P N GADGIL JEWELLERS LIMITED INITIAL PUBLIC OFFERING TO OPEN ON TUESDAY, SEPTEMBER 10, 2024
Jan Hitaishi
2 min read
P N GADGIL JEWELLERS LIMITED INITIAL PUBLIC OFFERING TO OPEN ON TUESDAY, SEPTEMBER 10, 2024
· Price Band fixed at ₹ 456 per equity share to ₹ 480 per Equity Share of face value of ₹10 each of P N Gadgil Jewellers Limited (“Equity Shares”)
Ahmedabad, September 06, 2024: P N GADGIL JEWELLERS LIMITED (the “Company”) proposes to open its initial public offering (“Offer”) on Tuesday, September 10, 2024. Bid/ Offer Closing Date will be Thursday, September 12, 2024. Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, Monday, September 09, 2024.
The Price Band of the Offer has been fixed from ₹456 per Equity Share to ₹480 per Equity Share. Bids can be made for a minimum of 31 Equity Shares and in multiples of 31 Equity Shares thereafter.
The Company’s initial public offering comprises a fresh issue of equity shares of face value of ₹ 10 each aggregating up to ₹ 8,500 million and an offer for sale of equity shares of face value of ₹ 10 each aggregating up to ₹ 2,500 million. The total offer size comprises of equity shares of face value of ₹ 10 each aggregating up to ₹ 11,000 million. The offer for sale comprises of equity shares of face value of ₹ 10 each aggregating up to ₹ 2,500 million by SVG Business Trust (Promoter Selling Shareholder).
The funds raised through the IPO are proposed to be utilized for: (i) the funding of expenditure towards setting-up of 12 new stores in Maharashtra; (ii) repayment or pre-payment, in full or part, of certain borrowings availed by the Company; and (iii) general corporate purposes.
The Equity Shares being offered pursuant to the Red Herring Prospectus are proposed to be listed on BSE and NSE. The Company has received in-principle approvals from BSE and NSE for listing of the Equity Shares pursuant to their letters each dated July 3, 2024.
Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and BOB Capital Markets Limited are the book running lead managers (“Book Running Lead Managers” or “BRLMs”) to the Offer.
