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TCS, HDFCBANK, SBI Liquid Fund (G)
PN Gadgil Jewellers Ltd.

PNGJL

Equity

BSE,NSE

Min. Investment

4,56,000.00

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IPO Details

Bidding Dates

10 Sept 24 - 12 Sept 24

Price Range ₹

456 - 480

Total Equity

810.53Cr

Lot Size

31

Exchange Status

BSE,NSE

IPO Doc

Subscription Rate

Non-Institutional Investor

16.58×

Qualified Institutional Buyers

136.85×

Employees

0.00×

Retail Investors

16.58×

Total subscription Rate

59.41×

IPO Timeline

Allotment

--

Refund initiation

--

Demat transfer

--

Offer start

10 Sept 2024

Offer end

12 Sept 2024

Listing

17 Sept 2024

About Company

Established in 2013, P N Gadgil Jewellers Limited offers an extensive range of jewelry products, including gold, silver, platinum, and diamond pieces, under its well-known brand "PNG." The company caters to a variety of price points and designs, providing customers with diverse options in precious metals and jewelry. As of December 31, 2023, the company features eight sub-brands for gold jewelry collections tailored to different occasions, including Saptam, Swarajya, Rings of Love, The Golden Katha of Craftmanship, Flip, Litestyle, Pratha, and Yoddha. Additionally, it has two sub-brands for diamond jewelry, Eiina and PNG Solitaire, as well as two sub-brands for platinum jewelry, Men of Platinum and Evergreen Love. Customers can also opt for made-to-measure jewelry services. By the end of 2023, the company expanded its retail presence to 33 stores—32 across 18 cities in Maharashtra and Goa, and one in the US—covering a total retail area of approximately 95,885 square feet. The stores are operated and managed by the company, with 23 owned directly and 10 operated under a franchise-owned, company-operated (FOCO) model. The store formats include 19 large (2,500 sq. ft. or more), 11 medium (1,000 to 2,500 sq. ft.), and 3 small (under 1,000 sq. ft.) outlets. As of September 30, 2023, P N Gadgil Jewellers employed a total of 1,152 staff members.

Year Founded

28-10-2013

Promotor Details

Promoter Holdings Details

ParticularPre-IPOPost-IPO
Percentage10083.11
Share Capital118000000112791667

Offer to Public

1,68,85,964.00 Cr

Highlights

  • P N Gadgil has a strong network of 39 stores across 21 cities, including an international presence in the US.
  • A variety of sub-brands for gold, diamond, and platinum jewellery caters to different customer segments.
  • The company adheres to hallmarking standards and conducts regular quality checks to ensure the purity of its gold.
  • With thousands of SKUs across gold, silver, platinum, and diamond categories, the company offers a wide range of jewellery designs.
  • Steady increases in revenue and profit reflect the company's strong market performance and financial stability.

Challenges

  • The company’s success depends on maintaining a positive brand image, and any negative perception could reduce consumer visits, impacting revenues.
  • A substantial portion of revenue is concentrated in Pune, making the business vulnerable to adverse developments in the region.
  • The company relies entirely on external artisans for manufacturing, and disruptions in production could affect business operations.
  • The company and its related entities are involved in legal proceedings, with potential adverse judgments posing risks to its reputation and business.
  • The company’s revenue is largely driven by gold jewellery sales, making it vulnerable to fluctuations in gold availability or demand.

Financials

YearsTotal AssetsShare CapitalProfit After TaxConsolidated Net ProfitAdjusted EPS
202211,273.501,180.00-67.1010.550.1911
202414,649.791,180.001,543.431,543.4313.0799
202110,254.541,180.00937.00742.8513.4574
202311,037.141,180.001,543.431,543.4313.0799
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