PN Gadgil Jewellers Makes Spectacular Market Debut, Surges Over 65%

Jewellery retail chain PN Gadgil Jewellers Ltd's shares surged over 65% on their market debut, closing at Rs 792.80 on the BSE. The company's IPO received 59.41 times subscription, with funds earmarked for new stores, debt repayment, and corporate purposes.

In a remarkable market debut, shares of jewellery retail chain PN Gadgil Jewellers Ltd soared over 65% against its issue price of Rs 480 and closed at Rs 792.80 on the BSE on Tuesday.

The stock made a dazzling entry at Rs 834 on the BSE, experiencing a surge of 73.75%. It peaked at Rs 843.80 before settling at Rs 792.80, marking a 65.16% jump. On the NSE, it opened at Rs 830 and closed at Rs 787.90, up 64.14%.

The company, valued at Rs 10,758.96 crore, saw trading volumes hit 23.72 lakh shares on the BSE and 246.28 lakh shares on the NSE. PN Gadgil Jewellers' IPO was subscribed 59.41 times, generating Rs 1,100 crore, with funds allocated for new stores, debt repayment, and other corporate needs.

(With inputs from agencies.)