P N Gadgil Jewellers made a notable debut today, with shares opening at ₹830 on the NSE, marking a 72.92% rise from the issue price. On the BSE, shares began at ₹834, up 73.75% from the issue price.
P N Gadgil Jewellers IPO saw overwhelming demand, with Qualified Institutional Buyers (QIBs) subscribing 136.85 times, non-institutional investors 56.09 times, and Retail Individual Investors (RIIs) 16.58 times. The IPO was fully subscribed within hours and closed with a two-time subscription.
P N Gadgil Jewellers Limited, Maharashtra’s second-largest jewellery retailer, combines its rich heritage with a diverse jewellery collection, including gold, silver, platinum, and diamonds. As of July 31, 2024, the company operates 39 stores across Maharashtra, Goa, and the U.S., offering products online and in-store, while emphasizing quality, innovative designs, and effective marketing strategies.
The objective of the P N Gadgil Jewellers IPO is to raise capital for expanding their retail network, upgrading their existing facilities, and meeting working capital requirements. The funds will also be used to strengthen their brand presence and market reach.
