P N Gadgil Jewellers IPO
P N Gadgil Jewellers Limited (PNGJL) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 17 September 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +12.7% (likely range +12% to +49%), day's high +29.4%, chance of a gain 97%. Actual: +72.9% at the open, +76.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 48,24,560 | 66,02,26,623 | 137x | |
| NII (HNI) total | 36,18,421 | 20,29,40,043 | 56.1x | |
| Big NII (above ₹10 lakh) | 24,12,281 | 14,25,91,227 | 59.1x | |
| Small NII (₹2-10 lakh) | 12,06,140 | 6,03,48,816 | 50.0x | |
| Retail | 84,42,983 | 13,99,86,607 | 16.6x | |
| Total | 1,68,85,964 | 1,00,31,53,273 | 59.4x |
Bids on NSE and BSE together, as published by NSE, as of 12 Sep 2024, 07:00 PM. Shares offered exclude the anchor portion. 12% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to P N Gadgil Jewellers's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| INOX IndiaDec 2023 | 148x | 53.2x | 15.3x | 61.3x | ₹1,459 Cr | +43.9% | +50.0% |
| Bansal Wire IndustriesJul 2024 | 146x | 51.5x | 13.6x | 59.6x | ₹785 Cr | +39.1% | +45.3% |
| Innova CaptabDec 2023 | 117x | 64.9x | 17.1x | 55.3x | ₹577 Cr | +0.9% | +21.1% |
| IKIO LightingJun 2023 | 164x | 63.4x | 13.9x | 66.3x | ₹615 Cr | +37.7% | +50.0% |
| Ecos (India) Mobility & HospitalityAug 2024 | 137x | 71.2x | 19.8x | 64.3x | ₹601 Cr | +16.8% | +36.5% |
| Harsha Engineers InternationalSep 2022 | 178x | 71.3x | 17.6x | 74.7x | ₹794 Cr | +36.4% | +59.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
| Nuwama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and BOB Capital Markets | — | — | — |
Offer documents (NSE)
Frequently asked
What is the P N Gadgil Jewellers IPO price band and lot size? ₹456–480 per share, with a lot of 31 shares, so the smallest retail bid is ₹14,880.
How many times has it been subscribed? 59.4x overall: QIB 137x, NII 56.1x, retail 16.6x.
How did it list? It opened at ₹830, +72.9% against the issue price of ₹480, and closed its first day +65.3%.
