India's PN Gadgil Jewellers surges 77% in debut trade

P N Gadgil Jewellers

17/09/2024 06:56

** PN Gadgil Jewellers  PNGD.NS  soars as much as 76.7% to
848 rupees on its first day of trading
    ** Stock opened at 830 rupees, 73% higher than its IPO price
of 480 rupees
    ** PNGD's 11 bln-rupee ($131 mln) IPO was oversubscribed
59.4 times and included offer for share sales worth 2.5 bln
rupees and fresh shares of 8.5 bln
    ** IPO proceeds will be used to fund new stores, repay past
borrowings and general corporate purposes
    ** PNGD last up 68.2%

($1 = 83.8350 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))