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P N Gadgil IPO
Price Band
₹456.0–480.0
Issue Size
₹1100.0 Cr
Lot Size
31 shares
Min Investment
₹14,880
GMP
+₹303.5 (63.23%)
Issue Price
₹480.0
Subject to Sauda
₹7200
Paid only if allotted
P N Gadgil IPO AI Summary
- P N Gadgil IPO is listed on BSE, NSE in the Gems, Jewellery And Watches sector.
- Price band: ₹456.0–₹480.0 per share, lot size 31 shares (min. investment ₹14,880).
- Subscription window: 10 Sep–12 Sep 2024, listing on 17 Sep 2024.
- Current GMP is +₹303.5 (63.23%), an estimated listing price of ₹784 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
P N Gadgil IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 12 Sep 2024 — not a current signal.
3 of 4 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
P N Gadgil IPO Grey Market Premium (GMP) Today
GMP
+₹303.5
GMP %
+63.23%
Est. Listing
₹783.5
Updated: 25 Jul 2026 14:04
About the Company
P N Gadgil Jewellers Limited was established in 2013 and offers a wide range of precious metal/jewelry products including gold, silver, platinum, and diamond jewelry under its brand name "PNG" in various price ranges and designs. As of December 31, 2023, the Company has 8 sub-brands offering gold jewelry collections for various occasions, namely Saptam, Swarajya, Rings of Love, The Golden Katha of Craftmanship, Flip, Litestyle, Pratha and Yoddha, two sub-brands offering diamond jewelry collections, namely Eiina and PNG Solitaire, and two sub-brands offering platinum jewelry collections, namely Men of Platinum and Evergreen Love. The company also offers its customers the option of having jewelry made to measure. As of December 31, 2023, the Company had grown to 33 stores, including 32 stores across 18 cities in Maharashtra and Goa and one store in the US with a total retail space of approximately 95,885 sq. ft. All stores are operated and managed by the company, with 23 stores owned by the company and 10 stores operated by franchisees under the FOCO (franchisee-owned and company-operated) model. Of these stores, 19 are large format (2,500 sq. ft. or more), 11 are medium format (between 1,000 sq. ft. to 2,500 sq.ft.) and 3 are small format (less than 1,000 sq. ft.). As of September 30, 2023, the company had 1,152 employees.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 1,464.98 | 1,062.55 | 1,110.24 |
| Total Income | 6,119.10 | 4,559.31 | 2,586.31 |
| Profit After Tax | 154.34 | 93.70 | 69.52 |
| NET Worth | 534.38 | 365.73 | 282.01 |
| Reserves and Surplus | 255.53 | 191.22 | |
| Total Borrowing | 396.50 | 283.21 | 294.93 |
Key Ratios
EPS
₹13.08
NAV
₹45.29
ROE
28.88%
ROCE
27.31%
RoNW
28.88%
P/B Value
10.60
P/E Ratio
36.7
Market Cap
₹6514.00 Cr
PAT Margin
2.53%
Debt/Equity
0.74
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Thangamayil Jewellery Ltd | 179.74 | 24.99% | 42.89 | 44.91 | 44.91 |
| Senco Gold Limited | 175.74 | 13.26% | 45.5 | 24.06 | 23.98 |
| Kalyan Jewellers India Limited | 40.67 | 14.23% | 101.53 | 5.8 | 5.8 |
| P N Gadgil Jewellers Limited This IPO | 45.29 | 28.88% | — | 21.59 | 13.08 |
Promoters
Saurabh Vidyadhar Gadgil, Radhika Saurabh Gadgil and SVG Business Trust
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding expenditure towards setting up of 12 new stores in Maharashtra (New Stores) 392.57 2 Repayment or pre-payment, in full or part, of certain borrowings availed by the Company 300.00 3 General Corporate Purposes 109.15 Total 801.72
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income grew from ₹2,586.31 Cr for the period ending 31 Mar 2022 to ₹4,559.31 Cr for the period ending 31 Mar 2023, and further increased to ₹6,119.10 Cr by 31 Mar 2024. This indicates a consistent upward trend in revenue over the three periods.
Profit Trend
Profit After Tax rose from ₹69.52 Cr for the period ending 31 Mar 2022 to ₹93.70 Cr for the period ending 31 Mar 2023, and then increased to ₹154.34 Cr by 31 Mar 2024. This shows a positive growth trajectory in profitability across the periods.
Valuation
At the issue price of ₹480, P N Gadgil Jewellers Limited has an implied P/E ratio of 36.7 based on its EPS of ₹13.08. This is compared to its peers, who have P/E ratios ranging from 42.89 to 101.53.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the price at which the shares are being traded in the grey market before they are officially listed. A high GMP often indicates strong demand for the IPO, while a low GMP may suggest weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's essential to consider the company's growth potential and market conditions.
Who May Want to Wait
Conservative investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on September 10, 2024, and closes on September 12, 2024. Allotment of shares will be done on September 13, 2024, and the shares are expected to be listed on the stock exchange on September 17, 2024.
Listing Gains — The Risk
Listing gains refer to the profit made by investors when the shares of an IPO are listed at a price higher than the issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock on the listing day.
This evaluation is generated from P N Gadgil's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is P N Gadgil IPO GMP today?
P N Gadgil IPO GMP today is +₹303.5 (63.23%), indicating an estimated listing price of ₹784. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of P N Gadgil IPO?
The price band of P N Gadgil IPO is ₹456.0–₹480.0 per share.
When does P N Gadgil IPO open and close?
P N Gadgil IPO opens on 10 September 2024 and closes on 12 September 2024.
When does P N Gadgil IPO list on the stock exchange?
P N Gadgil IPO listed on 17 September 2024 at ₹783.5.
What is the lot size for P N Gadgil IPO?
The lot size for P N Gadgil IPO is 31 shares, requiring a minimum investment of ₹14,880.
What is the price band for the IPO?
The price band for the IPO is ₹456 to ₹480.
What is the minimum investment required?
The minimum investment required is ₹14,880.
What is the lot size for the IPO?
The lot size for the IPO is 31 shares.
When is the listing date?
The listing date is expected to be September 17, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
10 Sep 2024
Close
12 Sep 2024
Allotment
13 Sep 2024
Listing
17 Sep 2024
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