New Delhi, February 16 PNGS Reva Diamond Jewellery has fixed a price band of ₹367 to ₹386 for its ₹380-crore initial public offering (IPO).
The initial share sale will open for public subscription on February 24 and conclude on February 26, while bidding for anchor investors will take place on February 23, according to the company statement.
The IPO of the Pune-based company is entirely a fresh issue of equity shares with no offer for sale component.
The proceeds from the public issue will be used to set up 15 new stores by fiscal year 2028; 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 ₹258.18 crore in fiscal year 2025, from ₹195.63 crore in the preceding fiscal, and profit rose by 40 per cent to ₹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.
