PN Gadgil Jewellers is into Consumer Gems & Jewellery Retail sector and is looking raise funds through Fresh Issue and Offer For Sale
IPO Summary
PN Gadgil Jewellers IPO is a public offering of shares by Saurabh Vidyadhar Gadgil, Radhika Saurabh Gadgil and SVG Business Trust. The IPO will open on September 10 and will close on September 12. The price band is ₹456 to ₹480 per share and the lot size is 31 shares. The issue size is ₹1,100. crore. The shares are expected to be listed on NSE, BSE on September 18 (^). Some additional information that you may find useful are:-
Financial Snapshot
- Revenue (Rs Crores): 6110.9 in FY24 (v/s 4507.5 in FY23 and v/s 2555.6 in FY22)
- EBITDA (Rs Crores): 277.4 in FY24 (v/s 174.5 in FY23 and v/s 141.9 in FY22)
- EBITDA Margins (%): 4.5 in FY24 (v/s 3.9 in FY23 and v/s 5.6 in FY22)
- PAT (Rs Crores): 154.3 in FY24 (v/s 93.7 in FY23 and v/s 69.5 in FY22)
- PAT Margin (%): 2.5 in FY24 (v/s 2.1 in FY23 and v/s 2.7 in FY22)
- RoE (%): 28.9 in FY24 (v/s 25.1 in FY23 and v/s 22.5 in FY22)
- RoCE (%): 27.3 in FY24 (v/s 23.3 in FY23 and v/s 19.9 in FY22)
- No of Stores: 36 in FY24 (v/s 34 in FY23 and v/s 32 in FY22)
- Avg Revenue (Rs in crores per store): 169.7 in FY24 (v/s 132.5 in FY23 and v/s 79.8 in FY22)
- Revenue (Rs per sq.ft.): 602,974 in FY24 (v/s 473,653 in FY23 and v/s 279,733 in FY22)
Promoters of the company are Saurabh Vidyadhar Gadgil, Radhika Saurabh Gadgil and SVG Business Trust Currently promoters hold 100% stake in the company. While post-equity promoters stake will be 86.95%
- Company aims to raise between Rs 1,100 to 1,100 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Funding towards setting up 12 new stores in Maharashtra - Rs 392.5 crores 2) Re-payment of Debt - Rs300 crores and 3) General corporate purposes
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 09-Sep-24.
- Price band for the IPO has been fixed at Rs 456 to 480 per share and bid lot are in multiple of 31 shares. The implied market cap post-issue at Rs 6,231 to 6,514 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on September 13 and share are expected to be listed on NSE, BSE on September 18.
- Company has direct peer competition in India'a Jewellery sector. In Listed space peers include Titan Company Limited (Tanishq), Kalyan Jewellers India Limited, Senco Gold Limited and Thangamayil Jewellery Limited among others.
- Motilal Oswal Investment Advisors, Nuvama Wealth Management, BoB Capital Markets has been appointed as Merchant Banker to the issue. Bigshare Services Pvt. Ltd. has been appointed as official registrar of the issue.
Key Pointers of PN Gadgil Jewellers IPO:
| PN Gadgil Jewellers Limited IPO Snapshot | UdhyamPitch on X | |||
|---|---|---|---|
| Established | City | Sector | Sub-Sector |
| 2013 | Pune | Consumer | Gems & Jewellery Retail |
| Issue | Issue Type | Tentative Listing Date | Listing at |
| IPO (Fresh+OFS) | Book Building | 18-Sep-24 | NSE, BSE |
| IPO Dates | Price Band (Rs/sh) | Face Value (Rs/sh) | Min Lot Qty |
| 10-Sep-24 to 12-Sep-24 | ₹ 456 to 480 per sh | ₹ 10 per sh | 31 sh and in multiples |
| Retail App (min) | Retail App (max) | Non-Retail (Rs2-10L App) | Non-Retail (>Rs10L min App) |
|
31 shares ₹ 14,880 |
403 shares up to ₹ 193,440 |
434 to 2,077 shares ₹ 208,320 to 996,960 |
2,108 shares and above ₹ 1,011,840 and above |
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
About PN Gadgil Jewellers Limited
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 39 retail stores (as on July 31, 2024) and various online marketplaces, including company's website.
