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Dolat Capital Report
PN Gadgil Jewellers Ltd. will launch its initial public offering today and the offer closes for subscription on Sept. 12. The Maharashtra-based second largest prominent organized jewellery player in terms of number of stores has set a price band of Rs 456 to Rs 480 per share.
The Rs 1,100 crore IPO comprises of fresh issue of equity shares worth Rs 850 crore and an offer for sale of equity shares worth Rs 250 crore.
The company’s shares are expected to list on the BSE and NSE, with the tentative listing date set for Sept. 17.
Objects of the issue
The net proceeds from the issue would be used towards:
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Funding expenditure towards setting up of 12 new stores in Maharashtra, India.
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Repayment or pre-payment of certain borrowings availed by the company.
Click on the attachment to read the full IPO report:
PN Gadgil IPO Opens On Sept. 10: From Issue Price To Financials, All You Need To Know
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