PNG IPO Allotment Status: PN Gadgil, situated in Pune, offered its IPO in the price region of Rs 458-480 per share, with a lot size of 31 shares. The subscription date for the IPO was September 10 to September 12.
PN Gadgil Jewellers expects to conclude the basis for the allotment of its shares on Friday, September 13. Bidders will receive notifications, alerts, or emails regarding the debiting of their funds or the revocation of their IPO mandate during the weekend or on Monday.
PN Gadgil Jewellers IPO Details
PN Gadgil, situated in Pune, offered its IPO with the price band of Rs 458-480 per share, with a lot size of 31 shares. Bidding was open from September 10 to September 12. With its primary offering, The company is expected to collect around Rs 160.01 crore by fresh share sale of Rs 104 crore and an offer-for-sale (OFS) of 35.01 lakh shares.
The offer was oversubscribed by 59.41 times, thanks to strong bidding from qualified institutional bidders (QIBs), who received 136.85 times their allocation. During the bidding process, non-institutional investors (NIIs) subscribed 56.09 times, while individual investors subscribed 16.58 times.
PN Gadgil IPO GMP Today
PN Gadgil’s gray market premium has stayed stable despite the turbulence in the broader markets. Last heard, PN Gadgil Jewellers was commanding a premium (GMP) of Rs 330-335 per share in the unofficial market, implying a listing increase of almost 70% for investors. The GMP was at Rs 265-270 a day ago.
PN Gadgil Jewellers distributes a wide selection of precious metal/jewelry products under the ‘PNG’ brand, including gold, silver, platinum, and diamond jewelry in a variety of pricing points and designs. The Pune-based company started in 2013, allows customers to have jewelry made to their specifications.
Brokerage firms are mainly favorable on the issue, advising investors to subscribe for the long term, citing its strong position in Western India, skilled management, solid financial track record, and growth plans. However, the main dangers to the business include high valuations, changes in gold prices, significant working capital requirements, and geographic concentration.
The book-running lead managers for the PN Gadgil Jewellers IPO are Nuvama Wealth Management, Motilal Oswal Investment Advisors, and BoB Capital Markets, with Bigshare Services serving as the registrar. The company’s shares will be listed on the market on Tuesday, September 17.
How To Check The Allotment Status?
Investors who bid on the IPO of PN Gadgil can check the allotment status on the Bombay Stock Exchange (BSE) website:
- Visit https://www.bseindia.com/investors/appli_check.aspx
- Under the issue type, click Equity
- Under the issue name, select P N Gadgil Limited in the dropbox
- Write the application number
- Add the PAN card ID
- Click on ‘I am not a Robot’ and hit submit
Investors can monitor the allotment status on Bigshare Services Limited’s online platform (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue. The registrar is a Sebi-registered company that is authorized to operate as such, electronically processing all applications and carrying out the allocation process outlined in the prospectus.
- Go to the web portal of Bigshare Services Private Limited
- If the allotment is finalized, Select the IPO in Dropbox.
- Select either one of the three modes: Application number/CAF No, Beneficiary ID, or PAN ID.
- Enter the details of the mode you selected.
- For security purposes, fill the captcha accurately
- Hit Search to know your allotment status.
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