PN Gadgil Jewellers IPO: Shares of jewelry company PN Gadgil Jewellers made a great entry in the domestic market today. Its IPO received more than 59 times the overall bid. Shares have been issued at a price of Rs 480 under the IPO. Today it has entered at Rs 834 on BSE and Rs 785.00 on NSE, that is, IPO investors got more than 73 percent listing gain (PN Gadgil Jewellers Listing Gain).
However, the happiness of IPO investors faded in a short time when the shares fell. It fell to Rs 820.05 (PN Gadgil Jewellers Share Price) on NSE, that is, IPO investors are now in 70.84 percent profit.
PN Gadgil Jewellers IPO got a strong response:
PN Gadgil Jewellers’ ₹1,100.00 crore IPO was open for subscription from 10-12 September. This IPO got a tremendous response from investors, and overall it was subscribed to 59.41 times.
In this, the portion reserved for Qualified Institutional Buyers (QIB) was filled 136.85 times, the portion for non-institutional Investors (NII) was filled 56.08 times and the portion for retail investors was filled 16.58 times. New shares worth Rs 850.00 crore have been issued under this IPO.
Also, 52,08,333 shares with a face value of Rs 10 have been sold under the Offer for Sale window. The money from the offer for sale will be given to the shareholders selling the shares. The company will use the funds raised through new shares to open 12 new stores in Maharashtra, repay loans, and for general corporate purposes.