PNG gears up for IPO, moves to SEBI
Jewellers files DRHP with market regulator P N Gadgil Jewellers Limited (PNG), the second largest among the prominent organised jewellery players in Maharashtra, in terms of the number of stores as on January, 2024, which is the largest market for BIS- registered outlets in India has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI). The Company’s initial public offering comprises a fresh issue of equity shares of face value of Rs 10 each aggregating up to Rs 8,500 million and an offer for sale of equity shares of face value of Rs 10 each aggregating up to Rs 2,500 million. The total offer size comprises of equity shares of face value of Rs 10 each aggregating up to Rs 11,000 million. The offer for sale comprises of equity shares of face value of Rs 10 each aggregating up to Rs 2,500 million by SVG Business Trust (Promoter Selling Shareholder). The funds raised through the IPO are proposed to be utilized for the