India: PNGS Gargi Fashion Jewellery Limited became the 409th company to get listed on the BSE SME Platform on December 20, 2022. PNGS Gargi Fashion Jewellery Limited came out with an initial public offering of 26,00,000 Equity Shares of Rs.10 Each (“Equity Shares”) For Cash at a Price of Rs. 30 Per Equity Share (The “Offer Price”), Aggregating to Rs. 7.80 Crore. The company has successfully completed its public issue on December 13, 2022.
PNGS Gargi Fashion Jewellery Limited is a Maharashtra-based company whose registered office is in Pune. The company 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.
Maharashtra-based SHRENI SHARES PRIVATE LIMITED, was the lead manager to PNGS GARGI FASHION JEWELLERY LIMITED.
So far, 158 companies have migrated to the main board. The 408 companies listed on BSE SME Platform have raised Rs.4,502 crore from the market and the total market capitalization of 408 companies as on December 19, 2022 is Rs. 65,000.00 Crore. BSE is the market leader in this segment with a market share of 60 percent.
SEBI came out with detailed guidelines on 18th May 2010 for launching of SME Exchange/Platform. BSE was the first stock exchange to get the approval from SEBI and launch its SME platform on 13th March 2012.
The response since the launch of this platform by BSE has been very positive till date.