Pune’s PN Gadgil Jewellers may shine brighter as time passes
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ET Intelligence Group: Pune-based PN Gadgil Jewellers is the second-largest organised jewellery retail player in Maharashtra run by the sixth generation of the jeweller family. The company is raising ₹1,100 crore through an IPO comprising a fresh issue of ₹850 crore and the rest being an offer for sale wherein the promoter is diluting its stake from 100% to 83%. Business: The company sells jewellery under its flagship brand 'PNG'. At the end of July 2024, PNG operated 39 stores, with a total area of approximately 108,000 sq ft. Of these, 28 are company-owned and 11 are franchisee-owned. The manufacturing of its jewellery is carried out by more than 75 skilled craftsmen. The stores in Pune contributed 65% of the company's FY24 revenues, while only 1.8% came from online marketplaces. As a traditional player, the company runs customer-oriented incentives and loyalty schemes. Financials & Growth Prospects: The company's re...