National News
P. N. Gadgil & Sons Makes a Historic Return to Laxmi Road with Reopened Showroom in Pune
P. N. Gadgil & Sons (PNGS), one of India’s oldest and most renowned jewellery brands, has marked a historic return to Pune’s Laxmi Road with the reopening of its showroom at Saraswati Sadan, Kunte Chowk. The event, which took place on March 30, 2025, celebrated the brand’s deep connection with the area where it all began nearly two centuries ago.
The reopening ceremony was graced by notable figures including Shri Ravindra Vanjarwadkar, Pune Mahanagar Sanghchalak of the Rashtriya Swayamsevak Sangh, and Mr. and Mrs. Shrikrishna Chitale of Chitale Bandhu Mithaiwale, alongside a gathering of local residents and loyal customers.

Founded in 1832, PNGS had operated on Laxmi Road before relocating to various other locations as it expanded. However, the reopening reflects the company’s commitment to its roots and the enduring request from Pune’s residents to return to this historic site. “Laxmi Road is part of our legacy, and reopening here holds great significance for us,” said Aditya Modak, CFO and COO of PNGS.
The spacious 5,000-square-foot showroom features an exquisite collection of gold, diamond, and silver jewellery, adhering to PNGS’s core values of transparency and hallmark certification, which have defined the brand for generations. With this new location, the jeweller strengthens its presence in Pune and continues to expand across Maharashtra and beyond.
National News
Deepa Jewellers Lists At Rs 221, A 25% Premium
The Offer Was Subscribed 42.61 Times, Led By Non-Institutional Investors (105.96x), Qualified Institutional Buyers (37x), and Retail Investors (18.55x)
Shares of Hyderabad-based Deepa Jewellers made a strong stock market debut on Sept. 8, listing at a nearly 25% premium to their issue price following high demand for its Rs 459.72-crore ($55 million) initial public offering.
The stock opened at Rs 221 on the National Stock Exchange (NSE) and Rs 221.05 on the BSE, compared to the offer price of Rs 177.
Oversubscribed: The offer was subscribed 42.61 times, led by non-institutional investors (105.96x), qualified institutional buyers (37x), and retail investors (18.55x).
Capital Deployment: Proceeds from the Rs 250-crore fresh issue component will primarily fund long-term working capital (Rs 215 crore) to scale inventory. The IPO also included an offer for sale worth Rs 209.72 crore.
Financials: The B2B 22-carat gold jewellery supplier reported FY26 revenue of Rs 1,926.68 crore, up from Rs 1,397.01 crore in FY25. Net profit surged 158% year-on-year to Rs 104.79 crore.
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