More Stories

Informist, Wednesday, Mar. 4, 2026                                      Tel +91 (22) 6985-4000

Equity Alert: PNGS Reva Diamond ends 7% up on debut day post listing at discount

MUMBAI--1610 IST--Shares of PNGS Reva Diamond Jewellery Ltd. closed at INR 411.70 on the National Stock Exchange on the day of their listing, up nearly 7% from the issue price. The stock was listed at INR 375 on the NSE, a discount of almost 3% compared to the issue price of INR 386. At the upper end, the stock rose as much as 15% to a high of INR 433 and almost 5 million shares of the company changed hands on the NSE during the session.

PNGS Reva Diamond Jewellery is a retail-focused jewellery brand that offers a wide range of diamonds, precious and semi-precious stone-studded jewellery. It also retails plain platinum jewellery. For the six months ended September, the company had reported a net profit of INR 201.33 million on revenue of INR 1.57 billion.  (Eshitva Prakash)

IPO Alert: PNGS Reva Diamond to list Wed, issue price set at INR 386

Informist, Monday, Mar. 2, 2026

MUMBAI – Shares of PNGS Reva Diamond Jewellery Ltd. will be listed on the bourses on Wednesday, as per a circular from the BSE. The company has set the issue price at INR 386 per share. The company's initial public offering was subscribed to 1.23 times. 

The offer comprised only a fresh issue of shares worth up to INR 3.80 billion. The proceeds from the IPO would be used as capital expenditure towards setting up 15 new stores at an estimated cost of INR 2.87 billion, as per the red herring prospectus. The company proposed allocating about INR 350 million to marketing and promotional expenses for the launch of the 15 stores and further enhancing the brand's visibility.  

PNGS Reva Diamond Jewellery is a retail-focused jewellery brand that offers a wide range of diamond, precious and semi-precious stone-studded jewellery in precious metals. It also retails plain platinum jewellery. For the six months ended September, the company had reported a net profit of INR 201.33 million on revenue of INR 1.57 billion. (Gopika Balasubramanium)

IPO Alert: PNGS Reva Diamond IPO gets fully subscribed by last day

Informist, Thursday, Feb. 26, 2026

MUMBAI – The initial public offering of PNGS Reva Diamond Jewellery Ltd. finally got full subscription by the last day, after having received a not-very-exciting response from the investors since open. The IPO got subscribed 1.23 times at the end of the third day, with investors bidding for 7.03 million shares against 5.71 million shares on offer. The portion kept aside for non-institutional investors fetched more demand than any other segment. 

The portion reserved for non-institutional investors was subscribed 1.54 times with bids placed for 2.39 million shares against 1.55 million shares kept aside for the segment. The retail investors' portion was subscribed 1.3 times with the company receiving bids for 1.33 million shares against 1.03 million shares reserved for the segment. The portion reserved for qualified institutional buyers was subscribed 1.04 times. They bid for 3.24 million shares against 3.11 million shares on offer for the category. 

The company had raised INR 1.71 billion by issuing 4.42 million shares to anchor investors. The IPO had opened for subscription on Tuesday and the price band was set at INR 367-INR 386. The offer comprises only fresh issue of shares worth up to INR 3.80 billion. The proceeds from the IPO would be used as capital expenditure towards setting up 15 new stores. The estimated cost for this is INR 2.87 billion, as per the red herring prospectus. A little above INR 350 million from the proceeds would be used for marketing and promotional expenses related the launching of the aforementioned 15 stores and further enhancing the brand's visibility.  

PNGS Reva Diamond Jewellery is a retail-focused jewellery brand that offers a wide range of diamond, precious and semi-precious stone-studded jewellery in precious metals. It also retails plain platinum jewellery. For six months ended September, the company had reported net profit of INR 201.33 million on revenue of INR 1.57 billion. (Gopika Balasubramanium)

IPO Alert: Low demand for PNGS Reva Diamond even on Day 2, subscribed 83%

Informist, Wednesday, Feb. 25, 2026

MUMBAI – The initial public offering of PNGS Reva Diamond Jewellery Ltd. received an underwhelming response from the investors with only 83% subscription even at the end of the second day. The company received bids for 4.72 million shares against 5.71 million shares on offer. Portion kept aside for qualified institutional buyers saw the more demand than any other segment. 

