PN Gadgil IPO allotment status: Check application, latest GMP and listing date

PN Gadgil is scheduled to finalise the basis of allotment of its shares most likely on Friday, September 13. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate over the weekend or by Monday. The jewellery player had received a strong response from the investors during the bidding process.
 

Pune-based PN Gadgil sold its IPO in the price band of Rs 458-480 per share with a lot size of 31 shares, which was open for bidding between September 10 and September 12. The company aimed to raise around Rs 160.01 crore from its primary offering, which included a fresh share sale of Rs 104 crore and offer-for-sale (OFS) of 35.01 lakh shares.
 

The issue was overall subscribed a solid 59.41 times, thanks to strong bidding from qualified institutional bidders (QIBs), whose allocation was booked a solid 136.85 times. The quota for non-institutional investors (NIIs) was subscribed 56.09 times, and the portion of retail investors was subscribed 16.58 times during the bidding process.
 

The grey market premium of PN Gadgil has remained firm amid the volatility in the broader markets. Last heard, the company was commanding a premium (GMP) of Rs 330-335per share in the unofficial market, suggesting a listing pop of about 70 per cent for the investors. The GMP stood at Rs 265-270 a day ago.
 

PN Gadgil Jewellers offers a wide range of precious metal/jewelry products including gold, silver, platinum, and diamond jewelry under its brand name 'PNG' in various price ranges and designs. The Pune-based company, incorporated in 2013, offers its customers the option of having jewelry made to measure.
 

Brokerage firms are mostly positive on the issue suggesting to subscribe it for a long-term citing its strong presence in Western India, experienced management, sound financial track record and expansion plans. However, rich valuations, fluctuations in the gold prices, high working capital needs and geographic concentration are the key risks for the business.
 

Nuvama Wealth Management, Motilal Oswal Investment Advisors and BoB Capital Markets are the book running lead managers of the PN Gadgil Jewellers IPO, while Bigshare Services is the registrar for the issue. Shares of the company shall be listed at the bourses on Tuesday, September 17.
 

Investors, who had bid for the issue of PN Gadgil, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select P N Gadgil Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit submit

 

Investors can also check the allotment status on the online portal of Bigshare Services Limited (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue.
 

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of Bigshare Services Private Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You shall be required to select either one of the three modes: Application number/CAF No, Beneficiary ID, or PAN ID.

4) Enter the details of the mode you selected in Step 2

5) For security purposes, fill the captcha accurately

6) Hit Search to know your allotment status.