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P N GADGIL JEWELLERS Limited IPO Details: Date, Share Price, Size, GMP & Review

P-N-GADGIL-JEWELLERS-Limited-

P N GADGIL JEWELLERS Limited – About the Company

P N GADGIL JEWELLERS is the second biggest organized jewellery company in Maharashtra, India due to its solid brand footing and presence in area. Furthermore, it is a rapidly expanding jewellery brand in India, operating in the Maharashtra region. The company offers extensive selection to its clientele for precious metal/jewellery items, including gold, silver, platinum, and diamond jewellery, from varying price points and designs. As of Dec 31, 2023, the firm had 33 outlets and all its stores are operated and manage under the franchisee-owned ("FOCO") and company-operated (COCO) models. Following the IPO, the business intends to extend its network by building 12 new stores in Maharashtra over the course of 3 years, all funded by the IPO proceeds.

P N GADGIL JEWELLERS IPO Objectives

P N GADGIL JEWELLERS public issue consists of fresh issue and an offer for sale by its existing shareholders.

  • The OFS comprises up to [●] Equity Shares of face value of ₹ 10 each aggregating up to Rs. 2,500 million.
  • The fresh issue comprises up to [●] equity shares aggregating up to Rs. 850 crore. Out of the total fresh issue, Rs 386.97 cr will be reserved for funding expenditure, Rs 300 cr will be reserved for repayment or pre-payment of certain borrowings; and the rest of the amount is reserved for general corporate purposes.

P N GADGIL JEWELLERS IPO Details:

IPO Open Date To be Announced
IPO Close Date To be Announced
Basis of Allotment To be Announced
Listing Date To be Announced
Face Value Rs 10 per share
Price To be Announced
Lot Size To be Announced
Total Issue Size Up to [●] Equity Shares
aggregating up to Rs. 1,100 cr
Fresh Issue Up to [●] Equity Shares
aggregating up to Rs. 850 cr
Offer For Sale Up to [●] Equity Shares
aggregating up to Rs. 250 Cr
Issue Type Book Built Issue IPO
Listing At BSE & NSE
QIB Shares Offered Not more than 50% of the Net Issue
Retail Shares Offered Not more than 35% of the Net Issue
NII (HNI) Shares Offered Not more than 15% of the Net Issue

 

P N GADGIL JEWELLERS IPO Issue Price & Size

The issue price of the P N GADGIL JEWELLERS  LIMITED IPO is between the price ranges of Rs. XXX and Rs. XXX. Investors looking to bid can apply for the P N GADGIL JEWELLERS  LIMITED IPO between these price bands. The total issue size of the P N GADGIL JEWELLERS  LIMITED IPO is Rs. 1,100 crores. P N GADGIL JEWELLERS  IPO issue is a combination of an offer-for-sale (OFS) by selling prompters aggregating to of Rs. 250 cr shares and a fresh issue of Rs 850 crores.

P N GADGIL JEWELLERS IPO Launch Date

P N GADGIL JEWELLERS  IPO will be open on (XX-XX-XXXX) and close on the (XX-XX-XXXX). All types of investors can bid of this IPO between these dates through their eligible categories.

P N GADGIL JEWELLERS Financial Statements:

Particulars For the period ended

Sept 30, 2023

Fiscal 2023 Fiscal 2022 Fiscal 2021
Revenue from operations 26278.49 45075.19 25556.34 19300.63
Other Expenses 32.91 517.92 306.71 143.75
Cost of Materials Consumed 24398.77 41454.25 23.055 17454.35
Employee Benefits Expenses 424.04 752.89 621.6 534.04
Finance Cost 206.78 348.999 351.44 379
Depreciation and Amortization Expenses 117.29 215.37 218.08 267.04
Other Expenses 562.16 1640.78 766.46 743.48
Total Expenses 25709.05 44412.28 25012.74 19377.91
Profit 437.5 937 695.15 -67.1
Basic EPS 7.93 16.97 12.59 -1.22
Diluted EPS 3.71 7.94 5.89 -1.17

 

 

