P N Gadgil Jewellers Raises Rs 330 cr Head Of Its IPO
P N Gadgil Jewellers Limited, has allotted 68,74,999 Equity Shares to 25 anchor investors and raised ₹ 330 Crores ahead of company’s proposed IPO at the upper end of the price band at ₹ 480 per equity share (including premium of ₹ 470 per equity shares) with face value of ₹ 10 per equity share. Out of the total allocation of 68,74,999 Equity Shares to the Anchor Investors, 33,54,199 Equity Shares(i.e. 48.79% of the total allocation to Anchor Investors) were allocated to 10 domestic mutual funds through a total of 18 schemes
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Mumbai, Sep 10: P N Gadgil Jewellers Limited, has allotted 68,74,999 Equity Shares to 25 anchor investors and raised ₹ 330 Crores ahead of company’s proposed IPO at the upper end of the price band at ₹ 480 per equity share (including premium of ₹ 470 per equity shares) with face value of ₹ 10 per equity share. Out of the total allocation of 68,74,999 Equity Shares to the Anchor Investors, 33,54,199 Equity Shares(i.e. 48.79% of the total allocation to Anchor Investors) were allocated to 10 domestic mutual funds through a total of 18 schemes.
The Company’s initial public offering comprises a fresh issue of equity shares of face value of ₹ 10 each aggregating up to ₹ 850 Crores and an offer for sale of equity shares of face value of ₹ 10 each aggregating up to ₹ 250 Crores. The total offer size comprises of equity shares of face value of ₹ 10 each aggregating up to ₹ 1100 Crores. The offer for sale comprises of equity shares of face value of ₹ 10 each aggregating up to ₹ 250 Crores by SVG Business Trust (Promoter Selling Shareholder). The funds raised through the IPO are proposed to be utilized for: (i) the funding of expenditure towards setting-up of 12 new stores in Maharashtra; (ii) repayment or pre-payment, in full or part, of certain borrowings availed by the Company; and (iii) general corporate purposes.
The issue opens tomorrow, 10th September 2024 and closes on Thursday, 12th September 2024.
Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and BOB Capital Markets Limited are the Book Running Lead Managers to the issue.
