PN Gadgil Jewellers (PNG) IPO shares allotment has been finalised and investors can check their application status online on stock exchanges website like BSE, NSE and its registrar's official portal Bigshare Services. PNG Jewellers witnessed strong demand from investors in its Rs 1,100 crore IPO with oversubscription to the tune of 59.41x. The latest GMP of the IPO is hinting at a double-digit percentage listing ahead. Check out key details here and what to expect on listing day?
PNG Jewellers IPO Allotment Status:
There three options to check PNG Jewellers IPO share allotment status. These are BSE, NSE and Bigshare Services Private Ltd.
To check application status on Bigshare Services - Click on the link below.
After selecting PNG Jewellers in the IPO option in the link, add either 'Application No' or 'Beneficiary ID', or 'PAN' - to check the status. Further, add the captcha code for verification and click on 'Search' button for viewing the allotment status.
To Check Your Application Status On BSE. Click On the link below:
Once directed to the page of IPO allotment of BSE, select ''Equity' under the option of 'Issue Type.' Select PNG Jewellers IPO in the ''Issue Name' dropdown, and enter your PAN card details. Again, to complete the process, add captcha verification and click on 'Search' to view the status of your application.
PNG Jewellers IPO Details:
The Rs 1,100 crore IPO was open from September 10, 2024, and closed on September 12, 2024. The IPO received an oversubscription of 59.41x, driven by the portion of Qualified Institutional Buyers(QIBs) that oversubscribed by whopping 136.85x. Non Institutional Investors (NII) and Retail Individual Investors (RIIs) portions oversubscribed by 56.09x and 16.58x respectively.
PNG Jewellers IPO GMP: As per Investo Grain, P N Gadgil Jewellers IPO last GMP is ₹345, last updated Sep 13th 2024 11:27 PM. With the price band of 480.00, P N Gadgil Jewellers IPO's estimated listing price is ₹825 (cap price + today's GMP). The expected percentage gain/loss per share is 71.88%.
PNG Jewellers IPO Listing Date: The IPO is expected to be listed on BSE and NSE on September 17, 2024.
What To Expect In PNG Jewellers Listing?
As per Swastika, while the company's overall outlook is positive, investors should be aware of potential fluctuations in listing gains due to the competitive IPO market. The brokerage recommends investors hold PNG Jewellers' share price on a long-term basis.
Meanwhile, brokerage IndSec is optimistic about the growth potential of the business given its track record of performance and growth, new store additions, make-to-order service which comes with a high margin and improving sentiments of consumers post rationalization of custom duty on gold import by the government.
P N Gadgil Jewellers is a leading organized gold jeweller retailer prominent in Maharashtra. Over FY22-24, the company's Revenue/EBITDA/APAT has grown at a CAGR of 54.6%/55.5%/63.7%, respectively. In FY24, the company generates the highest revenue per store of Rs 1,567 vs the listed peer's average of Rs 220. Part of the fresh issue proceeds would be utilized to add new 12 stores and strengthen retail presence in Maharashtra. They will also retire debt obligation to the tune of Rs 3,000mn from IPO, this will enable the company to get sanction for non-fund base debt require and avail GML at lower rates, the brokerage highlighted.
Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.
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