New Delhi, February 11 PNGS Reva Diamond Jewellery is set to launch its Rs 380-crore initial public offering on February 24.
The IPO will conclude on February 26, according to the red herring prospectus (RHP), while bidding for anchor investors will take place on February 23.
The IPO is entirely a fresh issue of equity shares, with no offer for sale component.
The proceeds from the public offering will be used to set up 15 new stores by fiscal year 2028; for marketing and promotional expenses related to the launch of these new stores, in order to enhance the visibility of the flagship brand, "Reva", and for general corporate purposes.
PNGS Reva Diamond Jewellery was created after its promoter, P N Gadgil & Sons Ltd, sold its diamond jewellery business through a slump sale. This transfer allowed PNGS Reva to become a separate company with its own identity, while still operating in the diamond jewellery market. It is a retail-focused jewellery brand involved in the business of selling a wide range of jewellery.
As of March 31, 2025, the company had 33 stores across 25 cities in Maharashtra, Gujarat, and Karnataka.
On the financial front, PNGS Reva Diamond Jewellery's revenue from operations grew by 32 per cent to Rs 258.18 crore in fiscal year 2025, from Rs 195.63 crore in the previous fiscal, and profit rose by 40 per cent to Rs 59.47 crore.
Smart Horizon Capital Advisors is the sole book-running lead manager of the issue. The equity shares are proposed to be listed on the NSE and BSE.
