PN Gadgil Jewellers board approves ₹1,000 cr fundraise via equity, QIP options

P N Gadgil Jewellers Ltd has announced that its board has approved raising up to ₹1,000 crore through equity instruments, including qualified institutional placements (QIPs), preferential allotments, or other permissible routes.

The proposed fundraising, approved at the board meeting on July 3, will take place in one or more tranches and is subject to shareholder and regulatory approvals.

The company said the capital raise would support future growth initiatives, strategic investments, and working capital requirements. The issuance will include equity shares or other eligible securities, depending on market conditions and regulatory permissions.

The board also approved several leadership changes. Kiran Firodiya, Radhika Gadgil, and Parag Gadgil have been designated as Whole-time Directors, subject to shareholder approval.

Additionally, seasoned banker Purushottam Sharad Bedekar has been appointed as an Independent Director for a five-year term.

Also Read: Diamond demand rising as Indian buyers move beyond gold: PNG Jewellers

In a CNBC-TV18 interview on June 9, Chairman and MD Saurabh Gadgil noted that India’s diamond market still has significant headroom, with only 11–12% penetration versus 60–70% in the West.

Despite volatility in gold, PNG Jewellers expects strong festive and wedding season demand to drive robust performance in H2FY26.

At 2:56 PM, shares of P N Gadgil Jewellers Ltd were trading at ₹601 on NSE, down 0.61%.