P N Gadgil Jewellers Limited’s board has approved the adoption of the ‘PNG ESOP 2026’ plan for employees and its subsidiary. Additionally, the board greenlit an investment of up to USD 6,500,000 in its wholly-owned US subsidiary, PNG Jewelers INC, to fund business expansion. The reappointment of Dr. Vaijayanti Pandit as an Independent Director was also approved, subject to shareholder consent.
Board Approves Employee Stock Option Plan
P N Gadgil Jewellers Limited (PNGJL) announced that its Board of Directors, in a meeting held on September 19, 2026, has approved the adoption of the ‘PNG ESOP 2026’ Employee Stock Option Plan. This plan is designed for eligible employees of the Company and its subsidiaries, adhering to SEBI regulations. The adoption is subject to the approval of the Company’s members. The plan proposes to grant up to 1,15,000 Equity Shares of face value INR 10/- each.
Reappointment and Additional Investment
The Board also approved the reappointment of Dr. Vaijayanti Pandit (DIN: 06742237) as an Independent Director for a second term of two consecutive years, commencing March 14, 2027. Furthermore, PNGJL has approved an additional investment of up to USD 6,500,000 (approximately INR 54 Crores) in its wholly-owned US subsidiary, PNG Jewelers INC. This investment, to be made through subscription to fresh equity shares, will fund the expansion of business in the United States and support general corporate purposes.
Details of the ESOP and Investment
The PNG ESOP 2026 will be administered by the Nomination and Remuneration Committee. The total number of shares covered by the ESOP is 1,15,000. The Exercise Price will not be less than the Face Value of the equity shares and will not exceed the prevailing market price. The plan aims to incentivize eligible employees and aligns with the company’s growth strategy. The investment in PNG Jewelers INC is crucial for its retail jewellery business expansion in the US market, with the first tranche planned by September 15, 2027.
Source: BSE
