PN Gadgil Jewellers IPO listing date today. GMP, experts point to strong debut of the stock on BSE, NSE

PN Gadgil Jewellers Shares Listing on Stock Exchange: The Initial Public Offering (IPO) of PN Gadgil Jewellers shares has seen a lot of interest from investors and allotment holders are eagerly awaiting today’s listing. The IPO date of PN Gadgil Jewellers shares is today, September 17.

The subscriptions for the initial public offering of shares of PN Gadgil Jewellers began on September 10 and ended on September 12. The allotment of shares under the initial public offering was fixed on September 13 and trading will begin today.

“We hereby inform the Members of the Stock Exchange that from Tuesday, September 17, 2024, the ordinary shares of PN GADGIL JEWELLERS LIMITED will be listed and admitted to trading on the Stock Exchange in the list of securities of group “B”,” we read in the announcement on the BSE.

Shares of PN Gadgil Jewellers will be part of the Special Pre-Opening Session (SPOS) and will be available for trading from 10:00 AM on Tuesday, September 17.

PN Gadgil Jewellers IPO GMP today, or grey market premium today, indicates strong stock performance. Analysts are also expecting decent performance of PN Gadgil Jewellers IPO.

PN Gadgil Jewellers IPO GMP

PN Gadgil Jewellers IPO GMP today ₹300 per share. This means that the shares of PN Gadgil Jewellers were trading higher by ₹300 per unit on the grey market from the issue price.

PN Gadgil Jewellers Share Price

Considering today’s IPO issue price of PN Gadgil Jewellers GMP, the estimated IPO issue price of PN Gadgil Jewellers is ₹780 per share, which translates to a premium of 62.5% per share.

“Despite the terrific subscription demand in Bajaj Housing Finance IPO, PN Gadgil IPO also managed to receive healthy subscription demand during the similar period with QIB ask raising to 136x and overall to 59x. Given the company’s strong brand loyalty towards ‘PN Gadgil’ and its solid position in Maharashtra, it is well-positioned to capitalize on the demand and assuming it delivers impressive growth going forward, we expect the IPO to debut with a healthy listing gain of over 50% of the issue price,” said Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd.

In case of valuation analysis in the upper price range ₹480 per share, the problem was with market capitalization ₹6,514 crore and based on FY24 earnings and fully diluted post-IPO paid-up capital, the company was asking for a P/E ratio of 42.2x, which seems to be a fair and reasonable valuation given the industry average P/E of ~40-45x and the financial growth trajectory, he added.

Arun Kejriwal, founder, Kejriwal Research and Investment Services, expects the PN Gadgil Jewellers IPO to open at a big premium, but it may disappoint market expectations, as has been seen in some recent IPOs, except for Bajaj Housing Finance IPO.

“Those who have applied for gains on the listing are advised to book profit and exit as the small initial offer is already quoted at a high premium and the probability of further appreciation of the commodity in the current sharply rising gold prices is limited,” Kejriwal said.

According to Anshul Jain, Head of Research at Lakshmishree Investment and Securities, while the IPO price of PN Gadgil Jewellers is fully priced based on fiscal year 2024 earnings, the GMP ratio indicates strong investor interest and listing gains of around 50% are highly likely.

Disclaimer: The views and recommendations presented above are those of the individual analysts or brokerage firms and not Mint. We recommend that investors consult certified experts before making any investment decisions.