PNGS Reva Diamond Jewellery IPO is a bookbuilt issue of Rs 380.00 crore. This issue is entirely a fresh issue of 0.98 crore shares with no offer for sale.
The IPO opens for subscription on February 24, 2026, and closes on February 26, 2026. The allotment is expected to be finalized on Friday, February 27, 2025. The price band for the IPO is set at ₹367 to ₹386 per share, and the minimum lot size for an application is 32 shares.
Company Summary
Incorporated in 2004, PNGS Reva Diamond Jewellery is engaged in the jewellery business. The company offers different types of jewellery made using diamonds and precious and semi-precious stones, which are studded into precious metals such as gold and platinum. All products are offered under the brand name “Reva”.
The company offers a wide range of products, including rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, mangalsutra, nose rings, and chains to cater to diverse customer segments and occasions. As of September 30, 2025, it has 13 distinct jewellery collections, includes in-house design team and curated selections from our third-party manufacturers and Karigars.
As on the date of RHP, the company had 34 Stores across 25 cities in the states of Maharashtra, Gujarat, and Karnataka, aggregating across an area of 647.15 Running Feet.
Its stores are operated under Franchise owned and company operated (FOCO), franchise owned and franchise operated (“FOFO”), and company owned and company operated (“COCO”) models.
Company Strengths
- The brand value and the legacy of our Promoters contribute to our market position, customer trust, and operational stability.
- The experienced Board of Directors provides diverse expertise across finance, business, retail, and jewellery, which contributes to decision-making and long-term value creation.
- Regional expertise across Tier-1, Tier-2, and Tier-3 cities in Maharashtra, Gujarat, and Karnataka contributes to overall operational efficiency while also building community trust and loyalty, word-of-mouth advocacy, and brand reputation in the region.
- A diversified product portfolio across categories and price points helps us to stay ahead of changing consumer preferences
Company Financials
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 352.7 | 226.84 | 158.33 | 123.93 |
| Total Income | 157.12 | 259.11 | 196.24 | 199.35 |
| Profit After Tax | 20.13 | 59.47 | 42.41 | 51.75 |
| EBITDA | 30.79 | 79.61 | 56.14 | 68.73 |
| Net Worth | 120.31 | 100.19 | -28.5 | -52.02 |
| Reserves and Surplus | 98.44 | 95.33 | -37.64 | -60.74 |
| Total Borrowing | 130.25 | 90.65 | – | – |
| Amount in ₹ Crore | ||||
Objectives of IPO
- Funding expenditure towards the setting up of 15 New Stores
- Marketing and promotional expenses related to the launch of the 15 New Stores, aimed at enhancing local brand awareness and visibility of the flagship brand, “Reva”, in their respective areas
- General corporate purposes
Promoters of the company
P.N. Gadgil & Sons Limited, Govind Vishwanath Gadgil and Renu Govind Gadgil are the promoters of the company.
IPO Details
IPO Date | February 24, 2026, to February 26, 2026 |
Listing Date | March 04, 2026 |
Face Value | ₹10 per share |
Price Band | ₹367 to ₹386 per share |
Lot size | 32 shares |
Total Issue size | 98,44,559 shares (aggregating upto ₹380.00 Cr ) |
Issue type | Bookbuilding IPO |
Listing at | NSE, BSE |
Share Holding Pre Issue | 2,18,66,400 shares |
Share Holding Post Issue | 3,17,10,959 shares |
Category Reservation Table
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
| Only RII | Upto Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Upto Rs 5 lakhs | Yes |
| Employee + RII/NII | 1. Employee limit: Upto 5 lakhs (In certain cases, employees are given a discount if the bidding amount is upto Rs 2 Lakhs) 2. If applying as RII: Upto Rs 2 Lakhs 3. If applying as NII: sNII > Rs 2 Lakhs and upto Rs 10 Lakhs, and bNII > Rs 10 lakhs | Yes for Employee and RII/NII |
Lot Allocation Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 32 | ₹12,352.00 |
| Retail (Max) | 16 | 512 | ₹1,97,632.00 |
| S-HNI (Min) | 17 | 544 | ₹2,09,984.00 |
| S-HNI (Max) | 80 | 2,560 | ₹9,88,160.00 |
| B-HNI (Min) | 81 | 2,592 | ₹10,00,512.00 |
Allotment Schedule
| Basis of Allotment | Fri, 27 Feb, 2026 |
| Initiation of Refunds | Mon, 2 Mar, 2026 |
| Credit of Shares to Demat | Mon, 2 Mar, 2026 |
| Tentative Listing Date | Wed, 4 Mar, 2026 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75% of the Issue |
| Retail Shares Offered | Not more than 10% of the Issue |
| NII Shares Offered | Not more than 15% of the Issue |
Source – SEBI, Chittorgarh
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