P N Gadgil Jewellers has completed the acquisition of a 100% stake in Silvostyle Jewellers Limited (SJL), making SJL a wholly owned subsidiary of the company. The transaction concluded on October 1, 2026, following the allotment and transfer of equity shares as per the Share Purchase Agreement.

Transaction Details

The acquisition was executed through two primary mechanisms: subscription to fresh equity shares and transfer from existing shareholders. This structure allowed P N Gadgil Jewellers to secure full ownership control over SJL.

The Board of Directors of SJL approved the allotment of 1,48,50,000 equity shares to P N Gadgil Jewellers. Concurrently, existing shareholders transferred 1,50,000 equity shares to the company. Upon completion of these transactions, P N Gadgil Jewellers holds an aggregate of 1,50,00,000 equity shares, constituting the entire paid-up equity share capital of SJL.

Regulatory Compliance and Timeline

This completion follows the initial board approval announced on August 20, 2026. At that time, the company had informed stock exchanges that its Board had approved the acquisition of 100% stake in SJL via fresh issues and share transfers in one or more tranches. The current disclosure serves as the final confirmation of the transaction's closure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

With effect from October 1, 2026, Silvostyle Jewellers Limited operates as a wholly owned subsidiary of P N Gadgil Jewellers Limited.

P N Gadgil Jewellers Limited passed both ordinary resolutions proposed at its 13th Annual General Meeting held on September 28, 2026, with overwhelming shareholder support. The company adopted its FY26 financial statements and re-appointed Radhika Gadgil as Whole-time Director, securing 99.99% of valid votes in favour for each item.

The meeting was conducted through Video Conferencing and Other Audio-Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs and SEBI guidelines. Dr. Saurabh Gadgil, Chairman and Managing Director, chaired the session from the registered office in Pune. The results were subsequently filed with stock exchanges pursuant to Regulation 44(3) of SEBI Listing Regulations.

Key resolutions passed

Members approved two ordinary resolutions during the e-voting process. The statutory auditors' report and secretarial auditors' report contained no qualifications or adverse remarks for the period under review.

Radhika Gadgil retired by rotation and was re-appointed following her eligibility confirmation. The resolution regarding her re-appointment received 12,18,76,144 votes in favour against 547 votes against.

Voting and attendance details

The company facilitated remote e-voting from September 24, 2026, to September 27, 2026. Additionally, members attending the meeting virtually who had not voted earlier could cast their votes during the session. A total of 1,54,885 shareholders were on record as of the cut-off date.

Key directors present included:

• Dr. Saurabh Gadgil: Chairman & Managing Director
• Radhika Gadgil: Whole-time Director
• Parag Gadgil: Whole-time Director
• Aditya Gadgil: Non-Executive Non-Independent Director
• Susmit Ranade: Independent Director and Audit Committee Chairman

The meeting commenced at 3:00 pm and concluded at 4:15 pm, including a 15-minute window for final e-voting. Votes were unblocked at 4:33 pm in the presence of witnesses.

Scrutinizer's report details

M/s. A S Desai & Associates, Company Secretaries, served as the Scrutinizer for the voting process. The report confirmed that all electronic data was scrutinized based on reports generated from the NSDL e-voting system.

For Resolution 1 (Financial Statements), 12,18,76,342 votes were cast in favour by 160 members, while 349 votes were cast against by 8 members. No invalid votes were recorded for this resolution.

For Resolution 2 (Director Re-appointment), 12,18,76,144 votes were cast in favour by 152 members, while 547 votes were cast against by 16 members. One member cast 250 invalid votes, which were separately disclosed and excluded from the valid vote count.