The initial public offering of PN Gadgil Jewellers Ltd. received a strong response from the investors. The IPO, which concluded on Thursday, was subscribed 59.41 times, led by demand from qualified institutional buyers. The Rs 1,100-crore IPO received bids for 1,00,31,53,273 shares against 1,68,85,964 shares on offer, according to the NSE data. The quota for Qualified Institutional Buyers (QIBs)
The Rs 1,100-crore IPO received bids for 1,00,31,53,273 shares against 1,68,85,964 shares on offer, according to the NSE data.
The quota for Qualified Institutional Buyers (QIBs) garnered 136.85 times subscription while the category for non-institutional investors got subscribed 56.09 times. The portion for Retail Individual Investors (RIIs) fetched 16.58 times subscription.
The PN Gadgil Jewellers IPO was subscribed 6.90 times on day two of the subscription on Wednesday. The issue got fully subscribed within a few hours of opening for bidding on Tuesday and ended the day with a two-time subscription.
The IPO was a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tune of Rs 250 crore by promoter SVG Business Trust.
The allotment for PN Gadgil Jewellers IPO will be finalised on Friday, September 13. The company's shares are expected to list on the BSE and NSE, with September 17 being the tentative listing date.
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