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P N Gadgil Jewellery IPO
P N Gadgil Jewellers Ltd
₹14,136 /31 sharesMinimum Investment
P N Gadgil Jewellery IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹480.00 | ₹830.00 | ₹350.00 (72.92%) |
P N Gadgil Jewellery IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 10 Sep ‘24 - 12 Sep ‘24 | ₹14,136 | 31 | ₹456 - ₹480 |
| Issue Size | IPO Doc |
|---|---|
| 1100.00Cr | RHP PDF |
Subscription rate
As of 12 Sep'24, 05:00 PM
| Qualified Institutional Buyers | 136.85x |
| Non-Institutional Investor | 56.01x |
| Retail Individual Investor | 16.24x |
| Total | 59.22x |
About P N Gadgil Jewellery
Founded in
2013
Managing director
Mr. Saurabh Vidyadhar Gadgil
Parent organisation
P N Gadgil Jewellers Ltd
Strengths & Financials of P N Gadgil Jewellery
Strengths
Risks
As of July 31, 2024, P N Gadgil has 39 stores, situated across 38 locations in 21 cities in Maharashtra and Goa, along with one store in the US.
The brand has eight sub-brands for gold jewellery. These are Saptam, Swarajya, Rings of Love, The Golden Katha of Craftsmanship, Flip, Litestyle, Pratha, and Yoddha. There are two sub-brands by the names Eiina and PNG Solitaire for diamond jewellery, and two in platinum -- Men of Platinum and Evergreen Love.
P N Gadgil adheres to the hallmarking process for its gold jewellery and conducts quality checks every month to ensure the purity of gold.
The company's product portfolio includes over 10,000 stock-keeping units (SKUs) in gold, more than 1,200 SKUs in silver, over 2,700 SKUs in platinum, and over 24,000 SKUs in diamond jewellery designs.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT) over the past few years. Revenue from operations increased from Rs 2,555.63 crore in FY22 to Rs 4,507.52 crore in FY23 to Rs 6,110.94 crore in FY24, while PAT increased from Rs 69.51 crore in FY22 to Rs 93.70 crore in FY23 to Rs 154.34 crore in FY24.
P N Gadgil’s success is based on the public’s positive perception towards the brand and its products. Therefore, the company should be able to market its products effectively. Any negative changes in the public perception towards the brand could reduce consumer visits, which can adversely affect the company’s business and its finances.
A significant portion of the company’s revenue is generated from Maharashtra, especially from Pune. The city contributed Rs 3,948.39 crore (64.61%), Rs 2,820.72 crore (62.58%), and Rs 1,452.74 crore (56.84%) to the revenue from operations in FY24, FY23, and FY22, respectively. Any adverse developments in the city or any of its top five stores in Maharashtra can adversely impact its business’s operations and financial standing.
The company relies on third-party artisans for all production and manufacturing. Any disruptions at these third-party facilities, a shortage of skilled artisans in Maharashtra, or failure to meet quality standards could harm the company's business.
P N Gadgil, along with its promoters, directors, subsidiaries, and group companies, may be involved in certain legal and regulatory proceedings. Any adverse judgments in any of these cases can be detrimental to the reputation of the company and its business prospects.
The company’s revenue generation is majorly dependent on the sale of gold jewellery. Gold sales contributed Rs 5,632.55 crore (92.17%), Rs 4,093.34 crore (90.81%), and Rs 2,303.75 crore (90.14%) in FY24, FY23, and FY22, respectively, to the revenue from operations. Any issues that negatively affect the procurement of gold or sales of gold jewellery can be detrimental to the financial and operational performance of the company.
The company depends to an extent on the performance of its franchisees. Revenue from the sale of products to the company’s franchisees accounted for Rs 455.40 crore, Rs 392.91 crore, and Rs 218.94 crore in FY24, FY23, and FY22, respectively. Any adverse developments in operations or a decline in their performance could negatively affect the company's overall business operations and profitability.
As of July 31, 2024, P N Gadgil had total outstanding borrowings amounting to Rs 348.97 crore. Any inability to service or repay these loans could adversely affect the business.
P N Gadgil Jewellery Financials
*All values are in Rs. Cr
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Application Details of P N Gadgil Jewellery IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹456 - 480 | ₹2 Lakh |
| High Networth Individual | ₹456 - 480 | ₹2 - 5 Lakh |
For P N Gadgil Jewellery IPO, eligible investors can apply as Regular.