PN Gadgil Jewellers Ltd. has fixed its price band for the upcoming ₹1,100 crore IPO, which will open for subscription on Tuesday, September 10, 2024.

The company plans to sell the shares between ₹456 to ₹480 per share. At the upper end of the price band, PN Gadgil will have a post-listing market capitalisation of ₹6,514 crore.

PN Gadgil’s IPO will comprise of a fresh issue of equity shares worth ₹850 crore, along with an Offer For Sale (OFS) component worth ₹250 crore.

Retail investors can bid for a minimum lot size of 31 shares and in multiples thereof.

The IPO will close for subscription on Thursday, September 12, 2024.

50% of the IPO or shares worth ₹550 crore have been reserved for Qualified Institutional Bidders (QIB), while 15% of the issue or shares worth ₹165 crore are reserved for the Non-Institutional Investors.

Shares worth ₹385 crore or 35% of the IPO size is reserved for retail investors.

Motilal Oswal Investment Advisors, Nuvama Wealth Management and BOB Capital Markets are the Book Running Lead Managers for the IPO.

Shares of PN Gadgil Jewellers are likely to list on the BSE and NSE on September 18, 2024.