P N Gadgil Jewellers Limited

LISTED

Mainboard IPO · IPO Guide

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Issue Price

₹456 – ₹480

Listed On

17 Sep 2024

Listing Price

₹830 (+72.92%)

Current Price LIVE

₹830 (+72.92%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	31	₹14,880
Retail (Max)	13	403	₹1,93,440
S-HNI (Min)	14	434	₹2,08,320
S-HNI (Max)	67	2,077	₹9,96,960
B-HNI (Min)	68	2,108	₹10,11,840

Retail: ≤ ₹2L • S-HNI: ₹2L–₹10L • B-HNI: > ₹10L Cap Price: ₹480/sh

As per financials, P N Gadgil Jewellers Limited has shown good results, RoNW is 28.8% and P/E is 93.71, 69.52, and 42.20 respectively as per FY22, FY23, and FY24 earnings. So, issue looks fairly priced as compared to listed peers. Company is in business of Jewellery, which is a very fragmented and competitive business segment. So, we give SUBSCRIBE rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

As on Date	QIB	NII	RII	Total
Shares Offered / Reserved	48,24,560	36,18,421	84,42,983	1,68,85,964
Day 1 10-09-24	63,891 (0.01)	1,18,17,076 (3.27)	2,20,41,341 (2.61)	3,39,22,308 (2.01)
Day 2 11-09-24	3,85,516 (0.08)	5,70,11,821 (15.76)	5,91,01,624 (7)	11,64,98,961 (6.9)
Day 3 12-09-24	66,02,26,623 (136.85)	20,29,40,043 (56.09)	13,99,86,607 (16.58)	1,00,31,53,273 (59.41)

Open Date	Sep 10, 2024
Close Date	Sep 12, 2024
Allotment Date	Sep 16, 2024
Listing Date	Sep 17, 2024
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 456 to ₹ 480 Per Equity Share
Issue Size	Total Equity Shares of 2,29,16,666 with aggregating up to Rs 1,100/- Cr Fresh Issue of Up to 1,77,08,333 with aggregating up to Rs 850/- Cr Offer for sale Up to 52,08,333 with aggregating up to Rs 250/- Cr
Retail Min Lot	1 Lot (31 Shares - ₹ 14,880)
Retail Max Lot	13 Lots (403 Shares - ₹ 1,93,440)
S-HNI Min Lot	14 Lots (434 Shares - ₹ 2,08,320)
S-HNI Max Lot	67 Lots (2,077 Shares - ₹ 9,96,960)
B-HNI Min Lot	68 Lots (2,108 Shares - ₹ 10,11,840)
Allocation	QIB: 50% \| NII: 15% \| RII: 35%
Promoter Shareholding	100% (Pre-Issue) 83.11% (Post-Issue)
Registrar	Bigshare Services Private Limited
Lead Manager	BOB Capital Markets Limited, Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited

As per financial performance, P N Gadgil Jewellers Limited has posted total income / net profits of Rs 2,586.31 Cr / Rs 69.52 Cr (FY22), Rs 4,559.31 Cr / 93.70 Cr (FY23) and Rs 6,119.10 Cr / Rs 154.34 Cr (FY24). So as per previous financials data, company has shown steady growth. Company has an average EPS of Rs 10.57 and average RoNW of 26.55% for last three fiscals. Issue is priced at a P/BV of 10.6 as per NAV of Rs 45.29/- as on 31.03.24. If we attribute latest earnings of FY22, FY23, and FY24, then asking price is at a P/E of around 93.71, 69.52, and 42.20 respectively. As per RHP, comparison between listed peers is shown in above table. On BRLM's front, three lead manager is associated with this IPO, and have handled around 28 IPOs in last three fiscals. Motilal Oswal Investment Advisors Limited: This is 11th IPO from this BRLM. From last 10 IPOs, two opened below issue price and remaining opened above issue price or at par on the day of listing. As of now, from last 10 IPOs, four are trading below issue price and remaining are trading above issue price. (As on 09.09.24) BOB Capital Markets Limited: This is 5th IPO from this BRLM. From last 4 IPOs, one opened below issue price and remaining opened above issue price or at par on the day of listing. As of now, from last 4 IPOs, two are trading below issue price and remaining are trading above issue price. (As on 09.09.24) Nuvama Wealth Management Limited: This is 15th IPO from this BRLM. From last 10 IPOs, two opened below issue price and remaining opened above issue price or at par on the day of listing. As of now, from last 10 IPOs, five are trading below issue price and remaining are trading above issue price. (As on 09.09.24) As per financials, P N Gadgil Jewellers Limited has shown good results, RoNW is 28.8% and P/E is 93.71, 69.52, and 42.20 respectively as per FY22, FY23, and FY24 earnings. So, issue looks fairly priced as compared to listed peers. Company is in business of Jewellery, which is a very fragmented and competitive business segment. So, we give SUBSCRIBE rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

