The scrip was listed at Rs 834, exhibiting a premium of 73.75% to the issue price. So far, the stock has hit a high of 843.80 and a low of 785.25. On the BSE, over 8.41 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of P N Gadgil Jewellers was subscribed 59.41 times. The issue opened for bidding on 10 September 2024 and it closed on 12 September 2024. The price band of the IPO was fixed between Rs 456 to 480 per share. The IPO comprised a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) aggregating up to Rs 250 crore by the existing shareholder SVG Business Trust. The objectives for the fresh issue included Rs 392.5 crore for expanding the retail network by opening 12 new stores in Maharashtra, Rs 300 crore for repayment or pre-payment of certain borrowings, and for general corporate purposes. The promoters and promoter group held an aggregate of 100% of the pre-offer issued and paid-up equity share capital. The post-IPO shareholding is expected to be around 83.11%. Ahead of the IPO, P N Gadgil Jewellers on 9 September 2024 raised Rs 329.99 crore from anchor investors. The board allotted 68.74 lakh shares at Rs 480 each to 33 anchor investors. P N Gadgil is the second-largest jewellery player in Maharashtra in terms of the number of stores as of January 2024. A wide range of precious metal and jewelry products include gold, silver, platinum, and diamond jewelry across various price ranges and designs. The products are primarily sold under the flagship brand, PNG, as well as various sub-brands, through multiple channels, including retail stores, various online marketplaces, and own website. A mobile application, PNG Jewellers, was launched in March 2022 to keep customers updated on new designs and collections. The firm reported a consolidated net profit of Rs 154.34 crore and sales of Rs 6,110.95 crore for the twelve months ended on 31 March 2024. Powered by Capital Market - Live