The portion reserved for qualified institutional buyers got 96% subscription. They bid for 2.98 million shares out of 3.11 million shares on offer for the category. 

The portion reserved for non-institutional investors got 65% subscription with bids placed for 1.01 million shares against 1.55 million shares kept aside for the segment. The retail investors' portion got 66% subscription with the company receiving bids for 680,384 shares against 1.03 million shares reserved for the segment.

The company had raised INR 1.71 billion by issuing 4.42 million shares to anchor investors. The IPO had opened for subscription on Tuesday and the price band was set at INR 367-INR 386. The offer comprises only fresh issue of shares worth up to INR 3.80 billion. The proceeds from the IPO would be used as capital expenditure towards setting up 15 new stores. The estimated cost for this is INR 2.87 billion, as per the red herring prospectus. A little above INR 350 million from the proceeds would be used for marketing and promotional expenses related the launching of the aforementioned 15 stores and further enhancing the brand's visibility.  

PNGS Reva Diamond Jewellery is a retail-focused jewellery brand that offers a wide range of diamond, precious and semi-precious stone-studded jewellery in precious metals. It also retails plain platinum jewellery. For six months ended September, the company had reported net profit of INR 201.33 million on revenue of INR 1.57 billion. (Gopika Balasubramanium)

IPO Alert: PNGS Reva Diamond issue subscribed nearly 60% on first day

Informist, Tuesday, Feb. 24, 2026

MUMBAI – PNGS Reva Diamond Jewellery Ltd.'s initial public offering was subscribed nearly 60% on the first day with the company receiving bids for 3.4 million shares against 5.7 million shares on offer.

Qualified institutional buyers showed the most interest, placing bids for nearly 3 million shares and almost fully subscribing their portion of the issue. Retail investors subscribed their portion 37%, with bids placed for 386,016 shares against more than 1 million shares on offer. Non-institutional investors showed little interest and placed bids for 108,256 shares against 1.6 million shares reserved for them. 

PNGS Reva Diamond Jewellery is a retail-focused jewellery brand that offers a wide range of diamond, precious and semi-precious stone-studded jewellery in precious metals. It also retails plain platinum jewellery. For six months ended September, the company had reported a net profit of INR 201.33 million on revenue of INR 1.57 billion. (Akash Tirlotkar)

IPO Alert: PNGS Reva Diamond raises INR 1.71 bln from anchor investors

Informist, Tuesday, Feb. 24, 2026

MUMBAI – PNGS Reva Diamond Jewellery Ltd. has raised INR 1.71 billion by issuing 4.42 million shares to anchor investors. The company allocated the shares at INR 386 apiece, the upper end of the price band of INR 367-INR 386 per share. 

Tata India Consumer Fund received the highest portion among anchor investors -- 23.5% of the total allocation for INR 400 million. Of the total allocation, the company allotted 1.19 million shares to two domestic mutual funds applying through four schemes, raising a total of INR 460.01 million. 

The company revised its initial public offering issue size to a fresh issue of shares worth up to INR 3.80 billion from INR 4.50 billion earlier. For Apr-Sept, the company reported a net profit of INR 201.33 million on a revenue of INR 1.57 billion.

PNGS Reva Diamond Jewellery is a retail-focused jewellery brand that offers a wide range of diamond, precious and semi-precious stone-studded jewellery in precious metals. It also retails plain platinum jewellery.  (Simran Rede)

IPO Alert: PNGS Reva Diamond sets price band at INR 367-INR 386 per share

Informist, Tuesday, Feb. 17, 2026

MUMBAI – PNGS Reva Diamond Jewellery Ltd. has set the price band for its initial public offering at INR 367-INR 386 per share. The public offer will open for subscription on Feb. 24 and close on Feb. 26, according to Press Trust of India. The bidding window for anchor investors will open Monday. 

Investors can bid for a minimum of 32 equity shares and in multiples of 32 thereafter. 

