P N Gadgil Jewellers to Acquire Silvostyle Jewellers in ₹27.96 Crore Deal
P N Gadgil Jewellers Limited (NSE: PNGJL, BSE: 544256) has announced a major strategic move to strengthen its position in India’s jewellery market. At its Board Meeting held on 20 August 2026, the company approved the acquisition of a 100% stake in Silvostyle Jewellers Limited, a fast-growing fashion silver jewellery business, for ₹27.96 crore.
The acquisition is expected to expand PNG Jewellers’ product portfolio, enhance its presence in the silver jewellery segment, and create long-term operational synergies.
Why is PNG Jewellers Acquiring Silvostyle?
The acquisition is aimed at consolidating PNG Jewellers’ jewellery business by integrating Silvostyle Jewellers Limited into the PNG Group.
According to the company, the deal will help:
Expand its fashion silver jewellery offerings
Strengthen its retail market presence
Improve operational efficiencies through business integration
Create long-term growth opportunities in the affordable jewellery segment
Silver jewellery has emerged as one of the fastest-growing categories in India’s jewellery industry, driven by younger consumers and increasing demand for contemporary designs.
About Silvostyle Jewellers Limited
Silvostyle Jewellers Limited is an unlisted public company focused exclusively on fashion silver jewellery.
Although the company was incorporated in December 2025, it took over the business of Silvostyle Jewellery LLP through a slump sale effective 1 May 2026. As a result, the LLP’s established business operations now form the foundation of Silvostyle Jewellers Limited.
Business Performance of Silvostyle Jewellery LLP
Financial Year | Turnover |
|---|---|
FY2023-24 | ₹27.09 crore |
FY2024-25 | ₹40.46 crore |
FY2025-26 | ₹72.93 crore |
The numbers highlight a rapidly growing business, with revenue nearly tripling in just two years.
Deal Structure
The acquisition will be completed through a combination of:
Purchase of 1,50,000 existing equity shares from current shareholders
Subscription to 1,48,50,000 fresh equity shares
Once completed, PNG Jewellers will own 100% of Silvostyle Jewellers Limited.
Item | Details |
|---|---|
Acquisition Value | ₹27.96 crore |
Stake Acquired | 100% |
Mode of Payment | Cash & Cash Equivalents |
Expected Completion | On or before 31 Dec 2026 |
Is This a Related Party Transaction?
Yes, Silvostyle Jewellers Limited is part of the Promoter Group of PNG Jewellers. Promoters including Saurabh Gadgil, Radhika Gadgil, and Aditya Gadgil are directors and shareholders in both companies.
However, PNG Jewellers clarified that the transaction will be carried out at arm’s length, in compliance with SEBI’s related-party transaction regulations.
Annual General Meeting Announced
The Board also approved the notice for the 13th Annual General Meeting (AGM), which will be held on:
AGM Details | Information |
|---|---|
Date | 28 September 2026 |
Time | 3:00 PM IST |
Mode | Video Conferencing / OAVM |
The detailed AGM notice will be issued separately.
What This Means for Investors
This acquisition signals PNG Jewellers’ intention to diversify beyond traditional gold jewellery and capture the growing demand for fashionable silver jewellery.
Positive Takeaways
Entry into a high-growth silver jewellery segment
Strong revenue base through Silvostyle’s existing business
Opportunity for cross-selling across PNG’s retail network
Potential operational and brand synergies
Points to Watch
Integration of the acquired business
Profitability after consolidation
Growth in the silver jewellery category over the next few years
P N Gadgil Jewellers’ ₹27.96 crore acquisition of Silvostyle Jewellers represents more than just an expansion—it reflects a strategic shift toward a broader lifestyle jewellery portfolio. If successfully integrated, the deal could strengthen PNG Jewellers’ competitive position in both traditional and contemporary jewellery markets.