India's newest billionaire was a RBI intern and national level chess player. Meet Saurabh Gadgil of PNG Jewellers
PN Gadgil Jewellers has seen a remarkable rise in its share value since its initial public offering (IPO) this September. The IPO came just ahead of India’s festive and wedding season, a peak period for jewelry sales. This surge in market performance has propelled Saurabh Gadgil, the company’s MD and CEO, to a net worth of nearly $1 billion, according to Bloomberg.
Founded in 1832, PNG Jewellers started as a small jewelry shop in Sangli, Maharashtra, and has grown into a renowned brand recognized for its traditional designs and fine craftsmanship. The business has been built and sustained by six generations of the Gadgil family, becoming a household name in the jewelry industry.
About Saurabh Gadgil
Saurabh Gadgil, who took over the reins of PNG Jewellers in 1998, has been instrumental in the brand’s transformation. A former national-level chess player, Gadgil, 47, credits his success to strategic thinking, much like anticipating moves on a chessboard. His leadership has guided the company through collaborations with top Bollywood stars and unique jewelry collections that capture popular trends.
Among the brand’s many achievements, the launch of the “Timeless” collection with Bollywood icon Madhuri Dixit stands out. Another significant milestone was the partnership with Salman Khan’s “Being Human” foundation. PNG Jewellers designed jewelry for hit movies like Prem Ratan Dhan Payo and Bajrangi Bhaijaan, with the Bajrangi pendant becoming a best-seller
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