The fundraising will be carried out in one or more tranches and may include qualified institutional placements (QIPs), preferential allotments, or other permitted routes.

The capital will be used to fuel the company’s future growth initiatives, strategic investments, and working capital requirements. The issuance may involve equity shares or other eligible securities, depending on market conditions and regulatory clearances.

The board also approved key leadership changes to strengthen the company’s governance and operational structure. Kiran Firodiya, Radhika Gadgil, and Parag Gadgil have been appointed as Whole-time Directors, pending shareholder approval.

Additionally, the company has inducted experienced banker Purushottam Sharad Bedekar as an Independent Director for a five-year term, further reinforcing its board with seasoned industry expertise.

The developments signal PN Gadgil Jewellers' focus on scaling operations and positioning itself for long-term growth in the competitive jewellery retail space.