50 Comments

A
akhil 23 Sep 2024, 13:19

niklne vale nikal gye
A
akhil 23 Sep 2024, 13:19

Aram se lege profit
A
akhil 23 Sep 2024, 13:19

bdiya jayga Mt sale krna
A
akhil 23 Sep 2024, 13:19

ravan ji ho kya isme abhi ipoe
A
akhil 20 Sep 2024, 09:54

share bdiya h rakho bhai
A
akhil 20 Sep 2024, 09:54

nhi nikla bhai
R
Ravan 18 Sep 2024, 13:26

ha akhil nikla ya nhi
A
akhil 18 Sep 2024, 08:52

ha aj kruga 850dikha to
A
akhil 18 Sep 2024, 08:52

aj ayege savan bhai mere to ae gye
R
Ravan 17 Sep 2024, 19:58

akhil
R
Ravan 17 Sep 2024, 19:58

sell tommoro
S
SAVAN 17 Sep 2024, 18:44

Gpay Me Mended Revok Dikha Raha He Lekin Paise Aaye Nahi Abhitak Kya Karu
S
SAVAN 17 Sep 2024, 18:40

GPAY UPI SE LAGAYA THA
S
SAVAN 17 Sep 2024, 18:40

Bhai Mera Union Bank Of INDIA Me Abhi Bhi Amount Block He Kya Karu ...
A
akhil 17 Sep 2024, 16:29

63074call me
A
akhil 17 Sep 2024, 16:28

70159
A
akhil 17 Sep 2024, 16:28

ab btao kya khber h apke pass pn ki khber h kya
A
akhil 17 Sep 2024, 16:28

mene bhi sale nhi ki h jisme.se
A
akhil 17 Sep 2024, 16:27

ravan bhai dawn jayga pka
A
akhil 17 Sep 2024, 16:27

ravan ji parnam kya haal chal h apke
R
Ravan 17 Sep 2024, 12:17

hold for tomorrow
A
akhil 17 Sep 2024, 12:04

bdiya h share
A
akhil 17 Sep 2024, 12:04

new leval ab 790ka.h.lelena.jitna.lena.h ab
A
akhil 17 Sep 2024, 12:03

savan bhai yhi kiya
A
akhil 17 Sep 2024, 12:03

yes sale kr diya
S
SAVAN 17 Sep 2024, 10:24

SELL 828
A
akhil 17 Sep 2024, 08:52

long me fir long rhega phle mall.kha.jao.gir.lege.aram.se
A
akhil 17 Sep 2024, 08:51

bn jayga gmp
A
akhil 17 Sep 2024, 08:51

sale kr dena
A
Amit Shah 16 Sep 2024, 18:23

long term ke liye kesa he?
A
Amit Shah 16 Sep 2024, 18:22

GMP kya he latest
A
akhil 16 Sep 2024, 13:26

kl nikal dena 9.45pr fir bola btaya nhi tha
K
krunal bekawala 16 Sep 2024, 12:23

tomorrow
R
Rahul 16 Sep 2024, 10:26

ye aaj lise nahi hua
M
mahek 15 Sep 2024, 21:08

site not working
A
akhil 15 Sep 2024, 15:33

800pr.umid.h h hm bhi 750ki.lgayege ydi 780khula.to.rh jayga 800ki.lgaye to
A
akhil 15 Sep 2024, 15:33

750ki bid lgao.jo.uper.khulega.vo.apka.hoga
C
CHARUSKA 15 Sep 2024, 13:45

Mujhe IPO aalot Hua Hai To Kya Main Usko rakhun ya usko bhech Dun Agar bhech dun to kis Bhav per bhechun
R
Rahul 15 Sep 2024, 08:47

hold ya sell
R
Rahul 15 Sep 2024, 08:46

1/11
A
akhil 14 Sep 2024, 21:11

ravan bhai Bajaj Mt cut krna 1month to 2month me.250hoga.pka
A
akhil 14 Sep 2024, 21:10

koi bhi sale na kre lekin koi manega nhi
A
akhil 14 Sep 2024, 21:10

ravan bhai market bhut gnda h Bajaj ka rakhege vo acha h bhut
N
NJT 14 Sep 2024, 16:23

0/4
J
jay 14 Sep 2024, 16:11

0/6
R
Ravan 14 Sep 2024, 15:57

hold pn gadgil for 1 month
R
Ravan 14 Sep 2024, 15:57

don't listen to akhil
A
akhil 14 Sep 2024, 15:55

pn gadgil nikal dege 9.45pr.
A
akhil 14 Sep 2024, 15:55

Bajaj or lena h listing pr jitna ho ske lelena hold 3month bdiya dega mja h mja
S
sudhir kumar gupta 14 Sep 2024, 15:48

Expected listing price 700-800

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY24	6,119.10	5,910.74	154.34
FY23	4,559.31	4,441.23	93.70
FY22	2,586.31	2,501.28	69.52

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
P N Gadgil Jewellers Limited Current	10.6	42.2	28.8%	6,119
Kalyan Jewellers India Limited	15.8	105	15.2%	19,708
Senco Gold Limited	6.90	44.5	16.3%	5,341
Thangamayil Jewellery Limited	11.9	48.5	28.0%	4,094

P N Gadgil Jewellers Limited

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