PNGS Reva Diamond Jewellery IPO Set to Open on February 24: Key Details for Investors

PNGS Reva Diamond Jewellery IPO Details

IPO Overview

PNGS Reva Diamond Jewellery's initial public offering (IPO) will open for public subscription on February 24 and conclude on February 26, with the bidding for anchor investors taking place on February 23.

IPO Details

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• Price Band: Rs 367 to Rs 386 per share
• Issue Size: Rs 380 crore
• Issue Type: Fresh issue of equity shares with no offer for sale component

IPO Objective

The proceeds from the public issue will be used to:

• Set up 15 new stores by fiscal year 2028
• Enhance visibility of the flagship brand, "Reva", through marketing and promotional expenses
• General corporate purposes

Company Overview

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PNGS Reva Diamond Jewellery 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.

Financial Performance

• Revenue from operations grew 32% to Rs 258.18 crore in fiscal year 2025, from Rs 195.63 crore in the preceding fiscal
• Profit rose by 40% to Rs 59.47 crore

Grey Market Premium (GMP)

The shares of PNGS Reva Diamond Jewellery are commanding a GMP of up to 5%, with Investorgain quoting a GMP of Rs 12, indicating a listing gain of 3.11%.

Analyst Rating

Analysts at SBI Securities have assigned a Neutral rating to the issue, citing a structurally differentiated opportunity within India's organized diamond jewellery retail segment.

Valuation

At the upper price band of Rs 386, the issue is valued at a P/E multiple of 20.6x based on post-issue capital.

Allotment and Listing Details

• Allotment Date: February 27
• Listing Date: March 4