PNGS Reva Diamond Jewellery IPO: 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, Key Dates
PNGS Reva Diamond Jewellery seeks to raise Rs 380 crore throughits book-built IPO, which is comprised entirely of 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, NSE and BSE, 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.
PNGS Reva Diamond Jewellery IPO Subscription Status: Day 1
PNGS Reva Diamond Jewellery has reserved not less than 75 per cent of the net issue for Qualified Institutional Buyers (QIBs). Retail investors will receive not more than 10 per cent of the net issue, while Non-Institutional Investors (NIIs) have been allocated up to 15 per cent of the offering.
As of 11:00 AM on Day 1, PNGS Reva Diamond Jewellery IPO was subscribed by 3 per cent overall.
Retail investors led the subscription, bidding for 15 per cent of their quota, followed by NIIs, which placed bids for 1 per cent of their reserved portion, while QIB portion remained unsubscribed so far.
PNGS Reva Diamond Jewellery IPO GMP Today
The grey market premium (GMP) of PNGS Reva Diamond Jewellery IPO shares stood at Rs 9 per share over the issue price. PNGS Reva Diamond Jewellery IPO GMP slipped over 57 per cent from a peak of Rs 21 quoted on February 18 to the current level.
Given the current GMP and the upper end of the issue price, Rs 386, PNGS Reva Diamond Jewellery shares are expected to list at Rs 395 per share. This translates into a GMP percentage of 2.33 per cent.
PNGS Reva Diamond Jewellery Financial Performance
PNGS Reva Diamond Jewellery's revenue increased to Rs 259.11 crore in FY25 from Rs 196.24 crore in FY24. It posted a revenue of Rs 157.12 crore for the six months ended September 30, 2025.
The jeweller's profit after tax (PAT) came in at Rs 59.47 crore in FY25, up from Rs 42.41 crore a year earlier. For the first half of FY26, it posted a PAT of Rs 20.13 crore.
The company improved its Ebitda to Rs 79.61 crore in FY25 from Rs 56.14 crore in FY24. It reported Ebitda of Rs 30.79 crore for the six-month period ended September 2025.
As of September 30, 2025, the company held total assets of Rs 352.70 crore. It reported a net worth of Rs 120.31 crore and reserves and surplus of Rs 98.44 crore. It had a net debt of Rs 130.25 crore at the end of the period.
PNGS Reva Diamond Jewellery: Company Profile
PNGS Reva Diamond Jewellery operates in the diamond jewellery segment under the brand name ‘Reva’. The company sells jewellery studded with diamonds and precious and semi-precious stones set in gold and platinum.
Its product portfolio includes rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, mangalsutras, nose rings and chains.
As on the date of filing the red herring prospectus (RHP), the jeweller operated 34 stores across 25 cities in Maharashtra, Gujarat and Karnataka, with a total retail frontage of 647.15 running feet. It runs stores under franchise-owned company-operated (FOCO), franchise-owned franchise-operated (FOFO) and company-owned company-operated (COCO) models.
