Editor’s Note
PNGS Reva Diamond Jewellery has announced a ₹380 crore fresh issue IPO, opening 24-26 February 2026. The offering will be listed on NSE and BSE, with allocation heavily weighted toward institutional investors. Details on pricing and lot size are pending.
PNGS Reva Diamond Jewellery’s IPO will open from 24 to 26 February 2026. This will be a completely fresh issue of ₹380 crore, with no Offer for Sale (OFS) component. The company’s pre-issue share capital is 2,18,66,400 shares with a face value of ₹10 per share. The issue price and lot size are yet to be announced. The IPO will be listed on both NSE and BSE. The share allocation reserves 75% for QIBs, 10% for NIIs (HNIs), and 15% for retail investors. It is noteworthy that the company’s shares are already trading at a premium of ₹10 in the grey market.
As of 30 September 2025, the company operates through a retail network across 33 locations. Its business model is primarily based on the FOCO (Franchisee Owned, Company Operated) and FOFO models, which facilitate rapid expansion. In its product portfolio, Mangalsutras (approximately 21.34%) and Rings (approximately 20.84%) hold the largest share. The company’s gross profit margin is 26.67%, which is considered strong in this segment. Currently, the company has 69 employees on its payroll.
A major portion of the funds raised through the IPO will be used to open 15 new stores, for which approximately ₹286.56 crore will be spent. Additionally, around ₹35.40 crore will be spent on marketing and promotional activities related to the launch of the new stores, to further strengthen the ‘Reva’ brand’s identity in cities and semi-urban areas. The remaining amount will be used for general corporate purposes. The company’s promoters are P. N. Gadgil & Sons Limited, Govind Vishwanath Gadgil, and Renu Govind Gadgil.