The initial public offer of jewellery retail chain PN Gadgil Jewellers Ltd got fully subscribed within a few hours of opening for bidding on Tuesday and ended the day with a two-time subscription.
The Rs 1,100 crore initial share sale received bids for 3,38,86,720 shares against 1,68,85,964 shares on offer, translating into 2.01 times subscription, according to the NSE data.
The portion for non-institutional investors got booked 3.26 times and the quota for Retail Individual Investors (RIIs) received 2.61 times subscription. The Qualified Institutional Buyers (QIBs) part got subscribed 1 per cent.
PN Gadgil Jewellers Ltd on Monday said it has raised Rs 330 crore from anchor investors.
The initial public offering (IPO) will conclude on September 12. The price band for the offer has been fixed at Rs 456-480 per share.
The Maharashtra-based company’s IPO is a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tun
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P N Gadgil Jewellers IPO subscribed over 2 times (10-09-2024)
The offer received bids for 3.38 crore shares as against 1.68 crore shares on offer.
INR settles slightly lower as dollar gains ahead of US inflation report (10-09-2024)
The Indian rupee traded in a narrow range on Tuesday and depreciated 2 paise to close at 83.97 (provisional) against the American currency, weighed down by the strengthening of the American currency in the overseas market. The US dollar climbed higher to a near one-week high as all eyes turn to a key US inflation data this week that could offer clues on the magnitude of an expected interest rate cut from the Federal Reserve later this month.. The slight recovery in crude oil prices also weighed on the rupee. However, a surge in the domestic markets cushioned the downside. The benchmark S&P/BSE Sensex rose 361.75 points, or 0.44 percent, to 81,921.29 while the broader NSE Nifty index closed at 25,041.10, up 104.70 points, or 0.42 percent, from its previous close. At the interbank foreign exchange market, the local unit opened at 83.95 against the American currency and finally settled at 83.97 (provisional) against the US dollar, down 2 paise from its previous close.