PNG Jewellers IPO: The allotment of shares of Rs 1,100 crore public issue of PNG Jewellers was finalised last week, and the next process is for the credit of shares to eligible shareholders' demat account. The latest GMP continues to hint at a strong listing, which is scheduled later this week as well.
PNG Jewellers IPO Allotment:
The company's shares allotment took place on September 13, 2024. There are three options to check PNG Jewellers IPO share allotment status, which are BSE, NSE and Bigshare Services Private Ltd.
To check the application status on Bigshare Services - Click on the link below.
As per the schedule in the red herring prospectus, PNG Jewellers will credit shares to eligible shareholders' demat accounts on Monday, September 16. On this day, the company will also initiate refunds to those investors who could not be eligible for the shares.
The determining of eligible shareholders was done during the allotment process on September 13.
PNG Jewellers IPO GMP:
As per Investo Grain, P N Gadgil Jewellers IPO last GMP is ₹330, last updated Sep 14th 2024 11:24 PM. With the price band of 480.00, P N Gadgil Jewellers IPO's estimated listing price is ₹810 (cap price + today's GMP). The expected percentage gain/loss per share is 68.75%.
PNG Jewellers IPO Details:
The Rs 1,100 crore IPO was opened on 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 a whopping 136.85x. Non-Institutional Investors (NII) and Retail Individual Investors (RIIs) portions oversubscribed by 56.09x and 16.58x respectively.
PNG Jewellers IPO Listing:
The IPO is expected to be listed on BSE and NSE on September 17, 2024.
After listing, the market valuation of PNG Jewellers is expected to be over Rs 6,510 crore. PNG's competitors on the stock market will be Titan Company, Kalyan Jewellers, PC Jewellers, Senco Gold, Thangamayil Jeweller, and Tribhovandas Bhimji among others.
According to brokerage Swastika, the company has demonstrated consistent growth in both revenue and profit, with a recent improvement in margins after a temporary setback.
By the end of FY24, PNG's equity share capital has more than doubled to Rs 118 crore from Rs 55.2 crore in FY23. While net worth has significantly jumped to Rs 534.37 crore versus Rs 365.73 crore in FY23. The company's ROCE is also strong at 27.31% in FY24 versus 23.29% in FY23.
Meanwhile, revenue has significantly jumped to Rs 6,110.94 crore in FY24, as against Rs 4,507.51 crore in FY23. Net profit climbed to Rs 154.34 crore versus Rs 93.7 crore in FY23.
PN Gadgil Jewellers Limited offers a wide range of precious metal/jewelry products including gold, silver, platinum, and diamond jewelry under its brand name "PNG" in various price ranges and designs.
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