P N Gadgil Jewellers has received board approval to acquire a 100% stake in Silvostyle Jewellers Limited for ₹27.96 crore. The board meeting was held on August 20, 2026.

Acquisition details

The following table outlines the key parameters of the transaction as approved by the board:

The board of P N Gadgil Jewellers approved the acquisition of the entire stake in Silvostyle Jewellers Limited, amounting to ₹27.96 crore. The transaction involves a complete buyout through the acquisition of 1,50,00,000 Equity Shares at a price of ₹18.64 per share. This comprises 1,50,000 shares (1% of post-issue capital) from existing shareholders and a fresh issue of 1,48,50,000 shares (99% of post-issue capital) in one or more tranches.

The total consideration breaks down as follows:

• ₹27.68 crore towards subscription of equity shares freshly issued by Silvostyle Jewellers Limited.
• ₹0.28 crore towards acquisition of equity shares from existing shareholders.

The infusion of fresh capital of ₹27.68 crore is proposed to be utilized for the business purposes of Silvostyle Jewellers Limited. Upon completion, Silvostyle Jewellers Limited will become a wholly-owned subsidiary of P N Gadgil Jewellers.

Target profile and financials

Silvostyle Jewellers Limited is an unlisted public limited company engaged in the business of fashion silver jewellery. It was incorporated on December 19, 2025. As on March 31, 2026, the company itself reported nil turnover. However, it acquired Silvostyle Jewellery LLP by way of slump sale effective from May 01, 2026. Consequently, the business operations are now carried out under Silvostyle Jewellers Limited.

The turnover and profit after tax (PAT) of Silvostyle Jewellery LLP are as follows:

The target entity is part of the promoter group of P N Gadgil Jewellers Limited. Mr. Saurabh Gadgil, Mrs. Radhika Gadgil, and Mr. Aditya Gadgil, who are part of the promoter and promoter group of P N Gadgil Jewellers, are also directors and shareholders of Silvostyle Jewellers Limited. The transaction will be undertaken at arm’s length.

Strategic rationale

The acquisition aims to strengthen and consolidate P N Gadgil Jewellers' jewellery business by integrating Silvostyle Jewellers Limited into the PNG Group. The move is expected to create operational synergies, broaden product offerings, and strengthen the company's market presence. No governmental or regulatory approvals are required for this acquisition.

In addition to the acquisition, the board also considered and approved the draft notice of the 13th Annual General Meeting of the company, proposed to be held on Monday, September 28, 2026, at 3:00 pm through video conferencing or other audio-visual means.

P N Gadgil Jewellers Limited opened a new retail outlet under its Legacy format in Gurugram on August 15, 2026. The store, located at R2, Ground Floor, M3M Route 65, Sector 65, spans 3,500 sq. ft. and operates as a company-owned, company-operated showroom. Actress Chitrangada Singh inaugurated the outlet at approximately 6:25 pm, alongside Dr. Saurabh Gadgil, Chairman and Managing Director. The launch marks the brand’s entry into the NCR region with a focus on gold, diamond, and silver jewellery.

The new opening increases the company’s total store count to 80. This brings the portfolio composition to 66 Legacy Stores and 14 YOOU Stores, reflecting a continued focus on its premium brand segment while maintaining its contemporary jewelry line.

Store Portfolio Breakdown

To mark the opening, the company announced introductory offers valid from August 15 to August 31, 2026. Customers can avail of up to 50% off on gold jewellery making charges and up to 100% off on diamond jewellery making charges, subject to applicable terms and conditions. Dr. Gadgil stated that Gurugram is an important market for national expansion and that the new store responds to growing customer demand in the region.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Prakhar Gupta, Company Secretary & Compliance Officer, confirmed the intimation to the BSE and NSE.