P N GADGIL JEWELLERS LIMITED IPO TO OPEN ON TUESDAY, SEPTEMBER 10, 2024

Mumbai, 5th September 2024: P N GADGIL JEWELLERS LIMITED (the “Company”) proposes to open its initial public offering (“Offer”) on Tuesday, September 10, 2024. Bid/ Offer Closing Date will be Thursday, September 12, 2024. Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, Monday, September 09, 2024.

The Price Band of the Offer has been fixed from ₹456 per Equity Share to ₹480 per Equity Share. Bids can be made for a minimum of 31 Equity Shares and in multiples of 31 Equity Shares thereafter.

The Company’s initial public offering comprises a fresh issue of equity shares of face value of ₹ 10 each aggregating up to ₹ 8,500 million and an offer for sale of equity shares of face value of ₹ 10 each aggregating up to ₹ 2,500 million. The total offer size comprises of equity shares of face value of ₹ 10 each aggregating up to ₹ 11,000 million. The offer for sale comprises of equity shares of face value of ₹ 10 each aggregating up to ₹ 2,500 million by SVG Business Trust (Promoter Selling Shareholder).

The funds raised through the IPO are proposed to be utilized for: (i) the funding of expenditure towards setting-up of 12 new stores in Maharashtra; (ii) repayment or pre-payment, in full or part, of certain borrowings availed by the Company; and (iii) general corporate purposes.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that the Company, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis by the Company, in consultation with the BRLMs, in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”). In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than the Anchor Investor Portion) (the “Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders (“Non-Institutional Portion”), in accordance with the SEBI ICDR Regulations, of which one-third of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹ 200,000 and up to ₹ 1,000,000 and two-thirds of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹ 1,000,000 and under- subscription in either of these two sub-categories of the Non-Institutional Portion may be allocated to Bidders in the other sub-category of the Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, not less than 35% of the Offer shall be available for allocation to Retail Individual Portion (“Retail Portion”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Bidders (except Anchor Investors) shall mandatorily participate in the Offer only through the Application Supported by Blocked Amount (“ASBA”) process and shall provide details of their respective bank account including UPI ID (defined hereinafter) in case of UPI Bidders (defined hereinafter) in which the Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or pursuant to the UPI Mechanism, as the case may be. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.

The Equity Shares being offered pursuant to the Red Herring Prospectus are proposed to be listed on BSE and NSE. The Company has received in-principle approvals from BSE and NSE for listing of the Equity Shares pursuant to their letters each dated July 3, 2024.

Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and BOB Capital Markets Limited are the book running lead managers (“Book Running Lead Managers” or “BRLMs”) to the Offer.

Disclaimer:

P N GADGIL JEWELLERS LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its Equity Shares and has filed the RHP with Registrar of Companies, Maharashtra at Pune. The RHP is available on the website of the SEBI at www.sebi.gov.in, on the websites of the Stock Exchanges i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, on the website of the Company at www.pngjewellers.com and the websites of the Book Running Lead Managers, i.e. Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and BOB Capital Markets Limited at www.motilaloswalgroup.com, www.nuvama.com and www.bobcaps.in, respectively. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section entitled ‘‘Risk Factors’’ on page 29 of the RHP. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision and instead rely on the RHP.

This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. There will be no public offering of the Equity Securities in the United States.