P N Gadgil Jewellers gets Sebi nod for IPO – ET Retail


New Delhi: P N Gadgil Jewellers Limited, a jewellery player in Maharashtra, on Tuesday has received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).

The company’s initial public offering comprises a fresh issue of equity shares of the face value of Rs 10 each aggregating up to Rs 8,500 million and an offer for sale of equity shares of face value of Rs 10 each aggregating up to Rs 2,500 million.

The total offer size comprises of equity shares of face value of Rs 10 each aggregating up to Rs 11,000 million. The offer for sale comprises of equity shares of face value of Rs 10 each aggregating up to Rs 2,500 million by SVG Business Trust (Promoter Selling Shareholder).

The funds raised through the IPO are proposed to be utilized for the funding of expenditure towards setting-up of 12 new stores in Maharashtra, repayment or pre-payment, in full or part, of certain borrowings availed by the company; and general corporate purposes.

Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and BOB Capital Markets Limited are the book running lead managers to the issue.

  • Published On Jul 30, 2024 at 01:58 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRetail App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App




Source link

Leave a Reply

Your email address will not be published. Required fields are marked *