P N Gadgil Jewellers listing: Shares list with bumper gains; debut at a premium of 74%

P N Gadgil Jewellers share listing: After receiving a good response for its Rs 1,100 crore initial share sale, P N Gadgil Jewellers debuted on the D-Street in Tuesday's session. As against the IPO price of Rs 480, the stock listed at Rs 834, a premium of 74 per cent, on the BSE. While on the NSE, it settled at Rs 830- a listing gain of 73 per cent.

The issue received 59.4 times subscription, led by QIB investor category who subscribed for 136.85 times the subscription allowed for them.

After the issue, promoter stake in the entity will be reduced to 83.11 per cent. 

The company through the issue intended to fund ​expenditure towards setting-up of 12 new stores in Maharashtra. Also to repayment or pre-payment, in full or part, of certain borrowings availed by the company and other general corporate purposes.

Zee Business Managing Editor Anil Singhvi suggests subscribing to the issue for a good listing gain. He said that investors should subscribe for long-term gains.

About P N Gadgil Jewellers 

P N Gadgil Jewellers was originally incorporated on October 28, 2013. The ‘PNG’ brand carries forward the legacy of the ‘P N Gadgil’ brand, offering a wide range of precious metal and jewellry products, including gold, silver, platinum, and diamond jewellry, across various price points and designs.