P N Gadgil Jewellers, one of Maharashtra's leading organised jewellery players, is set to launch its Initial Public Offering (IPO) from September 10 to 12, 2024. The Pune-based company aims to raise Rs.1,100 crore, with the offering consisting of a fresh issue worth Rs.850 crore and an offer-for-sale of Rs.250 crore. The price band for the IPO is set between Rs.456 and Rs.480 per share, with a minimum lot size of 31 shares, requiring an initial investment of Rs.14,880.

The company, which traces its roots back to 1832, has built a reputation over six generations for its fine jewellery, offering a wide range of gold, silver, diamond, and gemstone products. P N Gadgil Jewellers is now the second-largest organised jeweller in Maharashtra by store count, and the proceeds from this IPO will be used to expand further. According to a note from Motilal Oswal Investment Advisors, the funds raised will be allocated for setting up 12 new stores across Maharashtra, repaying existing debt, and for general corporate purposes.

Investors can subscribe to the IPO until September 12, with the allotment expected to be finalized on September 13. The company’s shares are scheduled to list on the BSE and NSE on September 17, 2024. The anchor book for the IPO will open on September 6, offering an early opportunity for institutional investors to participate.

The IPO is being managed by Motilal Oswal Investment Advisors, Nuvama Wealth Management, and BOB Capital Markets, who are serving as the book-running lead managers. As P N Gadgil Jewellers continues to grow, this IPO marks a significant step in its journey, further cementing its presence in the Indian jewellery market.