PN Gadgil Jewellers IPO subscribed 2x on day 1; NIIs steal the show; Latest GMP here

PN Gadgil Jewellers IPO: On the first day of bidding, the initial public offering (IPO) of PN Gadgil Jewellers Limited received a strong response from Indian primary market investors. According to the PN Gadgil Jewellers IPO subscription status, the public issue has been booked more than the shares the jewellery brand offers.

PN Gadgil Jewellers IPO subscription status

On the first day of bidding, PN Gadgil Jewellers IPO was subscribed 2.01 times. According to BSE data, the portion reserved for retail investors was booked 2.61 times, the portion reserved for NIIs was booked 3.27 times, and the QIB portiom was booked 0.01 per cent.

PN Gadgil Jewellers IPO GMP

The public issue was expected to receive a strong response, as the grey market was highly positive on the mainboard IPO. According to stock market observers, shares of the company are available at a premium of ₹258 in the grey market today. This means PN Gadgil Jewellers IPO GMP (Grey Market Premium) today is ₹258, 53 per cent of the upper price band of PN Gadgil Jewellers IPO.

PN Gadgil Jewellers IPO details

Bidding for the mainboard IPO has opened today and will remain open until 12 September 2024. The most likely PN Gadgil Jewellers IPO allotment date is Friday this week, 13 September 2024. In the wake of the 'T+3' listing rule, the most likely PN Gadgil Jewellers IPO listing date is 17 September 2024, i.e., on Tuesday next week.

Bigshare Services Private Limited has been appointed the official PN Gadgil Jewellers IPO registrar.

Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited, and BoB Capital Market Limited have been appointed Lead Managers of the book build issue.

The company has fixed PN Gadgil Jewellers IPO price band at ₹456 to ₹480 per equity share. The jewellery brand aims to raise ₹1,100 crore from its initial offer. The public issue is a mix of fresh shares and Offer for Sale (OFS). Out of ₹1,100 crore, the company aims to raise ₹850 crore through the issuance of fresh shares and rest ₹250 crore is reserved for the OFS route.