Incorporated in 2009, PNGS Gargi Fashion Jewellery Limited is engaged in the retail business of costume and fashion jewellery under the brand name “Gargi by P. N. Gadgil & Sons” launched in 2021 under the artificial jewellery segment.
The company deals in 92.5% certified sterling silver jewellery and brass jewellery, idols and other silverware and related gift items. PNGS Gargi Fashion Jewellery Limited offer a wide range of products from artificial jewellery segment for special occasions such as weddings and festivals to daily-wear jewellery for all ages, genders and across various price points.
The company have an extensive product list which includes earrings, necklaces, pendants, chains, finger rings, bracelets, anklets, nose pins, mangal sutra, pendant sets, bangles in brass or silver for females of age groups as well as male accessories such as rings, cufflinks, button set, that cater to our customers taste, preference, choice and the ever-changing trends in the chain and jewellery designs.
The company has an agreement with P.N. Gadgil & Sons Limited and P. N. Gadgil Art & Culture Foundation includes providing with security guards to all the stores, 24 hours a day where our POS Counters are present.
Competitive Strengths:
- Long history, established and existing brand name of “P.N. Gadgil & Sons”.
- Extensive product list.
- Hybrid Shopping model.
- Experienced Promoters and a well-trained employee base.
- Effective internal control and processes.
Company Financials(Amount in ₹ Lakhs)
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 2.93 | 0 | 0.1 | 1.28 | 0.36 |
| 31-Mar-21 | 2.64 | 0.63 | 0.35 | 1.62 | 0.36 |
| 31-Mar-22 | 836.2 | 593.94 | 110.53 | 109.5 | 531.28 |
| 30-Sep-22 | 1247.77 | 1189.18 | 213.17 | 1072.71 |
Objects of the Issue
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
1. Funding working capital requirements.
2. General corporate purposes.
PNGS Gargi Fashion Jewellery IPO Details
| IPO Date | Dec 8, 2022 to Dec 13, 2022 |
| Listing Date | Dec 21, 2022 |
| Face Value | ₹10 per share |
| Price | ₹30 per share |
| Lot Size | 4000 Shares |
| Issue Size | 2,600,000 shares of ₹10 (aggregating up to ₹7.80 Cr) |
| Fresh Issue | 2,600,000 shares of ₹10 (aggregating up to ₹7.80 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| NII (HNI) Shares Offered | 50% of the net offer |
| Retail Shares Offered | 50% of the net offer |
| Market Maker | SHRENI SHARES PRIVATE LIMITED |
| Company Promoters | Mr. Govind Vishwanath Gadgil and Ms. Renu Govind Gadgil are the compny promoters. |
PNGS Gargi Fashion Jewellery IPO Tentative Timetable
PNGS Gargi Fashion Jewellery IPO opens on Dec 8, 2022, and closes on Dec 13, 2022. The PNGS Gargi Fashion Jewellery IPO bid date is from Dec 8, 2022 10.00 A.M. to Dec 13, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Dec 8, 2022 |
| Closing Date | Dec 13, 2022 |
| Basis of Allotment | Dec 16, 2022 |
| Initiation of Refunds | Dec 19, 2022 |
| Credit of Shares to Demat | Dec 20, 2022 |
| Listing Date | Dec 21, 2022 |
PNGS Gargi Fashion Jewellery IPO Lot Size
The PNGS Gargi Fashion Jewellery IPO lot size is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹120,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹120,000 |
| Retail (Max) | 1 | 4000 | ₹120,000 |
| S-HNI (Min) | 2 | 8,000 | ₹240,000 |
PNGS Gargi Fashion Jewellery IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73% |
PNGS Gargi Fashion Jewellery IPO Review
PNGSG is operating in a highly competitive and fragmented segment. The sustainability of margins reported for the last 18 months raises concern. The issue is attractively priced on the basis of its recent super earnings but maintaining such performance going forward holds the key. Well-informed, cash surplus/risk seekers may consider investing in this IPO.
PNGS Gargi Fashion Jewellery IPO Subscription Status (Bidding Detail)
The PNGS Gargi Fashion Jewellery IPO is subscribed 12.08 times on Dec 9, 2022 4:58:00 PM. The public issue subscribed 19.63 times in the retail category, times in the QIB category, and 4.53 times in the NII category.
| Category | Subscription (times) |
|---|---|
| NII | 4.53 |
| Retail | 19.63 |
| Total | 12.08 |
Company Contact Information
PNGS Gargi Fashion Jewellery Limited
S. No. 37/1 & 37/2,
Near Lokmat New Paper,
Wadgaon, Khurd, Pune – 411 041
Phone: 020 – 2991 1980
Email: info@gargibypng.com
Website: https://www.gargibypng.com/
PNGS Gargi Fashion Jewellery IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com