Ahead of its listing, the company’s shares traded with a 63% premium over the issue price. The IPO, featuring a fresh equity sale of 1.77 crore shares and OFS of 52.08 lakh shares, was met with robust investor interest, closing with an overall subscription of over 50 times. Prior to the opening, PN Gadgil Jewellers secured Rs 330 crore from anchor investors by allotting 68.74 lakh shares to 25 investors. The IPO proceeds are intended for setting up 12 new stores in Maharashtra, repaying debt, and other general corporate purposes.
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