Saurabh Gadgil becomes billionaire as PNG Jewellers shares surge after IPO

Saurabh Gadgil, chairman of PN Gadgil Jewellers, has become a billionaire following the company's successful IPO last month. His net worth has reached nearly $1.1 billion, with shares rising about 61 percent since the listing. Gadgil, a sixth-generation businessman, took over the family business in 1998 after completing his MBA. He has expanded PNG Jewellers, which now operates 39 retail stores and sells online. The company was founded by Ganesh Narayan Gadgil, who started selling gold from a roadside stall in Maharashtra. Gadgil's family members are also involved in the business, earning a total of 272.4 million rupees in the last financial year.