Jewelers company’s IPO is coming
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PN Gadgil Jewelers IPO: Amidst the boom in the Indian stock market, many companies are coming out with their IPOs in the market. Meanwhile, it is being told that now the country’s famous jeweler PN Gadgil Jewelers Limited has filed preliminary documents with the capital market regulator SEBI to raise Rs 1,100 crore through Initial Public Offering. According to the papers submitted with SEBI, new shares worth Rs 850 crore will be issued in the proposed IPO of the Maharashtra company. This also includes an offer for sale (OFS) of Rs 250 crore by promoter SVG Business Trust. At present, SVG Business Trust holds 99.9 percent stake in PN Gadgil Jewellers. Out of Rs 850 crore of IPO, Rs 387 crore will be spent on opening 12 new stores in Maharashtra, Rs 300 crore will be spent on repaying the loan and some part on general company functioning.
PN Gadgil is included in the big jewelery companies of Maharashtra
PN Gadgil Jewelers, which is coming into the market with its IPO, is among the second largest jewelers companies of Maharashtra. Its BIS registered stores are spread in many states of India. The company’s stores are opening rapidly in different parts of the country. Its revenue per square feet is going to compete with the big jewelery companies of the country. According to the information given by the company, the EBITDA of the company has increased by 56.50 percent between the financial year 2021 and 2023. According to documents filed with SEBI last week, the company had an outstanding loan of Rs 377.45 crore till February 29, 2024.
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Madhuri Dixit is the brand ambassador of the company
According to the information given by PN Gadgil Jewelers Limited, it has a total of 33 stores as of 31 December 2023. There are 32 stores in different cities of Maharashtra and Goa only. Apart from this, the company also has a store in America. The company also launched a mobile app by the name of PNG in the year 2022. The company has made Madhuri Dixit its brand ambassador.
,Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, get complete information from a good financial advisor. We are not encouraging investment in any company.,
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