The corporate’s IPO consists of a difficulty of contemporary shares of Rs 850 crore and a suggestion on the market of Rs 250 crore. Underneath the OFS, promoter SVG Enterprise Belief will promote a part of its stake.
The funds raised from this IPO are meant for use for funds Expenditures for opening 12 new shops in Maharashtra, reimbursement of debt and different normal company functions.
As of January 2024, PN Gadgil Jewelers was the second largest among the many reputed jewelery corporations in Maharashtra by way of variety of shops.
The corporate can also be the quickest rising jewelery model amongst main organized jewelery gamers in India by way of income
Progress between FY21 and FY23.
PN Gadgil obtained Interest, tax, depreciation and amortization advance profit growth It grew 56.5% from FY21 to FY23, with the best income per sq. foot in FY23, the best amongst main organized jewelery gamers in India.
As of December 2023, the corporate’s retailer depend has elevated to 33, together with 32 shops in 18 cities in Maharashtra and Goa and 1 retailer in america, with a complete retail space of roughly 95,885 sq. ft. .
Moreover, Gadgil additionally launched a cellular app “PNG Jewellers” in March 2022, which permits them to maintain clients up to date on new designs and collections and familiarize them with the product portfolio.
In fiscal 2023, the corporate’s working revenue elevated 76% year-on-year to 45.07 billion rupees. profit after tax Elevated 35% to Rs 94 crore. For the interval ended September 2023, working revenue was Rs 2,628 crore and revenue after tax was Rs 437 crore.
Motilal Oswal Funding Consultants, Nuwama Wealth Management (previously Edelweiss Securities) and BOB Capital Markets are the e-book
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