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Financial Snapshot
- Revenue (Rs Crores): 6110.9 in FY24 (v/s 4507.5 in FY23 and v/s 2555.6 in FY22)
- EBITDA (Rs Crores): 277.4 in FY24 (v/s 174.5 in FY23 and v/s 141.9 in FY22)
- EBITDA Margins (%): 4.5 in FY24 (v/s 3.9 in FY23 and v/s 5.6 in FY22)
- PAT (Rs Crores): 154.3 in FY24 (v/s 93.7 in FY23 and v/s 69.5 in FY22)
- PAT Margin (%): 2.5 in FY24 (v/s 2.1 in FY23 and v/s 2.7 in FY22)
- RoE (%): 28.9 in FY24 (v/s 25.1 in FY23 and v/s 22.5 in FY22)
- RoCE (%): 27.3 in FY24 (v/s 23.3 in FY23 and v/s 19.9 in FY22)
- No of Stores: 36 in FY24 (v/s 34 in FY23 and v/s 32 in FY22)
- Avg Revenue (Rs in crores per store): 169.7 in FY24 (v/s 132.5 in FY23 and v/s 79.8 in FY22)
- Revenue (Rs per sq.ft.): 602,974 in FY24 (v/s 473,653 in FY23 and v/s 279,733 in FY22)
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).
| PN Gadgil Jewellers Limited IPO Dates | UdhyamPitch on X | |
|---|---|
| Anchor Open | 09-Sep-24 |
| IPO Open | 10-Sep-24 |
| IPO Close | 12-Sep-24 |
| Allotment | 13-Sep-24 |
| Credit of Shares | 17-Sep-24 |
| Refund | 17-Sep-24 |
| Listing | 18-Sep-24 |
| Anchor Investor Lockin (50% of Anchor book investment) | |
| Anchor Investor Lockin (Balance 50% of Anchor book investment) | |
Kindly note UPI Mandate deadline is 5:00 pm IST on closing date. To avoid last minute issue, request you to approve UPI mandate before 4:00 pm IST on last day. In case, UPI mandate has not been approved during the prescribed time period, applications are liable to get rejected.
There are highly chances of variation in dates. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| PN Gadgil Jewellers Limited IPO - Management Details: | |
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Saurabh Vidyadhar Gadgil, Managing Director He has been on the Board of the Company since November 28, 2013. He has completed a master’s programme in business administration from the Institute of Management Education, Pune, Maharashtra, India. He also holds a doctorate in philosophy in business administration from Ballsbridge University, London. He has more than 25 years of experience in the business of manufacturing and trading in jewellery. |
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Parag Yashwant Gadgil, Executive Director He has been on the Board of the Company since November 28, 2013. He holds a diploma in mechanical engineering awarded by the Board of Technical Examination, Maharashtra, India. He has more than 36 years of experience in the business of manufacturing and trading in jewellery. |
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Radhika Saurabh Gadgil, Executive Director She has been on the Board of the Company since February 3, 2017. She holds a bachelor’s degree in commerce from the University of Pune, Maharashtra, India. She also holds a master’s degree in computer management from the University of Pune, Maharashtra, India. She has more than six years of experience in the business of manufacturing and trading in jewellery. |
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Kiran Prakash Firodiya. Executive Director and Chief Financial
Officer He has been on the Board of the Company since February 16, 2023 and was appointed as a Chief Financial Officer of the company from June 1, 2020. He is a chartered accountant and holds a master’s degree in business administration from Allahabad Agricultural Institute, Uttar Pradesh, India, a master’s degree in commerce from the University of Pune, Maharashtra, India. He also holds a diploma in co-operation and accountancy examination awarded by Government Diploma in Co-operation and Accountancy Board, Maharashtra, India. Previously, he had worked with Tata Autocomp Systems Limited, Rexnord India Private Limited, Riverview Properties Private Limited, Ayoki Fabricon Private Limited, Ali and Abdul Karim Trading Co. LLC, Kargwal Developers Private Limited, Reliance Chemotex Industries Limited and B.K. Khare & Co., Chartered Accountants in various roles related to finance and audit. He has over fifteen years of work experience covering finance, audit and treasury operations. |
