P N Gadgil Jewellers Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the P N Gadgil Jewellers Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹480
Per ShareLot Size
31 Shares
Minimum Investment
₹14,880
Issue Size
₹1,100 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
P N Gadgil Jewellers Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
99.99%
Issue Type
Book Building
ISIN
INE953R01016
About the Company
P N Gadgil Jewellers Limited offers a wide range of precious metal / jewellery products including gold, silver, platinum and diamond jewellery, across various price points and designs which cover the need of its customers and include collections that are specifically designed for special occasions as well as everyday wear jewellery. Its products are primarily sold under its flagship brand, `PNG', and various sub - brands, through multiple channels, including our 39 retail stores (as on July 31, 2024) and various online marketplaces, including its website. The Company faces competition from both the organized and unorganised sectors as well as from players that has a pan India presence, namely, Titan Company Limited (Tanishq), Kalyan Jewellers India Limited and Senco Gold Limited.
Industry Overview
The Indian jewellery retail sector's size in FY 2023 was close to USD 70 billion. Within this landscape, organized retail accounted for about 37%, encompassing both national and regional players. The fine jewellery segment in India constitutes about 90% of the overall jewellery market. It is further categorized into gold and non-gold categories, with non-gold encompassing diamond, platinum, silver, platinum, and other materials.
Company History
P N Gadgil Jewellers Limited was originally incorporated as "P N Gadgil Jewellers Private Limited", a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated October 28, 2013, issued by the Registrar of Companies, Maharashtra at Pune (the "RoC"). The name of the Company was subsequently changed to "P N Gadgil Jewellers Limited", upon conversion of the Company from a private limited to a public limited company, pursuant to a board resolution dated February 16, 2023, and a shareholders' resolution dated March 10, 2023, and a fresh certificate of incorporation was issued on April 5, 2023, by the RoC.
Products & Services
- The Company offers a wide range of precious metal / jewellery products including gold, silver, platinum and diamond jewellery.
Growth Strategy
- Expand its retail network in western India by leveraging its brand.
- Continue to invest in its marketing and brand building initiatives.
- Focus on increasing footfalls in its existing stores and increasing the average transaction value.
- Increase its digital presence to increase customer base and sales.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 22,916,666 equity shares of face value of Rs. 10 each ("Equity Shares") of P N Gadgil Jewellers Limited (The "Company" or the "Company" or the "Issuer") for cash at a price of Rs. 480 per equity share (including a premium of Rs. 470 per equity share) (the "Offer Price") aggregating to Rs. 1100.00 crores (the "Offer") comprising a fresh issue of 17,708,333 equity shares by our company aggregating to Rs. 850.00 crores (the "Fresh Issue") and an offer for sale of 5,208,333 equity shares aggregating to Rs. 250.00 crores (the "Offer for Sale") by SVG Business Trust (referred to as the "Promoter Selling Shareholder" and such equity shares offered by the promoter selling shareholder, the "Offered Shares"). The face value of the equity share is Rs. 10 each and the offer price is 48 times the face value of equity share.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Well established and trusted legacy brand in Maharashtra.
- Second largest organised retail jewellery player and one of the fastest growing brand in Maharashtra.
- Diversified product portfolio across categories and price points.
- Experienced Promoter and management team with proven execution capabilities.
- Strong historical financial results.
- The strength of the brands the company use are crucial to its success. Any reputational damage to the brand, name or logo could have an adverse effect on its financial condition, cash flows and results of operations.
- Its inability to effectively market the company products, or any deterioration in public perception of its brand, could affect consumer footfall and consequently adversely impact its business, financial condition, cash flows and results of operations.
- Its inability to identify market trends and customer demand accurately and maintain an optimal level of inventory in its stores may impact the company operations adversely.
- Its business is primarily concentrated in Maharashtra and the company is significantly dependent on top five of its stores located in Maharashtra for revenue generation. Any adverse development affecting such region or stores may have an adverse effect on its business, prospects, financial condition and results of operations.
- The Company requires significant amounts of working capital for continued growth. Its inability to meet the company working capital requirements, on commercially acceptable terms, may have an adverse impact on its business, financial condition and results of operations.