National News
P N Gadgil & Sons Expands to Thane, Bringing Its Legacy of Trust and Excellence to the City
P N Gadgil and Sons (PNGS), one of India’s most legendary jewellery brands, has inaugurated its latest showroom in Thane. Located at Shrushti Prime, Gokhale Road, the grand opening marks a new milestone in PNGS’s 193-year legacy, fulfilling the long-standing demand of customers in the region.
For decades, customers from Thane have expressed their desire for a PNGS showroom closer to home, drawn by the brand’s continued commitment to transparency, ethical business practices, and unmatched service. With this expansion, PNGS strengthens its promise of delivering exquisite jewellery and a seamless shopping experience to its patrons.
The launch event witnessed an overwhelming response from jewellery enthusiasts, who explored a wide collection of gold, diamond, and silver designs. Blending timeless tradition with contemporary elegance, the showroom showcases superior craftsmanship and trendsetting pieces that reflect PNGS’s dedication to excellence.
PNGS had announced special inaugural offers to celebrate the grand opening, available until March 9, 2025. These exclusive offers provide a golden opportunity for jewellery enthusiasts to bring home exquisite pieces at special prices.
With nearly two centuries of heritage, PNGS continues to uphold its reputation as a trusted name in jewellery. The new showroom in Thane will offer certified purity, a grand collection of innovative designs, and personalized customer service to enhance the shopping experience.
Speaking about this, Aditya Modak, COO and CFO of PNGS, said, “P N Gadgil & Sons has always been more than a jewellery brand—it is a legacy of trust, built over generations. Our customers in Thane have been a part of this journey, and it is truly gratifying to bring our heritage of purity and excellence closer to them. We invite everyone to visit our showroom and experience the tradition of fine craftsmanship and impeccable service that defines PNGS.”
National News
GRT Jewellers Bets Big on TBZ to Acquire 74% for ₹1,034 Crore
The deal, signed on August 31, 2026, values the transaction at up to ₹209 per share and marks a significant reshaping of India’s organised jewellery retail landscape.The transaction will give GRT sole control of TBZ, including the right to appoint nominee directors.
In a landmark consolidation move, GRT Jewellers is set to take control of Tribhovandas Bhimji Zaveri (TBZ), acquiring a 74.12% promoter stake for up to Rs.1,034 crore. The deal, signed on August 31, 2026, values the transaction at up to ₹209 per share and marks a significant reshaping of India’s organised jewellery retail landscape.
GRT Jewellers (India) Private Limited will acquire the entire stake held by TBZ’s promoter group, including Shrikant Gopaldas Zaveri (50.06%), Bindu Shrikant Zaveri (5.24%), Binaisha Shrikant Zaveri (7.92%), Raashi Shrikant Zaveri (6.85%) and two promoter-group entities holding 2.02% each.
The acquisition will trigger a mandatory open offer for the remaining public shareholding, with GRT set to launch an offer for up to 26% of TBZ’s equity in accordance with applicable SEBI regulations.
The transaction will give GRT sole control of TBZ, including the right to appoint nominee directors. The existing promoter directors—Shrikant Gopaldas Zaveri, Binaisha Shrikant Zaveri and Raashi Shrikant Zaveri—are expected to step down following completion.
For TBZ, one of India’s oldest and most recognised jewellery brands, the deal signals a major transition from promoter-led ownership to strategic control by one of the country’s prominent jewellery players. For GRT, it represents an ambitious expansion of its footprint and a potentially transformative bet on TBZ’s established brand equity, retail network and customer franchise.
The deal could emerge as one of the most significant strategic moves in India’s organised jewellery sector, underscoring the accelerating consolidation of a market where scale, brand strength and retail reach are becoming increasingly decisive.
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