The corporate’s IPO contains a contemporary fairness concern of Rs 850 crore and a proposal on the market of Rs 250 crore. Beneath the OFS, promoter SVG Enterprise Belief will offload half fairness.
The funds raised by the IPO are proposed to be utilised for the funding of expenditure in the direction of setting-up of 12 new shops in Maharashtra, reimbursement of debt and different basic company functions.
PN Gadgil Jewellers is the second largest among the many outstanding organised jewelry gamers in Maharashtra when it comes to the variety of shops as on January 2024.
The corporate can also be the quickest rising jewelry model amongst the important thing organised jewelry gamers in India, primarily based on the revenuegrowth between FY21 and FY23.PN Gadgil achieved an EBITDA progress of 56.5% between FY21 and FY23 in addition to the very best income per sq. ft in FY23, which was the very best among the many key organised jewelry gamers in India.The corporate expanded to 33 shops, which incorporates 32 shops throughout 18 cities in Maharashtra and Goa and one retailer within the US with an combination retail space of roughly 95,885 sq ft, as of December 2023.Moreover, Gadgil has additionally launched their cellular software “PNG Jewellers” in March 2022, which permits them to maintain clients up to date on new designs and collections and familiarise them with the product portfolio.
In FY23, the corporate’s income from operations jumped 76% year-on-year to Rs 4,507 crore and the revenue after tax elevated 35% to Rs 94 crore. For the interval ended September 2023, income from operations stood at Rs 2,628 crore and PAT got here in at Rs 4.37 crore.
Motilal Oswal Funding Advisors, Nuvama Wealth Administration (previously Edelweiss Securities) and BOB Capital Markets are the bookrunning lead managers to the problem.