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Hiranyamai Kulkarni, Company Secretary and Compliance
Officer She is appointed as the Compliance Officer pursuant to a resolution passed by the Board on February 7, 2024. She joined the Company as the Company Secretary on November 13, 2017. She holds a bachelor’s degree in social and legal sciences from Marathwada Mitra Mandal’s Law College, Savitribai Phule Pune University, Maharashtra, India and a master’s degree in law from Savitribai Phule Pune University, Maharashtra, India. She is also a member of the Institute of Company Secretaries of India. Prior to joining our Company, she worked with Supreme Holdings & Hospitality (India) Limited. |
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Visit DRHP / RHP for more details on Board of Directors and
Management details.
| PN Gadgil Jewellers Limited IPO - Details of Offer/Issue Breakup | UdhyamPitch on X | |||||
|---|---|---|---|---|---|
| Category | Quota (%) | No of Shares-Lower | No of Shares-Upper | Value (Rs Cr)-Lower | Value (Rs Cr)-Upper |
| QIB (Incl Anchor) | 50 | NA | 11,458,333 | NA | 550. |
| Non-Retail (NII) | 15 | NA | 3,437,500 | NA | 165. |
| Non-Retail (NII): >Rs10L | NA | 2,291,667 | NA | 110. | |
| Non-Retail (NII): Rs2L-Rs10L | NA | 1,145,833 | NA | 55. | |
| Retail | 35 | NA | 8,020,833 | NA | 385. |
| Employee | NA | . | . | ||
| Shareholder | NA | . | . | ||
| NA=Not Available or Not Calculated | Upper= Upper Price Band | Lower=Lower Price Band | |||||
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| PN Gadgil Jewellers Limited - IPO Merchant Bankers: |
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| Motilal Oswal Investment Advisors |
| Nuvama Wealth Management |
| BoB Capital Markets |
| PN Gadgil Jewellers Limited - IPO Registrar & Transfer Agent (RTA): |
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Bigshare Services Pvt. Ltd. E/2, ANSA INDUSTRIAL ESTATE, SAKI-VIHAR ROAD, SAKINAKA, ANDHERI (E) MUMBAI MAHARASHTRA 400072 |
Check IPO Allotment status of PN Gadgil JewellersIPO:
| PN Gadgil Jewellers Limited - Anchor Lockin Dates and Details | |
|---|---|
| Anchor Investor Lockin (50% of Investment for 30 days) release of | |
| Anchor Investor Lockin (Balance Investment for 90 days) release of | |
Above information is automatically calculated based on estimations. Chances of errors/changes could be possible due to holidays and/or other conditions. Users are requested to Visit BSE, NSE, SEBI for more information or contact the Company/Merchant Banker/RTA for more information.
| PN Gadgil Jewellers Limited - Documents | |
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Disclaimer:
Above article only publishes details on the companies and about forthcoming / upcoming IPO' and are solely intended for educational purpose. We don't solicit or invite any interest of user to invest in any of the investment products. Please review DRHP/RHP/Prospectus for more details about the company, fundamentals and other details. Please visit respective sources to verify and know more details about the IPO. SME IPOs can be more volatile due to smaller market capitalization and liquidity. Prices may fluctuate significantly in response to market conditions. We advise users and/or investors to take opinion from certified and SEBI registered experts before taking any investment decisions.
| Source: SEBI, BSE, NSE |
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