P N GADGIL JEWELLERS LIMITED RAISES ₹ 330 CRORES FROM 25 ANCHOR INVESTORS AT THE UPPER END OF THE PRICE BAND AT ₹480 PER EQUITY SHARE. ISSUE OPENS TODAY
10th September 2024
P N Gadgil Jewellers Limited has allotted 68,74,999 Equity Shares to 25 anchor investors and raised INR 330 Crores ahead of the company’s proposed IPO at the upper end of the price band at ₹ 480 per equity share (including a premium of INR 470 per equity shares) with a face value of INR 10 per equity share. Out of the total allocation of 68,74,999 Equity Shares to the Anchor Investors, 33,54,199 Equity Shares(i.e. 48.79% of the total allocation to Anchor Investors) were allocated to 10 domestic mutual funds through a total of 18 schemes.
IPO Details
The Company’s initial public offering comprises a fresh issue of equity shares of the face value of INR 10, each aggregating up to INR 850 Crores, and an offer for sale of equity shares of the face value of INR 10, each aggregating up to INR 250 Crores. The total offer size comprises equity shares of face value of INR 10, each aggregating up to INR 1100 Crores. The offer for sale comprises equity shares of face value of INR 10, each aggregating up to INR 250 Crores by SVG Business Trust (Promoter Selling Shareholder).
Utilization of Funds
The funds raised through the IPO are proposed to be utilized for (i) the funding of expenditure towards setting up 12 new stores in Maharashtra; (ii) repayment or pre-payment, in full or part, of certain borrowings availed by the Company; and (iii) general corporate purposes.
Important Dates
The issue opens on 10th September 2024 and closes on Thursday, 12th September 2024.
Subscription Data
Subscription Data (as of 1:30 PM, Tuesday, 10th September 2024)
QIB – 0.00x
NII – 1.33x – {(NII 10L+) – 1.13x , (NII 2L-10L) – 1.71x},
Retail – 1.45x
Total – 1.01x
Book Running Lead Managers
Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited), and BOB Capital Markets Limited are the book-running lead managers responsible for the issue.
