Early years (1832–1890) The company was founded as Gadgil Jewellers on 29 November 1832 by Ganesh Gadgil in Sangli. In its early years, the business operated without a permanent storefront and was initially run from a pavement in a busy part of the city. In 1860, Gadgil relocated the business to a waada (traditional residence) he had purchased in
Sangli. Under Gadgil's father, the family had previously served as
savakars to the Kolhatkar and Modak families of the
Princely state of Sangli, and were thus accorded the office of
royal jeweller to the
Patwardhan kings of the State after the establishment of their jewellery business.
1890–1958 Although Gadgil intended all three of his sons to participate in the business, it was eventually continued by his middle son Narayan Gadgil. His other sons, Ramchandra and Gopal, pursued careers in moneylending and law, respectively. In 1874, Ganesh Gadgil renamed the business P. N. Gadgil Jewellers after his grandson, Purshottam Narayan Gadgil.
Expansion to Pune (1958–2012) In 1938, Anant Gadgil, the younger son of Ganesh Gadgil II, joined the family business and worked at the Sangli store for nearly two decades. In 1958, he and his cousin, the son of Vishwanath Gadgil, established a new retail outlet in Pune under the name P. N. Gadgil Jewellers & Company, located on Laxmi Road.
Formal separation and IPO (2012–present) In 2012, the Pune and Sangli branches formally separated, with the Pune operations continuing under the name P. N. Gadgil & Company. Saurabh Gadgil, who had joined the company in 2000, later became its chairman and managing director. During his tenure, the company was restructured as a corporate entity. In September 2024, the company held an
IPO that raised approximately ₹1,100 crore. It was subsequently listed on the
Bombay Stock Exchange and the
National Stock Exchange. Following the IPO, the Gadgil family retained a majority ownership stake in the firm. == Operations ==