PNG IPO Allotment Status: A lot of interest from people hoping to invest in is the what recently made the IPO of PN Gadgil Jewellers based in Pune an exciting wind up for the market. Should you be one of many tailored investors who keep on waiting for alerts, or do you just want to find out about its financial forecast? In this case, we have put together a comprehensive report regarding allotment status, grey market premium (GMP) and its date, among other aspects.

What is the PN Gadgil Jewellers IPO All About?

PN Gadgil Jewellers, a famous name in the jewelry industry, was trying to obtain about Rs 160.01 crore through its initial public offering (IPO). The offer was classified into a fresh issue of Rs 104 crore and an offer for sale of 35.01 lakh shares. Priced at Rs 458-480 per share, with a lot size of 31 shares, the IPO was open for bidding from September 10 to 12th, 2024.

Due to strong demand across all categories of investors, the investor response was quite impressive with total subscriptions reaching 59.41 times. The Qualified Institutional Buyers (QIBs) took the lead by subscribing to their quota at the rate of 136.85 times. On the other hand, Non-Institutional Individuals (NIIs) had a subscription rate of 56.09 times while Retail Individual Investors (RIIs) subscribed 16.58 times respectively.

How Can I Check My PN Gadgil PNG IPO Allotment Status?

If you’ve participated in the IPO and want to check whether you’ve received an allotment, there are two primary ways to do so:

1. Through the BSE Website:
   • Visit BSE IPO Allotment Page.
   • Select ‘Equity’ under the issue type.
   • Choose ‘PN Gadgil Limited’ from the dropdown menu.
   • Enter your application number and PAN.
   • Complete the captcha and click ‘Search’.
2. Through Bigshare Services:
   • Visit Bigshare Services IPO Status Page.
   • Choose ‘PN Gadgil Limited’ from the dropdown (once allotment is finalized).
   • Select your mode of identification (Application Number, Beneficiary ID, or PAN).
   • Enter the details and complete the captcha.
   • Click ‘Search’ to view your allotment status.

The allotment is expected to be finalized by Friday, September 13, 2024, and investors should receive notifications about the allotment or refunds by the following weekend or Monday.

What is the PN Gadgil Jewellers GMP (Grey Market Premium)?

The Grey Market Premium (GMP) for shares of PN Gadgil Jewellers is currently between ₹330 and ₹335; this indicates a premium of almost 70% above the issue price. Given this premium, it is possible that shares will trade at approximately ₹813 on Tuesday, September 17, 2024, when they list. Investor confidence and possible secondary market demand for the stock are reflected in the GMP.

Here’s a table summarizing the GMP history for PN Gadgil Jewellers’ shares:

Why Was the PN Gadgil IPO So Popular?

1. The high demand for the PN Gadgil Jewellers IPO was due to a number of factors. Such include:
2. Strong Market Presence: PN Gadgil enjoys a well-established brand name, especially in Western India. It has over 33 stores including one in the USA. Their products range from gold, silver, platinum and diamond jewelry to cater for the diverse tastes of their clients.
3. Experienced Management and Growth Plans: The company has an experienced management team and is using the funds raised from the IPO to further expand its footprint which appealed to those who invest for long term.
4. Robust Financial Performance: The performance of PN Gadgil Jewellers has been consistent and positive throughout. In FY23, the company’s revenue increased by 76% year-on-year to ₹4,507 crore while its profit after tax (PAT) rose by 35% to ₹94 crore. There are even brighter expectations for FY24 with projected revenues of ₹6,110 crore and a PAT of ₹154 crore.

Here’s a quick look at the company’s financial performance:

Should You Invest in PN Gadgil Jewellers for the Long Term?

With impressive subscription numbers and the favorable sentiment encapsulated in the GMP, numerous brokerage houses are recommending the IPO for subscription. Factors to consider are discussed below:

Positives:

A strong brand and a long-standing tradition in the Indian jewellery segment define its operations, especially in Western India.

This has translated into solid financial performance over time characterized by steady revenue growth and increasing profitability.

The IPO proceeds shall serve to facilitate further expansion of this Firm thereby increasing value for shareholders.

Risks:

For value investors, one major concern is that its valuation is relatively high compared to its peers.

Margins and profitability of the firm may be affected by fluctuations in gold prices.

The fact that P N Gadgil mainly operates in western India raises a question of geography risk.

Conclusion: What’s Next for PN Gadgil Jewellers?

As we move towards the listing date of September 17, 2024, all attention is directed on how PN Gadgil Jewellers behaves in the secondary market. It is expected that the stock will have a good listing due to a healthy subscription rate, strong investor interest and high GMP. However, long-term investors must also evaluate the risks involved such as company valuation and vulnerability to fluctuations in gold prices.

For people who cannot wait to determine their allotment status, BSE and Bigshare Services are your best bet for updates since the allotments are set to be completed by September 13, 2024.

Disclaimer: The information in this “Stock Profile” blog post is for informational purposes only. It is not financial advice. Always consult a qualified expert before making investment decisions.