<ul><li><keyword id="22609912" type="General" weightage="20" keywordseo="PN-Gadgil-Jewellers" source="keywords" meta.keywordsubtype="org" meta.entityname="PN Gadgil Jewellers" meta.hostid="261" meta.entityid="PN Gadgil Jewellers">PN Gadgil Jewellers</keyword> is expected to announce its share allotment status on Friday, September 13.</li><li>The shares of PN Gadgil Jewellers were subscribed 59.41 times.</li><li>The shares are expected to be listed on the stock exchanges on September 17.</li></ul>Maharashtra-based PN Gadgil Jewellers, which offers jewellery products including gold, silver, platinum, and diamond jewellery is expected to announce the allotment status of its initial public offering (IPO) on Friday, September 13. The <keyword id="21101808" type="General" weightage="20" keywordseo="PN-Gadgil-Jewellers-IPO" source="Orion">PN Gadgil Jewellers IPO</keyword> opened on September 10 and closed on September 12. The price band for the IPO was ₹456 to ₹480 per share. <h2>PN Gadgil Jewellers IPO subscription</h2>On the last day, the PN Gadgil Jewellers IPO was subscribed 59.41 times, receiving bids for 100.32 crore equity shares against 1.69 crore shares on offer. While the qualified institutional buyer portion was subscribed 136.85 times, the non-institutional investors portion was subscribed 56.09 times. The retail portion also witnessed excellent participation and was subscribed 16.58 times. <h2>PN Gadgil Jewellers grey market premium</h2>The shares of PN Gadgil Jewellers are currently commanding a grey market premium (GMP) of ₹255 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <h2>How to check the PN Gadgil Jewellers’ allotment status</h2>You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="23147421" type="General" weightage="100" keywordseo="PN-Gadgil-Jewellers-IPO-allotment" source="Orion">PN Gadgil Jewellers IPO allotment</keyword> status, visit the registrar’s website<a href="https://ipo.bigshareonline.com/IPO_Status.html"> here</a>. </li><li>Click on ‘Select Company’ and then select ‘PN Gadgil Jewellers’. </li><li>Now, select PAN, application number, or beneficiary ID and provide the details. </li><li>Now, enter the captcha. </li><li>Click on “Search”. </li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the PN Gadgil Jewellers <keyword id="20660173" type="General" weightage="20" keywordseo="IPO-allotment" source="keywords">IPO allotment</keyword> status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘PN Gadgil Jewellers’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <h2>PN Gadgil Jewellers IPO listing date</h2>The shares of PN Gadgil Jewellers will be listed on the stock exchanges on September 17. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/top-10-selling-cars-in-india-in-august-2024/slidelist/113248627.cms">Top 10 selling cars in India in August 2024</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a> <a href="https://www.businessinsider.in/business/auto/news/ather-energy-looks-to-raise-3100-crore-files-ipo-papers-with-sebi/articleshow/113214971.cms">Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI</a>

PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more

<keyword id="23052522" type="General" weightage="20" keywordseo="jewellery-retail-chain" source="keywords">Jewellery retail chain</keyword> P N Gadgil Jewellers Ltd on Thursday fixed a <keyword id="19911460" type="General" weightage="20" keywordseo="price-band" source="keywords">price band</keyword> of Rs 456-480 per share for its Rs 1,100-crore initial <keyword id="20104809" type="General" weightage="20" keywordseo="share-sale" source="keywords">share sale</keyword> and proceeds will be used for <keyword id="20389247" type="General" weightage="20" keywordseo="expansion-plans" source="keywords">expansion plans</keyword> and pare debt. The Initial Public Offering (<keyword id="19898327" type="General" weightage="100" keywordseo="IPO" source="keywords">IPO</keyword>) will open for public subscription on September 10 and conclude on September 12 and the bidding for anchor investors will open for a day on September 9, the company announced. The Maharashtra-based company's IPO is a combination of a fresh issue of <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tune of Rs 250 crore by promoter SVG Business Trust. At present, SVG Business Trust holds a 99.9 per cent stake in P N Gadgil Jewellers. Brokerage houses have pegged the company's <keyword id="20000950" type="General" weightage="20" keywordseo="market-capitalisation" source="keywords">market capitalisation</keyword> at over Rs 6,500 crore post-issue. Of the fresh issue proceeds, around Rs 393 crore will be utilised for the funding of expenditure towards setting up 12 new stores in Maharashtra, Rs 300 crore for payment of debt, besides a portion will be used for general corporate purposes. As of March 2024, the company had a total borrowings of around Rs 397 crore, as per the Red Herring Prospectus (RHP). P N Gadgil Jewellers Ltd offers a wide range of precious metal/ jewellery products, including gold, silver, platinum and diamond jewellery, across various price points and designs. The company's products are primarily sold under its flagship brand, 'PNG', and various sub-brands, through multiple channels, including 39 retail stores (as on July 31, 2024) and various online marketplaces, including websites. Motilal Oswal Investment Advisors Ltd, Nuvama Wealth Management Ltd and BOB Capital Markets Ltd are book-running lead managers to the issue.

