P N Gadgil Jewellers has successfully allotted 1,14,94,252 equity shares to eligible qualified institutional buyers at an issue price of ₹690 per equity share of face value ₹10 each, aggregating to ₹700 crore pursuant to the qualified institutional placement (QIP). The allotment was completed following the successful closure of the QIP, which was approved by the Executive Committee on August 03, 2026. The placement, which opened on July 30, 2026, was priced at a discount of ₹31.69 per share, representing a 4.95% discount to the floor price of ₹640.69 established earlier in the month. The issue price includes a premium of ₹599 over the face value of ₹10 per share and was determined in accordance with SEBI regulations.
Pursuant to the allotment, the paid-up equity share capital has increased to ₹147.20 crore, consisting of 14,72,02,585 equity shares. This represents a significant expansion of the company's share base, providing additional equity capital for future growth initiatives. The successful completion of the QIP enables the company to proceed with the allotment of shares and utilization of funds as per the stated objects of the issue, strengthening the company's financial position for its expansion plans.
P N Gadgil Jewellers reported robust June-quarter (Q1FY27) performance with consolidated net profit rising 51.9% year-on-year to ₹105 crore, while revenue increased 40.7% annually to ₹2,413 crore. According to company reports, on the operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 65.8% to ₹182 crore, and the EBITDA margin expanded to 7.6% from 6.4% a year ago.
The QIP was conducted in compliance with Regulation 176(1) of Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, which permits issuers to offer a discount of up to 5% on the calculated floor price. The placement was conducted in compliance with Section 42 of the Companies Act, 2013, read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014. The Executive Committee also finalized the allocation note to be sent to participating QIBs and adopted the final placement document dated August 03, 2026, which is now available on the company's website. The Board of Directors had initially sanctioned the QIP on July 03, 2025, with shareholder approval granted via a special resolution at the Annual General Meeting on August 18, 2025.
P N Gadgil Jewellers' shares ended 1.85% lower at ₹657.50 on the BSE on Monday, underperforming the benchmark Sensex, which rose 0.79% during the session. As reported by market data, the stock has touched a 52-week high of ₹735 and a 52-week low of ₹503.25, currently trading about 10.5% below its one-year high while remaining 30.6% above its 52-week low. The successful closure of the QIP enables the company to proceed with the allotment of shares and utilization of funds as per the stated objects of the issue.
