Though the company is established as PNG in 2013, the Flagship brand the company was actually established way back in 1832. Hence the company has a strong legacy. It is a household name in Maharashtra and is the second largest organised jewellery brand in Maharashtra. The company has posted steady growth in both top line and bottom line. Based on FY 24 earnings the issue seems to be correctly priced. As on July 31, 2024, it had expanded to 39 stores, which includes 38 stores across 21 cities in Maharashtra and Goa and one store in the U.S. Company plans to open 12 new stores from the IPO funding.
Investors may park the funds for medium to long term horizon.
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