P N Gadgil Jewellers' Rs 1,100-cr IPO to open on Sep 10

<ul><li>Jewellery retail chain <keyword id="580493" type="General" weightage="20" keywordseo="joyalukkas-india" source="Orion">Joyalukkas India</keyword> has filed draft papers with SEBI to raise around ₹2,300 crore via IPO.</li><li>60% of the IPO proceeds will be used towards paying debt, then some for opening new stores.</li><li>As of February 28, 2022 the company has total outstanding borrowings of ₹1,524 crore.</li></ul>Kerala-based jewellery retail chain Joyalukkas India is in the process of going public. The company intends to raise around ₹2,300 crore with fresh issue of shares. About 60% of the initial public offering (IPO) proceeds will be used towards paying debt, then some for opening new stores. As of February 28, 2022 the company has total outstanding borrowings of ₹1,524 crore. It plans to add 8 new showrooms over the next 2 years across Telangana, Maharashtra, Odisha and Karnataka. Joyalukkas India sells jewellery made of gold, studded and other jewellery products that include diamond, platinum, silver and other precious stones. The company has a strong foot in the southern states with 92% of its revenue coming from the southern part of India. The company operates 85 showrooms under the “Joyalukkas” brand located across 68 cities in India and mostly in South India. “We are currently present in most parts of the southern region and intend to deepen our penetration in such regions, where there could be potential for further expansion due to the demand of jewellery in the region,” said the company in DRHP. Moreover, southern Indian states make up 40% of the Indian gold jewellery market while the eastern states account for 15%, according to the firm’s DRHP. It also mentions that gold worn by a bride in Kerala is more than double the weight of gold worn by a bride in Gujarat because of varied culture. It ranks sixth in terms of number of showrooms compared to its peers. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jewellery brands </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exclusive brand outlets </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tanishq </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">353 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PC Jewellers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">164 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Malabar Gold </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">135 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Senco Gold </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">124 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kalyan Jewellers India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">117 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Joyalukkas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">85 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GRT Jewellers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Thangamayil Jewellery </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tribhovandas Bhimji Zaveri </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">P.N.Gadgil Jewellers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">29 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bhima Jewellers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14 </td></tr></tbody></table>Its main competitors include GRT Jewellers, Kalyan Jewellers India, Malabar Gold, PC Jeweller, Thangamayil Jewellery, Titan Company (Tanishq), and Tribhovandas Bhimji Zaveri. Interestingly, the company’s revenue per store and even sales per square feet is commendable compared to many offline players out there. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue per store </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue per square feet </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Joyalukkas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹95 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.37 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kalyan Jewellers India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹63 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹96,325 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">P.N. Gadgil Jewellers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹74 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.86 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PC Jeweller </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹16 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹36,165 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Thangamayil Jewellery </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹57 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3.15 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan Company (Tanishq) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹49 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.16 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tribhovandas Bhimji Zaveri </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹42 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.39 lakh </td></tr></tbody></table>(Source: Draft red herring prospectus) However, the company’s profits have been dipping in the last three years financial years due to high competition. “Our company faces competition from existing jewellery retailers, both organised and unorganised, and potential entrants to the jewellery retail industry that may adversely affect our competitive position and our profitability,” the company said in its draft red herring prospectus (DRHP). <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Joyalukkas India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,097 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹47.17 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,032 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹40.70 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,100 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹116 crore </td></tr></tbody></table>(Source: Draft red herring prospectus) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/classplus-is-now-valued-at-600-million/articleshow/90514099.cms">Classplus is now among the highest valued edtech startups outside of the unicorn club</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/link-pan-with-aadhaar-before-march-31-to-avoid-any-penalty-or-other-consequences/articleshow/90510078.cms">Three days left to link PAN with Aadhaar to avoid any penalty or other consequences</a>

