PN Gadgil Jewellers IPO: Investors who have been allotted the initial public offering (IPO) of PN Gadgil Jewellers Limited are now waiting for the listing. This IPO is seeing a great premium in the grey market before the listing. Let us know how much profit the IPO investors will make on the day of listing.
How was the response
PN Gadgil Jewelers Limited’s IPO has received a strong response. On Thursday, the last day of bidding, it got 59.41 times subscription. According to NSE data, bids were received for 1,00,31,19,142 shares against the sale offer of 1,68,85,964 shares in the initial share sale of Rs 1100 crore. The quota of qualified institutional buyers (QIBs) got 136.85 times subscription while the category of non-institutional investors got 56.08 times subscription. The share of retail individual investors (RIIs) received 16.58 times subscription. Let us tell you that the IPO was fully subscribed within a few hours of opening of bid on Tuesday and the day ended with double the subscription. Earlier, PN Gadgil Jewelers Limited had raised Rs 330 crore from anchor investors.
Grey Market Premium
The issue price for the IPO is Rs 456-480 per share. At the same time, the gray market premium is Rs 340. In this way, the IPO can be listed at Rs 820. This shows a premium of about 71%. However, the gray market premium is not a guarantee of any listing. It is just an indication.
