P N Gadgil Jewellers IPO

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Company Details

We are the second largest among the prominent organised jewellery players in Maharashtra, in terms of the number of stores as on January, 2024, which is the largest market for BIS-registered outlets in India (Source: Technopak Report). We are also the fastest growing jewellery brand amongst the key organised jewellery players in India, based on the revenue growth between Fiscal 2021 and Fiscal 2023. Our CAGR for revenue from operations for the period between Fiscal 2021 and Fiscal 2023 was 52.82%.

We achieved an EBITDA growth of 56.50% between Fiscal 2021 and Fiscal 2023, which is among the highest in key organised jewellery players in India. We also had the highest increase in ROE from Fiscal 2021 and Fiscal 2023 and the highest revenue per square feet in Fiscal 2023 among the key organised jewellery players in India. Maharashtra leads the retail spending in India and accounted for approximately 15% of the overall retail spend on jewellery in India in Fiscal 2023. (Source: Technopak Report)

The ‘PNG’ brand derives its legacy from the ‘P N Gadgil’ brand, which has a rich heritage dating back to 1832 and a legacy of over a century (Source: Technopak Report). Leveraging the legacy and heritage of the ‘PNG’ brand, we have created a strong brand recall and presence in Maharashtra offering a wide range of precious metal / jewellery products including gold, silver, platinum and diamond jewellery, across various price points and designs which cover the need of our customers and 168 include collections that are specifically designed for special occasions, such as weddings, engagements, anniversaries and festivals, as well as everyday wear jewellery. Our products are primarily sold under our flagship brand, ‘PNG’, and various sub – brands, through multiple channels, including our 33 retail stores (as on December 31, 2023) and various online marketplaces, including our website.

As on December 31, 2023, we had expanded to 33 stores, which includes 32 stores across 18 cities in Maharashtra and Goa and one store in the U.S. with an aggregate retail area of approximately 95,885 sq. ft. All our stores are operated and managed by us with 23 being owned stores and 10 franchisee stores, on a franchisee owned and company operated (“FOCO”) model. We believe that the Company operated model allows us to exercise control over the quality of our products and ensure that our customers receive consistent experience and service across all our stores.

Of these stores, 19 stores are large format stores (with an area of 2,500 sq. ft. or more), 11 stores are medium format stores (with an area between 1,000 sq. ft. to 2,500 sq. ft.) and 3 stores are small format stores (with an area of less than 1,000 sq. ft.). We plan to further expand our stores network by opening 12 new stores in Maharashtra by Fiscal 2026, the establishment of all of which is proposed to be financed through the Net Proceeds.

Log in to the Mirae Asset Sharekhan app and tap the hamburger menu.
Under the EQUITY dropdown option, tap IPO/OFS/BOND to land on the IPO dashboard.
Click on the Current IPO tab and select the IPO of your choice.
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form.
Read and accept the Terms & Conditions and click on the SUBMIT button. Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well.
Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.

Note: The actual amount will be debited when the shares are allotted to you.

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

Log in to the Mirae Asset Sharekhan website and click the IPO & OTHERS menu option you see on the top-right.
From the list of Active IPOs, select the IPO of your choice
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form. Read and accept the Terms & Conditions and click on the SUBMIT button.
Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well. Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.
Your IPO order will now appear on your Mirae Asset Sharekhan Order Book, from where you can modify or cancel your IPO bid if you so wish.

Note: The actual amount will be debited when the shares are allotted to you.

How does an IPO work?

An IPO offers share market participants like you and me an opportunity to be a shareholder in an erstwhile privately held company that is now going public and being listed on the market. Historically speaking, investors who choose the right IPOs make significant returns on their investments, which increases the attraction of IPOs.

Once you are a shareholder, you are eligible to receive dividends from the company proportional to the shares you own. You can also sell your stocks for profit on the stock exchange.

In exchange for its shares, the company has an opportunity to raise huge capital to be used to further enhance its business and scale up its operations. The company also has other benefits, such as credibility; visibility; better leverage to effect mergers, acquisitions and even to procure loans at lower rates of interest.

In India, the entire IPO process is ably regulated by the Securities & Exchange Board of India (SEBI), right from the IPO filing by the company to the bidding, allotments and refunds (in case you aren't allotted shares due to oversubscription).

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P N Gadgil Jewellers IPO

Company Details

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

How does an IPO work?

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