GAGA Share Market News

[hfe_template id='11223'] [ad_1] The shares of PN Gadgil Jewellers debuted on the exchanges on Tuesday with a premium of 74%. The stock listed at Rs 834 on BSE and Rs 830 on NSE (72.92% premium) against the issue price of Rs 480. Ahead of the listing, the company's shares traded with a GMP of 63% to the issue price. The IPO, which included a fresh equity sale of 1.77 crore shares and an offer for sale (OFS) of 52.08 lakh shares, received a strong investor response with an overall subscription of over 50 times by the close. Ahead of the issue opening, PN Gadgil Jewellers raised Rs 330 crore from anchor investors by allotting 68.74 lakh shares to 25 anchor investors. The funds raised through the IPO are proposed to be used for setting up 12 new stores in Maharashtra, repaying debt, and other general corporate purposes. As of January 2024, PN Gadgil Jewellers is the second-largest among the prominent organized jewellery players in Maharashtra in terms of the number of s...

[hfe_template id='11223'] [ad_1] 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...