PN Gadgil Jewellers Limited has announced the approval of acquiring a 100% stake in Silvostyle Jewellers Limited for a total consideration of ₹27.96 crore. The acquisition, which will be completed through fresh issuance and buyback of shares, aims to strengthen the company’s jewellery business and enhance its market presence. Additionally, the board approved the draft notice for the 13th Annual General Meeting scheduled for September 28, 2026.
Board Approves Strategic Acquisition
PN Gadgil Jewellers Limited’s Board of Directors has given its nod to the acquisition of a 100% stake in Silvostyle Jewellers Limited. This strategic move is set to bolster the company’s fashion silver jewellery segment by integrating Silvostyle Jewellers Limited into the PNG Group, aiming to foster operational synergies and expand product offerings. The acquisition is expected to significantly strengthen the company’s market presence in the competitive jewellery sector.
Acquisition Details and Consideration
The total consideration for the acquisition of Silvostyle Jewellers Limited has been set at ₹27.96 crore. This amount covers the acquisition of existing equity shares and a fresh issue of shares. The company will acquire 1,50,000 Equity Shares from existing shareholders, along with an additional 1,48,50,000 Equity Shares through a fresh issue. The transaction is anticipated to be completed in one or more tranches by December 31, 2026.
Target Entity Background
Silvostyle Jewellers Limited (“SJL”) is an unlisted public limited company engaged in the fashion silver jewellery business. Incorporated on December 19, 2025, SJL acquired the business of Silvostyle Jewellery LLP via a slump sale effective from May 1, 2026. As of March 31, 2026, SJL reported a turnover of Nil, while the Silvostyle Jewellery LLP had a turnover of ₹72.93 crore in March 2026.
Related Party Transaction Considerations
The proposed acquisition qualifies as a related party transaction, as SJL is part of the Promoter Group of PN Gadgil Jewellers Limited. Key individuals from the Promoter and Promoter Group, including Mr. Saurabh Gadgil, Mrs. Radhika Gadgil, and Mr. Aditya Gadgil, are also directors and shareholders of SJL. Despite this relationship, the transaction will be conducted at arm’s length.
Annual General Meeting Notice Approved
In addition to the acquisition, the Board also considered and approved the draft Notice of the 13th Annual General Meeting (AGM) of the Company. The AGM is proposed to be held on Monday, September 28, 2026, at 03:00 P.M. (IST) via Video Conferencing or Other Audio Visual Means. The formal notice for the AGM will be intimated separately.
Board Meeting Timeline
The Board of Directors’ meeting commenced at 01:31 P.M. and concluded at 03:05 P.M. on August 20, 2026.
Source: BSE
