PN Gadgil Jewellers files DRHP papers for the IPO. The company is looking to go public and become a listed company. Thus, they file DRHP paper with SEBI. The jewelry company will be utilizing the funding for different purposes. PN Gadil Jewellers has an online presence. Two co-founders Mr. Govind Gadgil & Dr. Renu Gadgil started the company in early 1832. It is a family legacy carrying forward. Let us take a look at the PN Gadgil Jewellers IPO below.
PN Gadgil Jewellers IPO
PN Gadgil Jewellers files DRHP papers. The company will raise Rs. 1,100 Crores through IPO. It will be utilizing the funds for different purposes. The face value of the shares will be Rs. 10 per share and constitute the fresh issue and offer-for-sale. Thus, the fresh issue will have Rs. 850 Crore with offer-for-sale for Rs. 250 crore.
SVG Business Trust will be providing the offer-for-sale for Rs. 250 Crore. It is one of the promoters of the company. PN Gadgil will utilize the funds to set up 12 new stores. Thus, the expansion of business is the main purpose of the IPO. The store setup will be in Maharashtra. Apart from that, a few of the funding will be utilized for some other general purposes. The company operates on a big scale in the state. Their services are in all over Maharashtra. It is also the second-largest company in jewelry in Maharashtra.
The company is performing financially well. It is all ready for an IPO. Thus, the chances are high that the SEBI will soon approve the DRHP papers. The company is making efforts to become the number one. They are not far away from reaching that goal as well. All the investors are finding it a good chance to invest in the IPO. The IPO details will be published soon.
There are no details about PN Gadgil Jewellers Limited IPO Opening date yet. There are chances that the company will get the approval soon. If we talk about its performance in the last few years, the company made 56.50% growth in two financial years. As per details, it’s among the highest in the country. The company has different aspirations. Everyone is curious to know more about PN Gadgil Jewelery’s price band. However, we will get to know it later. PN Gadgil Jewellery DRHP files are sent successfully. The only wait is for approval after which, the company will have a period of one year to launch its IPO.