Joyalukkas’s strong foothold in south India makes it a better performer than most of the country’s top players

Domestic passenger vehicle wholesales declined by about 2 per cent year-on-year in August as companies curtailed dispatches to reduce inventory at dealers amid a drop in demand. According to data issued by the industry body Society of Indian Automobile Manufacturers (<keyword id="20185536" type="General" weightage="20" keywordseo="SIAM" source="keywords">SIAM</keyword>), the total passenger vehicle dispatches in the domestic market stood at 3,52,921 units last month compared to 3,59,228 vehicles in August 2023, a dip of 1.8 per cent. Two-wheeler wholesales rose 9 per cent to 17,11,662 units last month against 15,66,594 units in the year-ago period, it added. Scooter dispatches last month climbed to 6,06,250 units from 5,49,290 units in August 2023, a growth of 10 per cent. Similarly, motorcycle dispatches from companies to dealers increased by 8 per cent to 10,60,866 units last month from 9,80,809 units in August 2023. The total three-wheeler sales grew 8 per cent to 69,962 units last month against 64,944 units a year ago. "Looking ahead, as the country enters the festive season, demand for vehicles is expected to grow, which will also be duly augmented by the recent announcements of PM E-DRIVE and PM-eBus Sewa Schemes of Government of India," SIAM Director General Rajesh Menon said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Passenger vehicle wholesales dip 2% in August as OEMs cut dispatches

<ul><li><keyword id="19971142" type="General" weightage="20" keywordseo="Ford" source="keywords" meta.keywordsubtype="org" meta.entityname="Ford" meta.hostid="261" meta.entityid="Ford">Ford</keyword> is all set to make a return to India, with eyes on the international market.</li><li>The company plans on repurposing its Chennai plant to manufacture vehicles for export.</li><li>The company has submitted a letter of intent to the Tamil Nadu government.</li></ul>After several reports about its return to India, popular American automaker Ford has expressed its intent to restart operations at its plant in Chennai, Tamil Nadu. Ford is well known for its popular SUVs such as the Endeavour and EcoSport. Ford had exited the Indian market in 2021 due to declining sales. The company, which had two plants in the country had sold one to Indian automaker <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> and planned a shutdown of the second plant. However, it could not wind down its vehicle and engine manufacturing in Chennai by the targeted timeline of the second quarter of 2022. The company on Friday submitted a letter of intent to the Tamil Nadu government, confirming its intention to utilise the Chennai plant for manufacturing for exports. "This step aims to underscore our ongoing commitment to India as we intend to leverage the manufacturing expertise available in Tamil Nadu to serve new global markets," Ford International Markets Group President Kay Hart said. “We are grateful for the ongoing support from the Tamil Nadu Government as we explored different options for the Chennai plant,” Hart added. The company said the strategic move will see the facility repurposed to focus on manufacturing for export to global markets, as part of the company's Ford+ growth plan. “Ford currently employs 12,000 individuals in Global Business Operations in Tamil Nadu, a number expected to grow by 2,500 to 3,000 jobs within the next three years”, it added. "Combined with the engine manufacturing operations in Sanand, India represents Ford's second-largest salaried workforce worldwide," the company said. The company said that further information about the type of manufacturing and other details will be disclosed later. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Ford is returning to India, expresses intent to restart its Tamil Nadu plant for exports

