National News
Madhuri Dixit inaugurates 20000* sqft jewellery shopping destination for PNG Jewellers at Laxmi Road, Pune
Retail expansion in jewellery aligns with the consumer response in any given market. Phenomenal popularity and product demand call for unprecedented expansion, and one such instance was exhibited by PN Gadgil Jewellers, widely known for its commitment towards excellence across a legacy of 193 years of business and counting, with the launch of a new store besides renovation of its flagship showroom, both at Laxmi Road in Pune, on 23 March, 2025.
Catering to rising demand across all categories of gold, diamond, platinum, and colour gemstone jewellery in the Pune market, the two stores were jointly inaugurated by Bollywood diva Madhuri Dixit in the presence of Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers; Mr. Parag Gadgil, and members of the PNG Jewellers family. The combined area of the two large-format stores now reach a staggering 20,000 sq. ft.*
Dr. Saurabh Gadgil, Chairman and Managing director of PNG Jewellers said, “Pune holds a special place in our hearts, as it is where our flagship store continues to stand as an example to our heritage and trust. Now, the brand has a total of 53 stores across the world. As we strive to strengthen our retail network further, this expansion brings us closer to our patrons, ensuring they have convenient access to the finest jewellery, steeped in tradition and craftsmanship. We look forward to serving the people of Pune with the same commitment to quality, craftsmanship, and trust.”
Ushering in a completely modern in-store experience while respecting Maharashtrian tradition, the renovated flagship showroom has been redesigned akin to heritage Wada courtyard houses intrinsic to the state. Exclusively retailing in gold jewellery of Kalkatti, temple, antique, and kundan designs, the flagship showroom specialises in bridal jewellery along with a dedicated wedding lounge replete with private make-up stations to give the brides-to-be the attention they deserve. The new 2-storey showroom, on the other hand, stands tall as a hub of the studded categories including diamond, platinum, uncut, polki, and precious colour gemstone jewellery. The expansion has now diversified the product range of PNG Jewellers by an impressive 30-40%, thus giving buyers across all categories better options for an immersive and satisfying shopping experience.
Commenting on the continuing legacy of the brand, ambassador and Bollywood superstar Madhuri Dixit said, “It is a privilege to be a part of this historic event with PNG Jewellers, a company known for its excellence and tradition. Their commitment to preserving tradition while embracing modern designs truly sets PNG Jewellers apart. PNG has always stood for trust, tradition, and timeless craftsmanship.”
The new store of PNG Jewellers is located 500 meters away from their flagship store, and has rolled out exclusive offers such as 0% deduction on old gold exchange, up to 40% off on gold jewellery-making charges, and up to 100% off on diamond jewellery-making charges respectively to celebrate the grand inauguration.
National News
Deepa Jewellers IPO Subscribed 43x
Bids From Non-Institutional Investors Spearheaded The Rally, Oversubscribing Their Reserved Allotment By Nearly 106 Times.
Massive Demand: Deepa Jewellers’ Rs 460-crore ($55M) public offer closed 43 times oversubscribed on its final day of bidding.
Non-Institutional Lead: Bids from non-institutional investors spearheaded the rally, oversubscribing their reserved allotment by nearly 106 times.
Anchor Backing: The company secured Rs 138 crore from marquee anchor investors, including Motilal Oswal Finvest and WhiteOak CapitalMutual Fund, prior to the mlaunch.
Market Debut: Shares of the B2B gold supplier are set to list on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 8.
Gold jewellery supplier Deepa Jewellers saw massive investor appetite for its initial public offering, finishing its final day of book-building nearly 43 times oversubscribed on Thursday.
According to National Stock Exchange (NSE) data, the Rs 460-crore public issue received bids for more than 78.9 crore shares against an available pool of 1.85 crore shares.
The issue carried a price band of Rs 168 to Rs 177 per share, valuing the company at an estimated market capitalization of roughly Rs 1,700 crore at the upper end of the range. The offering comprised a fresh issue of equity shares worth up to Rs 250 crore alongside an offer-for-sale (OFS) of more than 1.18 crore shares.
Ahead of the public rollout, the Telangana-based company raised Rs 138 crore from prominent anchor investors, drawing capital from domestic heavyweights like Motilal Oswal Finvest and WhiteOak Capital Mutual Fund.
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