Key Metrics
Particulars For the period ended

Sept 30, 2023

Fiscal 2023 Fiscal 2022 Fiscal 2021
Revenue from operations 26278.49 45075.19 25556.34 19300.63
Revenue from operations per store 769.32 1325.74 798.64 603.14
Revenue from operations per sq. feet 274063.39 473953.27 279733.19 212811.07
EBITDA 926.43 1745.2 1419.83 712.5
EBITDA Margin 3.53 3.87 5.56 3.69
EBITDA per store 28.07% 51.33% 44.37% 22.27%
PAT 437.5 937 695.15 -67.1
PAT margin 1.66% 2.08% 2.72% -0.35%
PAT per store 13.26 27.56 21.72 -2.1
ROE 10.28% 25.09% 22.48% -2.65%
ROCE 10.71% 23.29% 19.89% 8.08%
Working capital days 44 41 80 113
Marketing expenses 191.33 299.6 91.62 59.75
Yield on Marketing expenses 137.34 150.45 278.94 323.02

 

 

P N GADGIL JEWELLERS IPO Promoters & Shareholding of the Company

Name of the Shareholder Number of Eq. Shares pre-Offer % of the pre- Offer paid-up Eq. Share capital
Saurabh Vidyadhar Gadgil 100 Negligiable
Radhika Gadgil 100 Negligiable
SVG Business Trust 117999400 99.90%
Vaishali Vidyadhar Gadgil 100 Negligiable
Aditya Saurabh Gadgil 100 Negligiable
SVG Family Trust 100 Negligiable
Saurabh Vidyadhar Gadgil HUF 100 Negligiable

 

As on the date of filing DRHP, Saurabh Vidyadhar Gadgil, Radhika Saurabh Gadgil and SVG Business Trust are the Promoters and in aggregate holds 99.99 % of the pre-Offer paid-up Equity Share capital of our Company.

Why Invest in P N GADGIL JEWELLERS IPO?

While investing in an IPO-bounded company you should check its fundamentals that help to know its financial performance and competitive strength that drives its business growth. Fundamental analysis apart from financial and competitive strength, also help you to know the risk factors that can affect the business operations and future prospects of the company. After evaluating the variables such strength weakness, financials, you may strike a balance and decide to invest or not invest in an IPO.

Also Read: Difference Between Fundamental Analysis and Technical Analysis

In a listed company, apart from fundamental analysis, you can also perform the technical analysis, which also helps to know the share price valuation and movement as per the performance of the company. However, for an unlisted company, or company that introduced the IPO, you have only options to analyse the fundamentals of the company and compare the share price valuation from its listed peer group companies.

Competitive Strengths:

Established and trusted brand in Maharashtra

The 'PNG' brand's dedication to quality and transparency has created a solid footing in Maharashtra, offering a diverse choice of designs and product to meet a wide spectrum of client tastes and trends, at all price points and for a number of events.

2nd largest organized retail jewellery player in Maharashtra

P N GADGIL JEWELLERS market EBITDA growth rate of 56.50% between Fiscal 2021 and Fiscal 2023. Also, the jeweller witnessed biggest rise in return on equity (ROE) between Fiscal 2021 and Fiscal 2023, as well as the highest revenue per square foot in Fiscal 2023.

Diverse portfolio across categories and pricing segments.

Company through its vast offering ranging from rings, earrings, pendants, bracelets, necklaces, chains, waistbands, and bangles; want to act as one-stop-shop for its customers. As of Sep 30, 2023, the company's product range includes approximately 10,000 gold SKUs, 1,200 silver SKUs, 2,700 platinum SKUs, and 24,000 diamond jewellery designs.

Expansion through branding

Through this public offering, company aims to expand its retail network in India. The business intends to open nine more stores by Fiscal 2025 and three more by Fiscal 2026, all such expansionary plan would be funded by IPO proceeds.

Risks Factors:

Business primarily concentrated in Maharashtra

The majority of stores are located in Maharashtra and top five stores hold significant percent of revenue as compared to contribute to total number of stores. Any effect on the operationality of the stores may adversely affect business, results of operations, financial condition, and cash flows.

Inability to manage business expansion

The company sells its products through large, medium, and small stores format. Between FY21-23, the company opened four new stores, an average of approximately two opening per year across multiple regions and simultaneously closed its branches. Going forward with the expansionary plan, if the new stores failed to establish their existence, it could have effect on realize its investment cost, margin and profitability of company.

Location of Store Date of Closure
COCO Stores
Hinjewadi March 03, 2021
Vasai February 28, 2021
Indore February 23, 2021
Dubai, UAE March 29, 2023
FOCO Stores
Aundh June 23, 2023
Undore June 30, 2023
Aurangabad September 30, 2023

 

Volatile raw materials

As countries march through near shoring, price of raw material and precious metal has seen swing up in prices. In India, jewelry industry is affected by the economy outlook, inflation, prices of precious metals. The company's business relies on timely procurement of raw materials and as gold prices have increased by approximately 40% from Fiscal 2022, this meteoric rise in prices could affect demand dynamics to investment dynamics.

