PN Gadgil Jewellers IPO Listing: The initial public offering (IPO) of PN Gadgil Jewellers received strong investors’ demand and allottees are now looking up to the share listing today. PN Gadgil Jewellers IPO listing date is today, September 17.
PN Gadgil Jewellers IPO opened for subscription on September 10 and closed on September 12. The IPO allotment was fixed on September 13 and the shares will be listed today.
“Trading Members of the Exchange are hereby informed that effective from Tuesday, September 17, 2024, the equity shares of P N GADGIL JEWELLERS LIMITED shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” a notice on BSE said.
PN Gadgil Jewellers shares will be a part of Special Pre-open Session (SPOS) and the shares will be available for trading from 10 AM on Tuesday, September 17.
PN Gadgil Jewellers IPO GMP today, or grey market premium today, indicates a strong listing of shares. Analysts also expect a decent PN Gadgil Jewellers IPO listing.
PN Gadgil Jewellers IPO GMP
PN Gadgil Jewellers IPO GMP today is ₹300 per share. This indicates that PN Gadgil Jewellers shares were trading higher by ₹300 apiece in the grey market than their issue price.
PN Gadgil Jewellers Share Price
Considering the PN Gadgil Jewellers IPO GMP today and the issue price, the estimated PN Gadgil Jewellers IPO listing price is ₹780 per share, which is at a premium of 62.5% per share.
“Despite magnificent subscription demand seen in Bajaj Housing Finance IPO, in the similar period PN Gadgil IPO also managed to receive healthy subscription demand with QIB ask raise to 136x and overall of 59x. Considering company’s strong brand loyalty “P N Gadgil” and with its solid position in Maharashtra state is well-positioned to capitalize the demand and assuming to deliver impressive growth in future, we expect the IPO to debut with a healthy listing gain of anything above 50% of its issue price,” said Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd.
On valuation parse at the upper price band of ₹480 per share, the issue was asking a market cap of ₹6,514 crore and based on FY 2024 earnings and fully diluted post-IPO paid up capital, the company was asking for PE of 42.2x which seems valuation was inline and reasonable looking at its industry peers average ~40-45x and financial growth trajectory, he added.
Arun Kejriwal, Founder of Kejriwal Research and Investment Services expects PN Gadgil Jewellers IPO to open at a strong premium but it may disappoint the market expectations as seen in the case of some recent stock debuts barring Bajaj Housing Finance IPO.
“Those who have applied for listing gains are advised to book profit and exit as the small sized initial offer is already listing at a strong premium and probability of further rally in the commodity stock in current skyrocketing gold prices are limited,” Kejriwal said.
According to Anshul Jain, Head of Research, Lakshmishree Investment and Securities, while the PN Gadgil Jewellers IPO is fully priced based on FY24 earnings, the GMP indicates strong investor interest, with listing gains of around 50% highly likely.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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