The allotment of shares for the PN Gadgil Jewellers (PNG) IPO has been finalized, and investors can now verify the status of their applications online through the stock exchanges like BSE, NSE, or via the registrar’s website, Bigshare Services. PNG Jewellers’ Rs 1,100 crore IPO saw significant demand, being oversubscribed by 59.41 times.

The current grey market premium (GMP) suggests a notable percentage increase on the listing day. There are three primary methods to check the IPO allotment status: through BSE, NSE, or Bigshare Services Private Ltd.

To check your PNG Jewellers IPO allotment status via Bigshare Services. Select “PNG Jewellers” under the IPO option, then enter either your ‘Application Number,’ ‘Beneficiary ID,’ or ‘PAN.’ After entering the captcha code for verification, click on the ‘Search’ button to view your allotment status.

For checking your status on the BSE website. Once there, choose ‘Equity’ under ‘Issue Type,’ select “PNG Jewellers IPO” from the ‘Issue Name’ dropdown, and enter your PAN details. After completing the captcha verification, click ‘Search’ to view your application status.

The Rs 1,100 crore PNG Jewellers IPO was open from September 10 to September 12, 2024. It saw strong demand, with an overall oversubscription of 59.41x. The Qualified Institutional Buyers (QIBs) portion was heavily oversubscribed by 136.85x, while Non-Institutional Investors (NII) and Retail Individual Investors (RII) portions were oversubscribed by 56.09x and 16.58x, respectively.

According to Investo Grain, the latest grey market premium (GMP) for the P N Gadgil Jewellers IPO is ₹345 as of September 13, 2024, at 11:27 PM. Based on a price band of ₹480, the estimated listing price is ₹825, indicating a potential gain of 71.88% per share. The IPO is expected to be listed on both the BSE and NSE on September 17, 2024.

According to Swastika, while the overall outlook for PNG Jewellers is positive, investors should be mindful of potential fluctuations in listing gains due to a competitive IPO market. The brokerage advises holding the shares for the long term.

On the other hand, brokerage firm IndSec is optimistic about the company’s growth potential, citing its strong performance, new store additions, high-margin make-to-order services, and improved consumer sentiment following the government’s reduction of customs duty on gold imports.

P N Gadgil Jewellers is a prominent organized gold jewelry retailer in Maharashtra. Between FY22 and FY24, the company’s revenue, EBITDA, and APAT grew at a compound annual growth rate (CAGR) of 54.6%, 55.5%, and 63.7%, respectively. In FY24, the company reported the highest revenue per store at Rs 1,567, significantly higher than the industry average of Rs 220.

Part of the IPO proceeds will be used to open 12 new stores and expand its retail presence in Maharashtra, while Rs 3,000 million will go toward debt repayment. This will allow the company to secure non-fund-based debt and avail Gold Metal Loans (GML) at lower rates, according to the brokerage.