Particulars For the six months ended September 30, 2023 For the Year ended March 31, 2023 For the Year ended March 31, 2022 For the Year ended March 31, 2021
Cost of material consumed 24,398.77 41,454.25 23,055.16 17,454.35
Cost of material consumed as % of total expense 94.9 93.34 92.17 90.07

 

P N GADGIL JEWELLERS IPO Grey Market Premium (GMP)

Grey market premium is the premium quoted over the IPO issue price. GMP shows that investors are ready to pay above the upper band of the IPO issue price. GMP is determined in the grey market as per the demand and supply of the shares in the primary market. A grey market is that unofficial ecosystem of unlisted companies' stocks that start trading even before the launch of the IPO to the date of its listing.

Also Read: What is Grey Market Premium in IPO: How is GMP Calculated & Reliable

However, GMP is not a reliable factor, as it keeps fluctuating as per the demand and supply of shares in the primary market. There are numerous factors that affect the stock market in India and individual stock prices of different companies that are already listed and trading in the secondary market. However, for an IPO-bounded company, you can consider the GMP as the speculative listing price of the share

According to various online sources, the Grey Market Premium or GMP of the P N GADGIL JEWELLERS is trading around Rs XXX in the grey market. It means shares are trading at the upper band issue price of Rs XXX with a premium or discount in the grey market and may list around the same price.

How to Apply for P N GADGIL JEWELLERS IPO?

To apply in P N GADGIL JEWELLERS IPO you need to opendemat account to hold your allotted shares and a trading account to sell or buy the shares into the secondary market. And not only applying in the IPO, but while buying or selling the shares in the stock market you also need both these types of accounts. Hence, you can apply here at Moneysukh to open a trading and demat account at the lowest brokerage.

Also Read: Features of Best Demat Account with Lowest Brokerage Charges in India

Having both these accounts at Moneysukh, you will get the advantages of the best online trading apps to trade or invest in equitiescommodities and currencies. Here you will get the flexibility to choose the best trading platform and advanced trading software like Keev,TradeTronQuantmanAlgoBulls,Trade Radarand FoxTrader all integrated with TradingView to facilitate the best trading experience.

Also Read: Equity or Commodity which is better for Trading or more Profitable

Moreover, you can also start algo-trading – a high-frequency trading mechanism to choose the best algo-trading platforms and trade with best intraday algo-trading strategy at the lowest brokerage pricing. At Moneysukh you can also get stock recommendations and tips backed with research reports and useful tutorials on the stock market to help the clients understand the stock market in a better way. However, right now to apply for the P N GADGIL JEWELLERS IPO you can follow the steps given below.

Steps to Apply for P N GADGIL JEWELLERS IPO:

Step 1: When P N GADGIL JEWELLERS IPO opens you can bid online.

Step 2: Just go to trade.moneysukh.com and log in with your User ID & password.

Step 3: Now look for the IPO section and click on the P N GADGIL JEWELLERS IPO.

Step 4: Here you need to fill in the required details like price, quantity, and so on.

Note: At the time of applying for the IPO, make sure to bid at the cutoff price and then submit your application. 

Step 5: Now make the required payment and then submit your IPO application successfully.

How to Check P N GADGIL JEWELLERS IPO Allotment Status?

Checking the allotment status online is very easy if you have the PAN details and IPO application number. But checking the details of the IPO allotment is possible only when the basis of allotment is arrived. In the case of P N GADGIL JEWELLERS IPOyou can also check the allotment status through various online sources.

Also Read: How to check IPO allotment status on NSE, BSE through Moneysukh

And the basis of the allotment is highly dependent on the oversubscription of the IPO. If the IPO is oversubscribed by many folds, then for the investors who applied through the retail category or HNI category, the chances of getting the allotment become very low. Here while applying to such over-demanding IPOs you can follow some tips to improve your chances of getting the allotment in IPO.

Also Read: How to Increase the Chances of IPO Allotment

And when due to oversubscription of IPOs, you don’t get any allotment of shares, then your money will be refunded back into your bank account or fun will be unblocked if you applied through ASBA. However, despite the oversubscribed IPO, if get the allotment then the allocated shares will be transferred into your demat account any time before the date of listing. That you can sell in the secondary market after listing or keep from the long-term investment point of view.

Also Read: Why You Should Invest in the Stock Market: Reasons & Benefits

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