PNGS Reva Diamond Jewellery IPO Opens Today: Check Day 1 Subscription Status, GMP, Issue Size, Price Band, Key Dates

The Pune-based PNGS Reva Diamond Jewellery's initial public offering (IPO) opened for public subscription on February 24. The issue will be available for bidding until February 26.

PNGS Reva Diamond Jewellery Limited was demerged from PN Gadgil & Sons in January 2025.

The diamond jewellery seller was originally set up as a partnership firm under the name Gadgil Metals and Commodities in Pune. Later, it was converted into a public limited company and incorporated on December 20, 2024.

Subsequently, PN Gadgil & Sons transferred its diamond business to the newly incorporated entity through a slump sale under a Business Transfer Agreement dated January 31, 2025, after which the company began operating as a retail diamond jewellery player.

PNGS Reva Diamond Jewellery IPO Details: Issue Size, Price Band

The company seeks to raise Rs 380 crore through entirely a fresh issue of 9.84 million shares.

The price band has been fixed at Rs 367-386 per share and investors can place their bids in lot size of 32 equity shares. At the upper price band, retail investors are required to invest Rs 12,352 to bid for one lot.

The allotment of shares is expected to be finalised on February 27, and shares are set to list on both the stock exchanges on March 4.

Smart Horizon Capital Advisors is the book running lead manager and Bigshare Services is acting as the registrar.

PNGS Reva Diamond Jewellery IPO Objectives

PNGS Reva Diamond Jewellery is set to use the net proceeds to fund expansion and strengthen its brand presence.

The company plans to allocate Rs 286.56 crore to set up 15 new stores. It will spend another Rs 35.40 crore on marketing and promotional activities to support these launches and enhance local visibility of its flagship brand, ‘Reva’.

The company will use the remaining funds for general corporate purposes.