PN Gadgil Jewellers Limited announced the approval of its Board of Directors to acquire 100% stake in Silvostyle Jewellers Limited for a total consideration of ₹27.96 crore. This strategic acquisition aims to strengthen and consolidate the company’s jewellery business by integrating Silvostyle into the PNG Group, expecting to create operational synergies and enhance market presence. The transaction is expected to be completed by December 31, 2026.
Board Approves Acquisition of Silvostyle Jewellers
PN Gadgil Jewellers Limited has officially approved the acquisition of Silvostyle Jewellers Limited, a move set to bolster its position in the fashion silver jewellery market. The board’s decision, made on August 20, 2026, greenlit the purchase of 100% stake in Silvostyle Jewellers Limited through the acquisition of equity shares. The total consideration for this strategic acquisition has been fixed at ₹27.96 crore.
Strategic Rationale and Synergies
The primary objective behind this acquisition is to strengthen and consolidate PN Gadgil Jewellers’ overall business by integrating Silvostyle Jewellers Limited into the PNG Group. The company anticipates that this integration will unlock significant operational synergies, broaden its product offerings, and enhance its overall market presence within the competitive jewellery sector. Silvostyle Jewellers Limited is engaged in the fashion silver jewellery business.
Transaction Details
The acquisition involves purchasing 1,50,00,000 Equity Shares. This includes both fresh issuance of shares and acquisition from existing shareholders, to be completed in one or more tranches. The transaction is expected to conclude on or before December 31, 2026. Silvostyle Jewellers Limited, incorporated on December 19, 2025, has shown turnover figures of ₹72.93 crore for the period ending March 31, 2026, with historical turnover of ₹40.46 crore (March 31, 2025) and ₹27.09 crore (March 31, 2024) for Silvostyle Jewellery LLP.
Related Party Transaction
It was noted that the proposed acquisition qualifies as a related party transaction, as Silvostyle Jewellers Limited is part of the Promoter Group of PN Gadgil Jewellers Limited. Key individuals associated with the promoter group, including Mr. Saurabh Gadgil, Mrs. Radhika Gadgil, and Mr. Aditya Gadgil, are also directors and shareholders of Silvostyle Jewellers Limited. The company has confirmed that the transaction will be conducted at arm’s length.
AGM Notice Approved
In addition to the acquisition, the Board also considered and approved the draft notice for the 13th Annual General Meeting (AGM) of the Company. The AGM is scheduled to be held on Monday, September 28, 2026, at 03:00 P.M. (IST) through Video Conferencing (VC) or Other Audio Visual Means (OAVM), in compliance with applicable circulars from the Ministry of Corporate Affairs and SEBI. The detailed notice for the AGM will be intimated separately.
Source: BSE
