Review of P N Gadgil Jewellers Limited IPO: Lot Size, Check Issue Date, Price

P N Gadgil Jewellers IPO Price: ₹456 to ₹480 per share
IPO Dates: 10 September 2024 – 12 September 2024

Leveraging a Legacy of Trust

The ‘PNG’ brand carries the legacy of the historic ‘P N Gadgil’ brand, which dates back to 1832. This heritage has enabled P N Gadgil Jewellers to build a strong brand presence and loyalty in Maharashtra, India’s largest market for BIS-registered outlets. The company leverages this legacy to enhance its brand recall and maintain customer trust, focusing on quality and consistency across all its offerings.

Product Portfolio

P N Gadgil Jewellers boasts a rich assortment of jewellery across multiple categories. As of March 2024, the company offers over 10,000 SKUs in gold, 1,200 SKUs in silver, 2,700 SKUs in platinum, and more than 24,000 SKUs in diamond designs. The company caters to diverse customer needs with collections specifically designed for special occasions such as weddings, engagements, anniversaries, festivals, and everyday wear. The brand’s product lineup includes eight sub-brands in gold, two in diamonds, and two in platinum, with collections like Saptam, Swarajya, Rings of Love, and more, each tailored to different tastes and occasions. P N Gadgil Jewellers also provides a unique ‘make to order’ service, allowing customers to create bespoke jewellery pieces.

Retail Footprint

P N Gadgil Jewellers operates 39 stores, including 38 locations across 21 cities in Maharashtra and Goa, and one store in the U.S. By the end of Fiscal 2026, the company plans to increase its presence further by opening 12 additional stores, aiming for a total of 51 stores in Western India. The company utilizes a mix of company-owned and franchisee-operated models, managing 28 stores directly and 11 stores under the FOCO (franchisee-owned and company-operated) model. This approach ensures a consistent customer experience across all locations.

Rapid Growth and Market Position

Ranked as the second largest organized jewellery retailer in Maharashtra and one of the fastest-growing jewellery brands in India, P N Gadgil Jewellers has achieved impressive growth metrics. From Fiscal 2022 to Fiscal 2024, the company’s revenue from operations grew at a compound annual growth rate (CAGR) of 54.63%, and its EBITDA increased by 39.78%. The company also boasts the highest revenue per square foot among key organized jewellery players in India. This rapid growth is attributed to strategic expansions, strong brand recall, and a diversified product offering that appeals to a broad customer base.

Digital Presence and Innovation

In addition to its brick-and-mortar stores, P N Gadgil Jewellers has developed a robust digital presence, including a dedicated website and a mobile application launched in March 2022. The company’s digital platforms complement the in-store experience by keeping customers updated on new designs and collections, thereby enhancing brand engagement and customer loyalty.

Competitive Strengths

P N Gadgil Jewellers’ success is underpinned by several key strengths: its well-established and trusted legacy brand in Maharashtra, a diverse and extensive product portfolio, and a highly experienced management team led by Promoter Saurabh Vidyadhar Gadgil. The company’s strong financial performance, with significant revenue and EBITDA growth, positions it as a formidable player in the organized jewellery market.

With its continued focus on expanding its retail network, enhancing its product offerings, and leveraging its legacy, P N Gadgil Jewellers is well-positioned for sustained growth and success in the competitive jewellery market.

Bidding Starts In

P N Gadgil Jewellers IPO Specifics:

P N Gadgil Jewellers IPO Timetable (Important Dates)

P N Gadgil Jewellers IPO Lot Size

Bidders have the opportunity to bid for a minimum of 31 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.

P N Gadgil Jewellers IPO Reservation

P N Gadgil Jewellers Limited IPO Financial Information

Key Performance Indicator – P N Gadgil Jewellers IPO

Objects of the Issue:

The Company plans to use the Net Proceeds for the following purposes:

1. Supporting general corporate purposes.
2. Funding the establishment of 12 new stores in Maharashtra.
3. Repaying or partially pre-paying certain existing borrowings.

Prospectus Links:

Prospectus: Official documents that provide detailed information about the IPO and the company.