Editor’s Note
This article discusses an upcoming mainboard IPO for a lesser-known jewelry company, set against a backdrop of recent investor disappointment with new listings. It highlights the critical question of whether to invest, referencing the concept of Grey Market Premium (GMP) as a gauge of market sentiment. Readers should note that IPO investments carry inherent risks, and this piece serves as a starting point for due diligence, not financial advice.
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New Delhi. Investors have been disappointed by the poor performance of recent IPOs like Aye Finance and Fractal Analytics. They are now waiting for blockbuster IPOs like Meesho and LIC that deliver stellar returns.
Next week, the primary market is set to see the entry of another mainboard IPO. The company is not very famous, so not many people are talking about it. The company’s name itself indicates it is in the jewelry business. PNG Reva Diamond Jewellery is soon going to launch its IPO.
Before knowing whether you should invest or not, let’s look at some basic details related to this IPO.
**Price Band:** Rs 367 to Rs 386
**Lot Size:** 32 Shares
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**Face Value:** Rs 10 per share
**When will it open?** February 24
**When will it close?** February 26
**Fresh Issue:** Rs 380 crore
| Financial Year | Revenue (₹ crore) | Net Profit (₹ crore) |
| :— | :— | :— |
| FY 2025 | ₹258.18 | ₹59.40 |
| FY 2024 | ₹195.63 | ₹42.4 |
| FY 2023 | ₹198.84 | ₹51.7 |
In FY 2024, its revenue and net profit showed a decline. However, in FY 2025, a significant acceleration is being seen. Now let’s come to the most important point: should you invest in it?
PNG Reva Diamond Jewellery’s P/E ratio has been recorded at 20.7. If we compare its P/E with other competitors, its P/E is higher than Propshare Platina and Marushika Tech, but lower than all other given companies. This means the company is at a lower valuation than existing companies in its sector.
