PNGS Reva Diamond Jewellery IPO Day 1 LIVE: PNGS Reva Diamond Jewellery’s initial public offering (IPO) kicked off for bidding on Tuesday, February 24. The offer is available for bidding till Thursday, February 26. Ahead of the offer launch on Monday, the company announced that it has raised nearly ₹171 crore from anchor investors.
According to a circular on the BSE website, foreign and domestic institutional investors participating in the anchor round included Citigroup Global Markets Mauritius, Societe Generale, Tata Mutual Fund, Groww Mutual Fund, SageOne Investments, Tiger Strategies Fund I, and Innovative Vision Fund, among others.
PNGS Reva Diamond Jewellery IPO details
PNGS Reva Diamond Jewellery IPO, valued at ₹380 crore, is entirely a fresh issue of equity shares with no offer-for-sale component. The price band has been set at ₹367 to ₹386 per share.
The Pune-based retailer plans to use the proceeds to establish 15 new stores by FY2028, fund marketing and promotional activities for its flagship brand “Reva,” and meet general corporate expenses.
PNGS Reva Diamond Jewellery was formed after its promoter, P N Gadgil & Sons Ltd, transferred its diamond jewellery business through a slump sale, enabling the brand to operate as an independent entity in the diamond jewellery segment.
The company focuses on retail sales of a broad range of diamond jewellery and does not engage in exports. As of March 31, 2025, it operated 33 stores across 25 cities in Maharashtra, Gujarat, and Karnataka.
Financially, the company reported a 32 per cent rise in revenue from operations to ₹258.18 crore in FY2025, up from ₹195.63 crore in the previous fiscal. Net profit increased 40 per cent to ₹59.47 crore.
Smart Horizon Capital Advisors is the sole book-running lead manager for the issue. The equity shares are proposed to be listed on both the National Stock Exchange of India and the BSE.
PNGS Reva Diamond Jewellery IPO GMP
PNGS Reva Diamond Jewellery IPO GMP today is ₹9. This is the lowest GMP for the offer in 14 sessions. According to the latest GMP, PNGS Reva Diamond Jewellery IPO listing price could be ₹395, signalling a listing gain of just 2%.
Track this space for LIVE updates on PNGS Reva Diamond Jewellery IPO.
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