and it became Rs 303. That is, according to the grey market, there were indications of it being listed at Rs 783 with a premium of about 63 percent.
What does the company do?
PN Gadgil Jewelers Company deals in many types of jewellery. These include gold, silver, platinum and diamond. It is known by the PNG brand in short. The company has more than 30 stores across the country. The company has the maximum number of stores in Maharashtra. It also has a store in America.