PNGS Reva Diamond Jewellery is a retail-focused jewellery brand that offers a wide range of diamond, precious and semi-precious stone-studded jewellery in precious metals. It also retails plain platinum jewellery. For 2024-25 (Apr-Mar), PNGS Reva Diamond Jewellery had reported a net profit of INR 594.74 million on revenue of INR 2.58 billion. For FY24, it reported a net profit of INR 424.14 million on revenue of INR 1.96 billion.  (Simran Rede)

IPO Alert: PNGS Reva Diamond files DRHP with SEBI for INR 4.5 bln fresh issue

Informist, Wednesday, Jun. 18, 2025

MUMBAI – Pune-based jewellery major PNGS Reva Diamond Jewellery Ltd. has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering. The offer is entirely for a fresh issue of shares worth up to INR 4.50 billion. The face value of each share is INR 10. 

PNGS Reva Diamond Jewellery is a retail-focused jewellery brand that offers a wide range of diamond, precious and semi-precious stone-studded jewellery in precious metals. It also retails plain platinum jewellery. The company's products are sold under its flagship brand "Reva", which emphasises craftsmanship, and customer centricity to cater to the tastes of contemporary consumers, offering a blend of daily wear, occasion-led, and natural diamond-studded jewellery. The company plans to expand its footprint to 15 brand-exclusive stores by 2027-28 (Apr-Mar). 

As of Mar. 31, it had 33 stores across 25 cities in Maharashtra, Gujarat and Karnataka, aggregating to an area of 599.15 running feet. Its stores are divided into two categories -- franchise owned and company operated, and franchise owned and franchise operated.

PNGS Reva Diamond Jewellery was formed after its corporate promoter P.N. Gadgil & Sons Ltd. undertook disinvestment via a slump sale of the diamond business. This business transfer agreement in favour of PNGS Reva Diamond Jewellery allowed it to carve out a distinct identity in the market while continuing to operate in the diamond jewellery industry.

For 2024-25 (Apr-Mar), PNGS Reva Diamond Jewellery had reported a net profit of INR 594.74 million on revenue of INR 2.58 billion. For FY24, the company reported a net profit of INR 424.14 million on revenue of INR 1.96 billion, while for FY23 it reported a net profit of INR 517.47 million on revenue of INR 1.99 billion.  

Of the proceeds from the fresh issue, INR 2.87 billion will be utilised for funding expenditure towards the setting up of 15 new stores. The company will use INR 354 million for marketing and promotional expenses related to the launch of the new stores and for general corporate purposes.

The issue is being made through the book-building process, wherein at least 75% of the net issue will be allocated to qualified institutional buyers, not more than 15% of the net issue will be allotted to non-institutional investors and not more than 10% of the issue to be allotted to retail individual investors.

There are some risk factors such as the success of the company's business is closely tied to the strength and reputation of its flagship brand "Reva". However, there is no guarantee that the company will be able to effectively maintain or enhance the awareness and perception of "Reva" brand in the market. Any reputational damage to the brand, name or logo could have an adverse effect on the financial condition, cash flows and results of operations. The company is also dependent on the brand reputation of its corporate promoter, P.N. Gadgil & Sons, and any reputational damage to their brand will also have an impact on its footfall and subsequently on its sales and revenue.

The company's inability to effectively market its products could affect consumer footfall and consequently adversely impact business, financial condition, cash flows and results of operations. Its inability to maintain an optimal level of inventory in the stores may impact operations adversely. The company's ability to introduce new designs and update collections in line with evolving customer preferences is critical to its business success. If they fail to anticipate or respond effectively to changing trends, the business prospects, results of operations, and cash flows could be adversely affected. 

Failure or disruption of the company's information technology systems or enterprise resource planning systems may adversely affect its business, results of operations and financial condition. The revenue is influenced by seasonal trends and any dip in earnings during peak periods could disproportionately affect overall performance, and among others are the risk factors of the company.

Smart Horizon Capital Advisors Pvt. Ltd. is the sole book-running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue. The shares are proposed to be listed on the National Stock Exchange of India Ltd. and BSE Ltd.  (Pooja Sawant)  End

Edited by Avishek Dutta

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.