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PN Gadgil Shares List with 73% Premium on Listing Day

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Synopsis:

PN Gadgil Jewellers' share price debuted at ₹830 on NSE, a 73% premium over the issue price. The IPO was oversubscribed by 59.41 times, reflecting strong investor interest.

PN Gadgil Jewellers made a remarkable debut on the stock market today, with the PN Gadgil share price opening at ₹830 on the NSE, marking a 72.92% premium over the issue price of ₹480. On the BSE, the PN Gadgil share price opened slightly higher at ₹834, reflecting a 73.75% premium. The market premium was initially predicted to be in the range of 50% to 63%, however, it surpassed these projections.

The IPO, which was available for bidding between September 10 and 12, saw overwhelming investor interest, leading to an oversubscription of 59.41 times. The Qualified Institutional Buyers (QIBs) category was oversubscribed by 136.85 times, while non-institutional investors and retail investors saw 56.09 and 16.58 times subscriptions, respectively.

This significant rise in the PN Gadgil share price reflects strong market demand, as the company raised ₹330 crore from the IPO to fund its growth plans in the jewellery sector, including expanding its retail footprint.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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