PN Gadgil Jewellers Receives SEBI Approval to Raise Funds via IPO

The offering comprises fresh equity and an offer for sale (OFS), each with a face value of Rs 10 per share. The fresh issue includes shares worth up to Rs 8,500 million, while the OFS consists of shares worth up to Rs 2,500 million, totaling Rs 11,000 million.

SVG Business Trust, the Promoter Selling Shareholder, is offering equity shares with a face value of Rs 10 each, amounting to Rs 2,500 million.

PN Gadgil Jewellers Receives SEBI Approval to Raise Funds via IPO

As of January 2024, PN Gadgil Jewellers ranked as the second-largest organized jewelry company in Maharashtra in terms of the number of stores. The capital raised through the IPO will be used for repaying or prepaying some of the company’s borrowings, establishing 12 new stores in Maharashtra, and for general corporate purposes.

The book-running lead managers for the issue are BOB Capital Markets Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited), and Motilal Oswal Investment Advisors Limited.