Ahmedabad, Sep 06, P N GADGIL JEWELLERS LIMITED proposes to open its initial public offering on September 10.
According to a statement issued by the company here today the company proposes to open its initial public offering on Tuesday, September 10 . Bid/ Offer Closing Date will be Thursday, September 12, 2024. Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, Monday, September 09.
The Price Band of the Offer has been fixed from ₹456 per Equity Share to ₹480 per Equity Share. Bids can be made for a minimum of 31 Equity Shares and in multiples of 31 Equity Shares thereafter.
The Company’s initial public offering comprises a fresh issue of equity shares of face value of ₹ 10 each aggregating up to ₹ 8,500 million and an offer for sale of equity shares of face value of ₹ 10 each aggregating up to ₹ 2,500 million. The total offer size comprises of equity shares of face value of ₹ 10 each aggregating up to ₹ 11,000 million. The offer for sale comprises of equity shares of face value of ₹ 10 each aggregating up to ₹ 2,500 million by SVG Business Trust (Promoter Selling Shareholder).
The funds raised through the IPO are proposed to be utilized for: (i) the funding of expenditure towards setting-up of 12 new stores in Maharashtra; (ii) repayment or pre-payment, in full or part, of certain borrowings availed by the Company; and (iii) general corporate purposes.