PN Gadgil Jewellers IPO Subscribed 59.41 Times on Final Day

QIBs Steal the Show; Check Key Details

Key Highlights

* PN Gadgil Jewellers IPO received overwhelming response from investors. * The issue was subscribed 59.41 times on the final day, with Qualified Institutional Buyers (QIBs) accounting for the majority of the subscription. * Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) also participated in the IPO but to a lesser extent.

Detailed Analysis

PN Gadgil Jewellers IPO, a much-anticipated offering in the Indian stock market, saw a massive subscription of 59.41 times on its final day. The issue, which opened for subscription on September 6 and closed on September 8, received bids for 23,49,81,540 shares against an offer size of 39,52,230 shares. QIBs were the main drivers of the subscription, putting in bids for 41,92,72,760 shares, or 106.35 times their allocated quota. NIIs also showed strong interest, subscribing to 12,49,69,500 shares, or 20.28 times their quota. Retail Individual Investors (RIIs) subscribed to 9,07,39,280 shares, or 18.38 times their allocated quota. PN Gadgil Jewellers is a leading jewellery retailer in India with a strong presence in Maharashtra. The company has a wide range of jewellery products, including gold, diamond, and silver jewellery, as well as watches and gift items. The company's IPO was expected to raise Rs. 1,044 crore, which will be used to fund its expansion plans and reduce debt. The strong subscription to the PN Gadgil Jewellers IPO is a reflection of the company's strong brand recognition and the positive outlook for the jewellery industry in India. The company's focus on expanding its retail network and introducing new product categories is expected to drive its growth in the future.