PNGS Reva Diamond Jewellery Initial Public Offering Opens to Investors, GMP and Subscription Status to be Assessed

PNGS Reva Diamond Jewellery IPO Update

IPO Details

• Issue Period: 24 February 2026 - 26 February 2026
• IPO Size: ₹380 crore through the issuance of fresh share capital
• Price Band: ₹368 - ₹386 per equity share
• Listing: Proposed for listing on the BSE and the NSE
• Listing Date: Expected on 4 March 2026
• Registrar: Bigshare Services Private Limited

Grey Market Premium

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• Grey Market Premium: ₹17 per share
• Listing Gain: Signalling a listing gain of around 4% for potential allottees among total applicants

Financial Profile

• Net Profit: ₹59.5 crore in FY25 (a 40% YoY increase)
• Return on Equity (ROE): ~34%
• Debt-to-Equity Ratio: 0.37
• EPS: ₹18.76 on a post-issue basis (FY25)

Analyst Recommendations

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• Lakshmishree: Advising investors to apply for the mainboard IPO with a "Subscribe" rating
• Marwadi Financial Services: Assigning a "Subscribe" rating to the IPO due to the company's diversified product portfolio, expertise in customised and high-value jewellery, and reasonable valuation considering growth potential.

Key Statistics

• Market Cap: ₹1,224 crore
• P/E Ratio: Approximately ~21x on a post-issue basis
• Peers: Tribhovandas Bhimji Zaveri Limited (P/E ratio: ~7x), Thangamayil Jewellery Limited (P/E ratio: ~47x), and Senco Gold Limited (P/E ratio: ~12x)