P N Gadgil Jewellers IPO Subscription Status

P N Gadgil Jewellers' initial public offering (IPO) has garnered significant investor interest, with subscription rates climbing steadily over the three-day period. Starting modestly on day one, the IPO witnessed a surge in demand, resulting in an impressive 13.31 times oversubscription by the close of day three. This strong response underscores the robust market appetite for P N Gadgil Jewellers' shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 10th September 2024, has seen increasing investor participation across all categories. In particular, the Non-Institutional Investors (NII) segment has shown exceptional demand, while the Retail and Qualified Institutional Buyers (QIB) categories have also demonstrated growing interest.

This enthusiastic response to P N Gadgil Jewellers' IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the jewellery retail sector. The company's strong brand presence and diverse product range appear to have resonated well with investors looking for exposure to India's growing luxury goods market.

Subscription Status of P N Gadgil Jewellers IPO for Days 1, 2, and 3:

On day 1, P N Gadgil Jewellers IPO was subscribed 2.06 times. By the end of day 2, the subscription status had risen to 7.11 times; on day 3, it reached 13.31 times.

Here are the subscription details for P N Gadgil Jewellers IPO as of Day 3 (12th September 2024 at 12:08:08 PM):

Total Applications: 2,688,592

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• ** The portion of anchor investors is not included in the total number of shares offered.

Key Highlights:

• The IPO of P N Gadgil Jewellers is currently subscribed 13.31 times, with exceptional demand from Non-Institutional Investors (NII).
• Non-Institutional Investors (NII) have shown overwhelming interest, with a subscription ratio of 33.40 times.
• Retail investors have demonstrated strong enthusiasm, with a subscription ratio of 11.86 times.
• Qualified Institutional Buyers (QIB) have shown moderate interest, with a subscription ratio of 0.79 times.
• The overall subscription trend significantly increases day-on-day, indicating high investor confidence and positive sentiment towards the issue.

P N Gadgil Jewellers IPO - Day 2 Subscription at 7.11 Times

Key Highlights:

• On Day 2, P N Gadgil Jewellers' IPO was subscribed 7.11 times, with strong demand from Non-Institutional Investors (NII).
• Non-Institutional Investors (NII) showed significantly increased interest with a subscription ratio of 16.09 times, nearly quintupling their subscription from the previous day.
• Retail investors showed increased interest with a subscription ratio of 7.28 times, more than doubling their subscription from the previous day.
• Qualified Institutional Buyers (QIB) showed slightly increased interest with a subscription ratio of 0.10 times.
• The overall subscription trend indicated building momentum, with all investor categories showing increased participation.

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P N Gadgil Jewellers IPO - Day 1 Subscription at 2.06 Times

Key Highlights:

• The IPO of P N Gadgil Jewellers was subscribed 2.06 times on Day 1, with strong initial demand from Non-Institutional Investors (NII).
• Non-Institutional Investors (NII) showed early interest with a subscription ratio of 3.29 times, indicating positive sentiment among this category of investors.
• Retail investors showed solid initial interest with a subscription ratio of 2.71 times.
• Qualified Institutional Buyers (QIB) showed minimal initial interest with a subscription ratio of 0.01 times.
• The strong first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About P N Gadgil Jewellers Ltd:

P N Gadgil Jewellers Limited, established in 2013, is a prominent jewellery retailer offering various precious metal/jewellery products, including gold, silver, platinum, and diamond jewellery, under its brand name "PNG" in various price ranges and designs.

Key features of P N Gadgil Jewellers:

• 8 sub-brands for gold jewellery collections
• 2 sub-brands for diamond jewellery collections
• 2 sub-brands for platinum jewellery collections
• 33 stores as of 31st December 2023: 32 across 18 cities in Maharashtra and Goa, and 1 in the US
• Total retail space of approximately 95,885 sq. ft.
• 23 company-owned stores and 10 franchisee-operated stores under the FOCO model
• Store formats: 19 large format, 11 medium format, and 3 small format
• 1,152 employees as of 30th September 2023

Highlights of the P N Gadgil Jewellers IPO:

• IPO Date: 10th September 2024 to 12th September 2024
• Listing Date: 17th September 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹456 to ₹480 per share
• Lot Size: 31 Shares
• Total Issue Size: 22,916,667 shares (aggregating up to ₹1,100.00 Cr)
• Fresh Issue: 17,708,334 shares (aggregating up to ₹850.00 Cr)
• Offer for Sale: 5,208,333 shares (aggregating up to ₹250.00 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: BSE, NSE