As many as seven <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-group" source="keywords">Adani group</keyword> stocks ended lower on Friday as the Swiss authorities froze USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of a money laundering probe, suspecting he may be a frontman from the group -- a charge the conglomerate vehemently denied. Shares of <keyword id="19934911" type="General" weightage="20" keywordseo="Adani-Power" source="keywords">Adani Power</keyword> dropped 2.73 per cent, Adani Energy Solutions declined 2.42 per cent, Adani Ports slipped 1.37 per cent, Adani Green Energy went lower by 1.17 per cent, Adani Enterprises dipped 0.76 per cent, Adani Total Gas (0.55 per cent) and Adani Wilmar (0.37 per cent) on the BSE. However, three group firms managed to settle in the green. The stock of <keyword id="19963163" type="General" weightage="20" keywordseo="ACC" source="keywords" meta.keywordsubtype="org" meta.entityname="ACC" meta.hostid="261" meta.entityid="ACC">ACC</keyword> jumped 1.94 per cent, NDTV climbed 1.01 per cent and <keyword id="20057393" type="General" weightage="20" keywordseo="Ambuja-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="Ambuja Cements" meta.hostid="261" meta.entityid="Ambuja Cements">Ambuja Cements</keyword> (0.01 per cent). During the day, shares of Adani Power tumbled 3.20 per cent, Adani Energy dived 2.75 per cent, Adani Green declined 1.53 per cent, Adani Ports went down by 1.51 per cent, Adani Enterprises fell 1.18 per cent, Adani Wilmar (1.07 per cent), Adani Total (0.89 per cent), NDTV (0.57 per cent), Ambuja Cements (0.54 per cent) and ACC (0.46 per cent). Swiss authorities have frozen USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of money laundering probe, suspecting he may be a frontman from the Adani group -- a charge the conglomerate vehemently denied saying it was neither involved in any Swiss court proceedings nor any of its accounts are subject to sequestration. US-based short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="261" meta.entityid="Hindenburg Research">Hindenburg Research</keyword>, which had last year targeted the Adani group in a damning report that led to wiping away of USD 150 billion in market value of listed firms of the conglomerate in the following weeks, in a post on X cited "newly released Swiss criminal records reported by Swiss media outlet" to state that "Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021." "Prosecutors detailed how an Adani frontman invested in opaque BVI/Mauritius &amp; Bermuda funds that almost exclusively owned <keyword id="20372802" type="General" weightage="20" keywordseo="Adani-stocks" source="keywords">Adani stocks</keyword>," it said citing the report. Adani group rejected the allegations as baseless, saying it had no involvement in any Swiss court proceedings. "We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority," it said. The Swiss media outlet Gotham City in its report stated that a ruling by the Federal Criminal Court (FCC) reveals that the Geneva Public Prosecutor's Office was investigating alleged wrongdoing and more than USD 310 million belonging to an alleged frontman for billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> have been sequestered in five Swiss banks over the last three years. The Swiss investigators suspect that the associate, Chang Chung-Ling, is not the ultimate beneficial owner (UBO) of the company under investigation, but a mere front. The Adani Group, however, said that the court order was not linked to them and they have not been mentioned in it. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="20068546" type="General" weightage="20" keywordseo="bioeconomy" source="keywords">bioeconomy</keyword> has experienced significant growth, reaching a valuation of USD 151 billion by the end of 2023, according to a new report, which said that the surge highlights the bioeconomy's critical role in national development, contributing 4.25 per cent to the country's GDP and positioning India among the top five global bioeconomies. The report, prepared by the <keyword id="20068545" type="General" weightage="20" keywordseo="biotechnology" source="keywords">Biotechnology</keyword> Industry Research Assistance Council (<keyword id="22722619" type="General" weightage="20" keywordseo="BIRAC" source="keywords">BIRAC</keyword>) and the Association of Biotechnology Led Enterprises (ABLE), outlines transformative advances across biotechnology, agricultural innovation, healthcare, and <keyword id="22906123" type="General" weightage="20" keywordseo="biomanufacturing" source="keywords">biomanufacturing</keyword>, driving the sector's expansion. It was released during a session at the Global Bio-India Summit 