PN Gadgil Jewellers has had a great listing in the stock market. It was listed on BSE at Rs 834/share with a 73.75% premium. It was listed on NSE at Rs 830/share with a 72.92% premium. Its issue price was Rs 480. The company’s IPO was subscribed 59.41 times.
The IPO was subscribed 59.41 times till the last day.
Institutional investors: 136.85 times
Non-institutional investors: 56.09 times
Retail investors’ share: 16.58 times
The company’s IPO opened on September 10 and closed on September 12. The company’s target through this IPO was to raise Rs 1,100 crore. The offer included a fresh issue of 1.77 crore shares worth Rs 850 crore and an OFS of 52 lakh shares worth Rs 250 crore. The price band for the IPO was fixed at Rs 456-480 / share.
The company will use the money raised from the IPO for several purposes:
Expenditure on opening 12 new stores in Maharashtra
Some money will be used to pay off debts
The rest will be used to meet corporate expenses
The company’s revenue grew 35.6% to Rs 6,110.9 crore in FY2024 from Rs 4,507.5 crore in the previous fiscal. This was possible due to strong operating performance and possibly increased demand.
This revenue growth has helped the company significantly improve its profitability, which has increased from Rs 122.63 crore in FY 2023 to Rs 269.25 crore in FY 2024. This represents an impressive growth of 119.5%.
The EBITDA margin stood at 4.41% in FY 2024 as against 2.72% in FY 2023. The company’s net profit during this period grew by 64.6% to Rs 154.3 crore as against Rs 93.7 crore in FY 2023, indicating strong bottom-line performance.
