Wed Sep 11 06:00:19 UTC 2024: ## P N Gadgil Jewellers IPO Opens for Bidding, Aims to Raise Rs 1,100 Crore

**Mumbai, September 10, 2024:** P N Gadgil Jewellers, a prominent name in the Indian jewellery market, launched its initial public offering (IPO) on Tuesday, aiming to raise Rs 1,100 crore. The IPO, which closes on September 12, 2024, comprises a fresh issue of shares worth Rs 850 crore and an offer for sale of shares worth Rs 250 crore.

The price band for the IPO has been fixed between Rs 456 and Rs 480 per share. Retail investors can apply with a minimum lot size of 31 shares, while the minimum investment for small non-institutional investors (sNII) and big non-institutional investors (bNII) is Rs 208,320 and Rs 1,011,840 respectively.

The IPO is expected to be listed on the BSE and NSE on September 17, 2024.

**Positive Outlook Amidst Growing Gold Demand**

Analysts are optimistic about the IPO, citing the recent surge in gold prices and the festive season driving up retail demand for gold. An Anand Rathi report highlights that PNG Jewellers’ strong brand recall and stable profits, combined with the company’s long-term growth potential, make it a promising investment.

The report further mentions that the company’s implied market cap at the upper price band is around Rs 65,130 crore, valuing it at a PE of 42.2 times for FY24.

**Grey Market Premium Signals Positive Sentiment**

The current grey market premium (GMP) for P N Gadgil Jewellers IPO stands at Rs 245. With the price band at Rs 480, the estimated listing price for the IPO is Rs 725, suggesting a potential gain of 51.04% per share.

**Disclaimer:** The views expressed in this article are solely those of the experts and do not reflect the views of India Today Group. It is essential to consult with a qualified financial advisor before making any investment decisions.

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