PNGS Reva Diamond Jewellery IPO Update

Key Figures:

• ₹171 crore: Amount raised from anchor investors
• ₹386: Price per equity share allocated to anchor investors
• ₹380 crore: Initial public offering (IPO) size
• ₹367-₹386: Price band for IPO
• ₹258.18 crore: Revenue from operations in fiscal year 2025
• ₹59.47 crore: Profit in fiscal year 2025

IPO Details:

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PNGS Reva Diamond Jewellery has raised ₹171 crore from anchor investors ahead of its IPO opening on February 24, 2024. The company has allocated 44,19,200 equity shares to anchor investors at ₹386 apiece. The IPO will conclude on February 26, 2024, with a price band of ₹367-₹386 per share.

Business Expansion:

The company plans to invest ₹287 crore to set up 15 new retail stores to expand its business. Out of 15 new stores, around 60% will be in Maharashtra. The company focuses only on domestic sales and does not export diamond jewellery. Promoters have an 87% stake in the company, which will come down to around 60% post-IPO.

Financial Performance:

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PNGS Reva Diamond Jewellery's revenue from operations grew 32% to ₹258.18 crore in fiscal year 2025, from ₹195.63 crore in the preceding fiscal. Profit rose by 40% to ₹59.47 crore. The company has 33 stores across 25 cities in Maharashtra, Gujarat, and Karnataka as of March 31, 2025.

Issue Details:

The equity shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Smart Horizon Capital Advisors is the sole book-running lead manager of the issue. The IPO is entirely a fresh issue of equity shares with no offer for sale component.