2024. The report said that India's bioeconomy has experienced significant growth, reaching a valuation of USD 151 billion by the end of 2023. "This surge highlights the bioeconomy's critical role in national development, contributing 4.25 per cent to the country's GDP and positioning India among the top five global bioeconomies," it said. One of the major drivers of this growth has been the BioE3 (Biotechnology for Economy, Environment, and Employment) Policy, the report said, noting that the policy focuses on bio-based chemicals, precision biotherapeutics, climate-resilient agriculture, and advanced research in marine and space technologies. Rajesh S Gokhale, Secretary DBT, Chairman BIRAC &amp; DG-BRIC said the India bioeconomy report 2024, launched at the 4th edition of Global Bio India, marks a pivotal moment in India's journey to becoming a global leader in biotechnology. "The report underscores India's bioeconomy growth from USD 10 billion in 2014 to USD 151 billion by 2023, driven by rising demand for vaccines and biopharmaceuticals. With the new BioE3 Policy, we are poised to accelerate this momentum, aiming to reach USD 300 billion by 2030. This report sets the foundation for India's bio-revolution and highlights our path towards global leadership in biotechnology," Gokhale told PTI. The report also emphasises the use of Artificial Intelligence (AI) in biomanufacturing, with plans to create biomanufacturing and Bio-AI hubs. These efforts are expected to create new employment opportunities, particularly in tier-II and tier-III cities, while supporting the integration of biotechnology across various industries, the report said. The Bioindustrial sector remains the largest contributor to India's bioeconomy, accounting for USD 72.6 billion or 48.09 per cent of the total market, the report said. This sector includes biofuels, bioplastics, and enzymatic applications in industries such as textiles and detergents. Biofuels, in particular, have seen a sharp rise, with ethanol production capacity increasing to 13.8 billion litres in 2023, making India the world's third-largest producer of ethanol. The Ethanol Blended Petrol (EBP) programme, which promotes domestic ethanol production, has been central to reducing India's dependency on imported fuels and enhancing energy security, the report added. The biopharma sector also saw impressive growth, contributing USD 53.8 billion or 35.65 per cent to the bioeconomy. India's vaccine manufacturing capacity continues to be a global leader, with companies like Serum Institute of India (SII) producing over 3 billion doses annually. Major breakthroughs, such as the R21/Matrix-M malaria vaccine and India's first quadrivalent Human Papillomavirus (HPV) vaccine, have highlighted India's prowess in vaccine production. The diagnostics and medical devices segment, which grew to USD 19.4 billion, has also played a crucial role in addressing healthcare challenges, particularly through advancements in early disease detection and personalized medicine, the report said. In the bioagri sector, which accounted for USD 12.44 billion (8.24 per cent), agricultural biotechnology continues to drive innovations in sustainable farming practices. Precision agriculture technologies, such as genetically modified crops and bio-based products like biopesticides, are being increasingly adopted to enhance agricultural productivity. "Bt cotton remains a key example of how biotechnology is improving crop resilience and yields, contributing to sustainable agriculture growth in India," the report said. India's bioservices sector, valued at USD 12.1 billion (8.02 per cent), has emerged as a critical support system for the bioeconomy, providing contract research, clinical trials, and biotech software services, the report said. "This segment grew by 30 per cent in 2023, reflecting India's expanding role as a global hub for research and development. The sector's growth is expected to continue, with increasing demand for outsourced research and specialised bioservices that help accelerate product commercialisation," the report added. Looking ahead, the report said India's bioeconomy is expected to continue its robust expansion, targeting a valuation of USD 300 billion by 2030. "This growth will be driven by advancements in sectors like bioindustrial, biopharma, and bioagri, along with strategic government policies such as the BioE3 initiative. The bioeconomy is also projected to support over 35,000 startups and create 35 million jobs by the end of the decade, underscoring its potential as a key driver of India's sustainable development and economic growth," it said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

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