Editor’s Note
The PNGS Reva Diamond Jewellery IPO subscription window is open from February 24 to 26, with allotment on February 27 and listing scheduled for March 4 on BSE and NSE.
The subscription for the PNGS Reva Diamond Jewellery IPO is available from February 24. The issue will remain open for subscription from February 24 to 26. The share allotment will be finalized on February 27. The company’s shares will be listed on BSE and NSE on March 4.
This IPO is a book-built issue worth ₹380 crore. The company is issuing approximately 98 lakh fresh shares.
The price band for this IPO is ₹367-386 per share. The lot size is 32 shares per application. The minimum investment amount for retail investors is ₹12,352.
According to market analysts, the PNGS Reva Diamond Jewellery IPO GMP in the unlisted market is ₹9, which is 2.3 percent higher than the cap price.
The company has reserved 75 percent of shares for the QIB category, 10 percent for the retail category, and 15 percent for the NII category.
Established in 2004, PNGS Reva Diamond Jewellery is a well-known company active in the jewelry business, selling its products under the “Reva” brand name. The company prepares ornaments studded with diamonds, precious and semi-precious stones, which are set in precious metals like gold and platinum.
Its product portfolio includes many options such as rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, mangalsutras, nose rings, and chains, catering to the needs of different customers and occasions. As of September 30, 2025, the company had 13 distinct jewelry collections. It has an in-house design team and also offers curated designs prepared in collaboration with third-party manufacturers and artisans.
In the financial year 2024, the company’s total income was ₹196.24 crore, which increased to ₹259.11 crore in FY 2025. The company also showed strength on the profit front. The profit after tax in FY 2024 was ₹42.41 crore, which increased to ₹59.47 crore in FY 2025.
Talking about EBITDA, it was ₹56.14 crore in FY 2024, which increased to ₹79.61 crore the very next year.
As of the period ended September 30, 2025, total assets are ₹352.70 crore, net worth is ₹120.31 crore, and reserves and surplus are ₹98.44 crore. As of the same period, the company’s total borrowing is ₹130.25 crore.
In the current financial year, as of the period ended September 30, 2025, the company’s revenue was ₹157.12 crore and profit after tax was ₹20.13 crore.
The company plans to use the net proceeds from this IPO to advance its expansion and brand strengthening strategy. Under the proposed plan, the largest portion will be spent on establishing 15 new stores. Approximately ₹286.56 crore has been allocated for this expansion plan.
Around ₹35.40 crore is planned to be spent to enhance the brand’s local identity and the visibility of the flagship brand “Reva”. The remaining amount will be used for general corporate purposes, which may include operational needs, administrative expenses, and other business activities.
Smart Horizon Capital Advisors Private Limited is the book running lead manager for this issue.
Bigshare Services Private Limited is the registrar for this issue.