PN Gadgil Jewellers to Acquire 100% Stake in Silvostyle Jewellers for ₹27.96 Crore
P N Gadgil Jewellers will acquire 100% of Silvostyle Jewellers for ₹27.96 Crore. The company also announced its 13th AGM on September 28, 2026. The acquisition is expected to complete by December 31, 2026.
The acquisition of a 100% stake in another company, especially one with significant turnover, is a material event that can significantly impact the company's business operations, market presence, and financial performance.
The acquisition of a target company and the approval of the AGM notice are positive developments for P N Gadgil Jewellers Limited.
P N Gadgil Jewellers Limited (PNGJL) announced the outcome of its Board Meeting held on August 20, 2026. The Board approved the draft notice for the 13th Annual General Meeting (AGM) scheduled for Monday, September 28, 2026, at 03:00 PM IST, which will be conducted via Video Conferencing (VC) or Other Audio Visual Means (OAVM).
Furthermore, the company has approved the acquisition of a 100% stake in Silvostyle Jewellers Limited (SJL). This acquisition will be carried out through the purchase of 1,50,00,000 Equity Shares via a fresh issue and acquisition from existing shareholders, in one or more tranches. Upon completion, SJL will become a wholly-owned subsidiary of PNGJL. The total consideration for this acquisition is ₹27.96 Crore.
Silvostyle Jewellers Limited is engaged in the fashion silver jewellery business and was incorporated on December 19, 2025. It acquired Silvostyle Jewellery LLP by way of slump sale effective May 01, 2026. For the fiscal year ending March 31, 2026, SJL reported a turnover of ₹72.93 Crore, compared to ₹40.46 Crore in FY25 and ₹27.09 Crore in FY24. The acquisition is expected to strengthen and consolidate PNGJL's jewellery business, create operational synergies, broaden product offerings, and enhance market presence. The transaction is expected to be completed on or before December 31, 2026, and qualifies as a related party transaction as SJL is part of the Promoter Group of PNGJL. The transaction will be undertaken at arm's length.
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P N Gadgil Jewellers Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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