P N Gadgil Jewellers Ltd. has raised Rs 700 crore through a qualified institutional placement (QIP), pricing the issue at Rs 609 per equity share, a 4.95% discount to the SEBI-prescribed floor price of Rs 640.69.
A QIP is a mechanism that allows listed companies to raise capital quickly by issuing shares to qualified institutional buyers, such as mutual funds, insurance companies and foreign portfolio investors, without undergoing a lengthy public offering process.
The jewellery retailer received bids for 11.49 million equity shares during the issue, which opened on July 30 and closed on Aug. 3, according to an exchange filing.
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The executive committee approved the closure of the issue, finalised the allotment to eligible institutional investors and adopted the placement document for the fundraise.
The issue price includes a premium of Rs 599 over the face value of Rs 10 per share and was determined in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations.
P N Gadgil Jewellers Q1 Show
P N Gadgil Jewellers reported a strong June-quarter (Q1FY27) performance, with consolidated net profit rising 51.9% year-on-year (YoY) to Rs 105 crore, while revenue increased 40.7% annually to Rs 2,413 crore. On the operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 65.8% to Rs 182 crore, and the EBITDA margin expanded to 7.6% from 6.4% a year ago.
P N Gadgil Jewellers Share Price
P N Gadgil Jewellers' shares ended 1.85% lower at Rs 657.50 on the BSE on Monday, underperforming the benchmark Sensex, which rose 0.79% during the session.
The stock has touched a 52-week high of Rs 735 and a 52-week low of Rs 503.25, and currently trades about 10.5% below its one-year high while remaining 30.6% above its 52-week low.
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