P N Gadgil Jewellers Limited’s Executive Committee has approved the launch of a Qualified Institutions Placement (QIP). The committee adopted a preliminary placement document and authorized the opening of the issue to eligible institutional buyers. A floor price of ₹640.69 per equity share has been fixed, based on SEBI ICDR Regulations. The company may offer a discount of up to 5% on this floor price.
P N Gadgil Jewellers Announces QIP Launch
The Executive Committee of P N Gadgil Jewellers Limited met on July 30, 2026, to consider and approve key aspects of a Qualified Institutions Placement (QIP). This follows previous approvals from the Board of Directors on July 03, 2025, and a special resolution by shareholders at the Annual General Meeting on August 18, 2025.
Key Approvals for Equity Placement
During the meeting, the committee granted approval for the preliminary placement document dated July 30, 2026, and the draft application forms intended for eligible qualified institutional buyers. This paves the way for inviting bids and receiving applications for the subscription of equity shares through the QIP.
Authorization and Regulatory Compliance
The committee further authorized the opening of the proposed issue. This placement will be conducted under Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Section 42 of the Companies Act, 2013. The authorization also includes compliance with relevant rules as amended.
Floor Price and Pricing Mechanism
A significant outcome of the meeting was the approval of the floor price for the QIP, set at ₹640.69 per Equity Share. This price is determined using the pricing formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations. The ‘Relevant Date’ for the QIP has been fixed as July 30, 2026.
In accordance with Regulation 176(1) of the SEBI ICDR Regulations, P N Gadgil Jewellers Limited retains the discretion to offer a discount of not more than 5% on the calculated Floor Price for this QIP.
Next Steps
The issue price will be finalized in consultation with the appointed lead manager. The preliminary placement document will be filed with the BSE Limited and the National Stock Exchange of India Limited on July 30, 2026. A copy of this document will also be made available on the company’s website, www.pngjewellers.com.
Source: BSE
