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<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

As <keyword id="23288581" type="General" weightage="100" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> shopping kicks off, <keyword id="20402496" type="General" weightage="20" keywordseo="jewellery-sales" source="keywords">jewellery sales</keyword> have begun on a slower-than-anticipated note, likely due to both elevated <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">gold prices</keyword> and weekday timing, which has kept morning footfalls modest, a PTI report says. Jewellers are hopeful for increased customer flow starting this afternoon, with peak shopping expected after 2 p.m. <keyword id="20036537" type="General" weightage="20" keywordseo="Saiyam-Mehra" source="keywords">Saiyam Mehra</keyword>, chairman of the <keyword id="21612311" type="General" weightage="20" keywordseo="All-India-Gem-and-Jewellery-Domestic-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="All India Gem and Jewellery Domestic Council" meta.hostid="261" meta.entityid="All India Gem and Jewellery Domestic Council">All India Gem and Jewellery Domestic Council</keyword>, said that while high gold prices (around ₹81,100 per 10 grams) are expected to curb volume somewhat, they hope to match last year’s numbers in terms of value. Mehra anticipates sales volume may be similar to or slightly lower than last year’s 20 tonnes due to the sustained high prices. Being a weekday we are seeing few footfalls in the morning hours as people are going to attend office. However, we are expecting the rush from afternoon, that is 2-2.30 pm, till late evening," he told PTI. <keyword id="20398993" type="General" weightage="20" keywordseo="Saurabh-Gadgil" source="keywords">Saurabh Gadgil</keyword>, Chairman of PN Gadgil Jewellers, added that Dhanteras festivities extending into Wednesday offer a broader business window, with customer bookings showing promise despite possible dips in quantity sold. The extra shopping time could offset some of the price impact, particularly for buyers seeking smaller gold pieces or silver, which has remained steady at ₹99,500 per kg. Senco Gold and Diamonds MD Suvankar Sen noted positive weekend turnout, expecting the crowd to grow through the afternoon and into late evening. The industry anticipates late-night demand will hold strong, especially among buyers seeking traditional purchases on this auspicious day for jewellery investments. This extended buying period provides customers with more options, as jewellers focus on flexibility to accommodate high-value purchases amid record gold prices. (with PTI inputs)

Dhanteras 2024: Jewellers report slower than expected sales due to rising gold prices

The Hindu calendar of this year has a bad news for wedding marketers. While the first-quarter of 2015 witnessed a rise of 15% demand of <keyword id="18712" type="ENTERTAINMENT" weightage="20" keywordseo="Gold">gold</keyword> compared to the same period of previous year, the second-half of the year won’t be a good one for gold traders and jewelers. 
 
Reports suggest that due to a 40% drop in auspicious wedding dates in the second-half of 2015, retailers and gold dealers believe that the demand for gold may drop between 15-25% in the coming months. 
 Ketan Shroff, spokesperson of <keyword id="2092899" type="UNKNOWN" weightage="20" keywordseo="India-Bullion-and-Jewellers-Association">India Bullion and Jewellers Association</keyword> told ET, "The number of auspicious days for wedding is less this year, which will definitely dent the demand of gold jewellery during the second half of this year. If prices correct at Rs 25,000 per 10 gm-level then the impact will be little less as people will still buy despite wedding dates being less. In that case, <keyword id="752314" type="UNKNOWN" weightage="20" keywordseo="Jewellery-demand">jewellery demand</keyword> will drop by 1015%. But if price remains at Rs 27,000 per 10 gm-level then jewellery sales will come down by 25% in the second half." 
 Despite the entire hullabaloo in the markets, it has been observed that <keyword id="35267" type="UNKNOWN" weightage="20" keywordseo="gold-market">gold market</keyword> remains muffled and that if price remains at Rs 27,000 per 10 gm-level then jewellery sales will come down by 25% in the second half. However, if <keyword id="35271" type="UNKNOWN" weightage="20" keywordseo="gold-price">gold price</keyword> comes down to Rs 25,000 per 10 gm-level, we can still hope that people may buy gold despite wedding dates being less. 
 
Saurabh Gadgil, managing director, PN Gadgil Jewellers, is expecting some relief in the Adhik month. He told ET, "Less number of wedding days will definitely affect jewellery sales. However, we are pinning hopes on the Adhik month which begins on July 15, when the father-in-law gifts gold items to son-in-law. Hopefully, that period will bring some relief to the trade." 
 
Image: thinkstock

Know why are Indian jewellers worried at the moment

The crisis in the Middle East has a far reaching effect on auspicious Akshaya Tritiya festival and the upcoming wedding season in India. As per a news report by The Economic Times, <keyword id="50996" type="COUNTRY" weightage="80" keywordseo="Saudi-Arabia">Saudi Arabia</keyword>'s air strike on <keyword id="44789" type="COUNTRY" weightage="80" keywordseo="Yemen">Yemen</keyword> a few days back, which has killed dozens, have pushed up <keyword id="46002" type="UNKNOWN" weightage="80" keywordseo="Gold-prices">gold prices</keyword> by Rs 700 per 10 gm. With the tension in the Middle East intact, <keyword id="18712" type="ENTERTAINMENT" weightage="80" keywordseo="Gold">gold</keyword> prices might be dearer by a few hundreds in sometime. 
 The financial daily has also informed that the <keyword id="6360789" type="ORGANIZATION" weightage="80" keywordseo="Modi-Government">Modi government</keyword>’s proposal to submit PAN details for purchases over Rs 1 lakh worth of gold may add to the worries of the customers. 
 Talking to the ET, Ishu Datwani, founder, <keyword id="2056" type="UNKNOWN" weightage="80" keywordseo="Anmol-jewellers">Anmol Jewellers</keyword>, said: "The Saudi Arabia-Yemen crisis and the weakening of rupee against dollar will have a cascading effect on gold prices. The yellow metal may become precious during Akshaya Tritiya." 
 
However the jewellers don’t seem much worried. "Last Akshaya Tritiya, prices of gold was Rs 29,000 per 10 gm. But even at that level, people bought gold.If prices go up, it creates a positive sentiment among people. They buy gold in anticipation that prices will go up further," Saurabh Gadgil, managing director of Pune-based PN Gadgil Jewellers, told the ET. 
 <keyword id="35271" type="UNKNOWN" weightage="80" keywordseo="gold-price">Gold price</keyword> was hovering around Rs 27,000 per 10 gm yesterday. 
 
(Image: Reuters)

Yemen bombings to cast an ominous shadow on Akshaya Tritiya

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>

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

Sourabh Jain

Dhanteras 2024: Jewellers report slower than expected sales due to rising gold prices

BI India Bureau

Know why are Indian jewellers worried at the moment

BI India Bureau

Yemen bombings to cast an ominous shadow on Akshaya Tritiya

BI India Bureau

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

PTI

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

Sourabh Jain

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

PTI

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