PN Gadgil Jeweller Share Price Today: PN Gadgil, a major jewellery brand, made a strong debut on the stock markets as its shares were listed at Rs 834 on BSE, with a premium of 73.74 percent over the issue price of Rs 480. PG Gadgil stock was listed at Rs 830 on NSE with a premium of 72.92 percent. The listing of shares exceeded expectations as shares of PN Gadgil were commanding a grey market premium (GMP) of Rs 300-305 per share in the unofficial market.
Pune-based PN Gadgil recently launched its IPO with shares priced between Rs 458 and Rs 480 each, with a minimum purchase of 31 shares. The IPO, open from September 10 to September 12, aimed to raise about Rs 1,100 crore. This included a new share issue worth Rs 850 crore and an offer-for-sale of 52,08,333 shares.
The IPO received 59.41 times more applications than there were shares available. Qualified institutional investors (QIBs) showed the most interest, with their share being subscribed 136.85 times. Non-institutional investors (NIIs) subscribed 56.09 times, and retail investors subscribed 16.58 times.
PN Gadgil is a renowned jewellery brand which offers a wide range of of precious metal/jewelry products including gold, silver, platinum, and diamond jewelry under its brand name ‘PNG’. The Pune-based company, founded in 2013, allows customers to create custom jewelry.
Brokerage firms generally recommend investing in the IPO for the long term. Motilal Oswal Investment Advisors, Nuvama Wealth Management, and BoB Capital Markets were the main managers of the PN Gadgil Ltd IPO, and Bigshare Services handled the registration for the offering.
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