Monitoring Agency Report for the Quarter ended March 31, 2026
PNGJL · price
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P N Gadgil Jewellers has submitted its Q4 FY2026 monitoring report by ICRA Limited for the September 2024 IPO proceeds. The IPO raised INR 850 crore in net proceeds (revised to INR 799.77 crore due to INR 1.95 crore increase in issue-related expenses). All three use-of-proceeds objects are fully deployed: INR 392.57 crore for 12 new stores in Maharashtra, INR 300 crore for debt repayment, and INR 107.20 crore for general corporate purposes. The monitoring agency confirms no material deviations from the offer document objects, and all projects remain on schedule. Unutilized amount stands at just INR 0.57 crore (issue-related expenses).
This is a routine compliance filing confirming proper deployment of IPO funds with no red flags. Shareholders can note that the jewellery retailer has successfully executed its stated expansion and deleveraging plans from the IPO.