Acquisition of Silvostyle Jewellers completed; becomes a wholly owned subsidiary

P N Gadgil Jewellers has completed buying 100% of Silvostyle Jewellers Ltd (SJL).

Thu 1 Oct 2026

Stake Acquired

100%

Fresh Issue Allotment

1,48,50,000 Equity Shares were allotted to it via a fresh issue

Shares from Existing Shareholders

1,50,000 Equity Shares came from existing shareholders

Total Shares Acquired

1,50,00,000 shares in all

Subsidiary Status Effective

wholly owned subsidiary from October 01, 2026

The update confirms that the transaction flagged earlier has been completed: Silvostyle Jewellers Ltd (SJL) is now a wholly owned subsidiary of P N Gadgil Jewellers Ltd.

What the update says happened

• The Board of P N Gadgil Jewellers had approved the acquisition of a 100% stake in SJL on August 20, 2026, by way of acquisition of Equity Shares through a fresh issue and acquisition from the existing shareholders, in one or more tranches.
• The company states the acquisition has now been completed pursuant to the terms of the Share Purchase Agreement and the applicable transaction documents.

How the shareholding was built up

• The company has made the requisite payment towards subscription to the fresh Equity Shares of SJL.
• The Board of Directors of SJL approved the allotment of 1,48,50,000 Equity Shares to the company.
• Pursuant to the Share Purchase Agreement, the existing shareholders of SJL have transferred 1,50,000 Equity Shares to the company.
• Together, the company has acquired an aggregate of 1,50,00,000 Equity Shares, representing 100% of the paid-up equity share capital of SJL.

What it means for the structure

• A wholly owned subsidiary is one in which the parent holds the entire equity share capital; here that is 100% of SJL's paid-up equity share capital.
• The change takes effect from the date of completion, October 01, 2026.

Points to note

• This is a completion update. The details of the acquisition were earlier disclosed by the company under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, through its intimation dated August 20, 2026, and the earlier disclosure may be read together with this intimation.
• The update states that the payment towards subscription to the fresh Equity Shares of SJL has been made, and that both legs described in the transaction documents have been given effect: the fresh allotment to the company and the transfer from existing shareholders.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.