Pune based Gems & Jewellery Retail Company PN Gadgil Jewellers files DRHP with SEBI for the proposed IPO; Key Details here

PN Gadgil Jewellers is into Consumer Gems & Jewellery Retail and is looking raise funds through Fresh Issue and Offer For Sale

PN Gadgil JewellersIPO: Fresh Issue of Equity shares aggregating up to Rs.850 crores. Offer for Sale of Equity shares aggregating up to Rs.250 crores IPO

PN Gadgil Jewellers IPO: PN Gadgil Jewellers Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Promoters of PN Gadgil Jewellers are Saurabh Vidyadhar Gadgil, Radhika Saurabh Gadgil and SVG Business Trust and holds 100% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 850 crores and an Offer for Sale aggregating up to Rs 250 crores..
• Motilal Oswal Investment Advisors, Nuvama Wealth Management, BoB Capital Markets have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed Bigshare Services Pvt. Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 850 Crs and.

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Objects of the issue:
1) Funding towards setting up 12 new stores in Maharashtra - Rs 387 crores, 2) Re-payment of Debt - Rs300 crores, and 3) General corporate purposes.

About Company:
Established in 2013, Company is into gold, silver, platinum and diamond jewellery segment. Company's products are primarily sold under the brand, ‘PNG’, and various sub–brands, through multiple channels, including 33 retail stores (as on Sept 30, 2023) and various online marketplaces, including company's website.

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About Industry:
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. (Source: Technopak Report).

Source: SEBI, BSE, NSE, DRHP, PN Gadgil Jewellers, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.