Trilegal advises PNG Jewellers on ₹700 crore QIP

PN Gadgil Jewellers Limited has raised ₹700 crore from a qualified institutions placement of up to 11,494,252 equity shares.

Trilegal advised PN Gadgil Jewellers and the placement agent Nuvama Wealth Management Limited on this QIP.

The transaction was led by Abhinav Maker (Partner), with support from Debarpita Pande (Senior Associate), Maniya Goyal (Senior Associate), Jayant Saxena (Senior Associate) and Varda Saxena (Associate).

PN Gadgil Jewellers is the third fastest growing jewellery brand amongst the select organised jewellery peers in India with a CAGR of 33.56, based on the revenue growth between Fiscal 2023 and Fiscal 2026. It is one of the largest jewellery brands in Maharashtra among the organised select players, in terms of the total number of stores, with 68 of its 77 stores in India, which is approximately 88% of the stores located in Maharashtra, as of April 2026.

The proceeds of the QIP are proposed to be used towards the opening of new stores and funding working capital requirements.

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