PNGS Reva Diamond Jewellery Limited is a retail jewellery business, specializing in diamond jewellery set with precious and semi-precious stones in gold and platinum. All its products are marketed under its dedicated brand name “Reva.”
The company offers a diverse range of jewellery catering to various customers, occasions, and price segments, including rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, mangalsutra, nose rings, and chains.
As of September 30, 2025, the company had developed 13 distinct jewellery collections, reflecting its focus on design differentiation and brand positioning.
PNGS Reva follows a blended sourcing model:
- In-house design team responsible for conceptualizing and developing exclusive collections.
- Curated selections from third-party manufacturers and Karigars, enabling scalability and variety.
As of the RHP date, the company operated 34 stores across 25 cities in Maharashtra, Gujarat, and Karnataka, with an aggregate retail display area of 647.15 Running Feet.
The company operates its stores under three formats — FOCO (Franchise Owned, Company Operated), FOFO (Franchise Owned, Franchise Operated), and COCO (Company Owned, Company Operated).
PNGS Reva Diamond Jewellery IPO – Details
| IPO Opening Date | 24 February 2026 |
| IPO Closing Date | 26 February 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 98,44,559 Shares Worth ₹380 Crore Fresh Issue: 98,44,559 Shares Worth ₹380 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹367 – ₹386 per share |
| Market Lot | 32 Shares |
| Min Order | 32 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt. Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
PNGS Reva Diamond Jewellery IPO – Date Schedule
| IPO Open Date | 24 February 2026 |
| IPO Close Date | 26 February 2026 |
| Basis of Allotment | 27 February 2026 |
| Initiation of Refund | 02 March 2026 |
| Credit of Shares to Demat Account | 02 March 2026 |
| IPO Listing Date | 04 March 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 26, 2026 |
PNGS Reva Diamond Jewellery IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 32 | ₹12,352 |
| Retail (Max) | 16 | 512 | ₹1,97,632 |
| S-HNI (Min) | 17 | 544 | ₹2,09,984 |
| S-HNI (Max) | 80 | 2560 | ₹9,88,160 |
| B-HNI (Min) | 81 | 2592 | ₹10,00,512 |
Competitive Strength
- Strong regional presence across Tier-1, Tier-2, and Tier-3 cities in Maharashtra, Gujarat, and Karnataka, supporting operational efficiency and brand trust.
- Experienced Board of Directors with expertise in finance, business, retail, and jewellery, contributing to strategic decision-making and long-term value creation.
- Established brand value and promoter legacy strengthening market position and customer confidence.
- Diversified product portfolio across categories and price points, helping adapt to changing consumer preferences.
- Expertise in customised and high-value bridal jewellery, enhancing revenue potential and brand prestige.
Company Promoters
- P.N. Gadgil & Sons Limited
- Govind Vishwanath Gadgil
- Renu Govind Gadgil
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹199.35 Cr | ₹130.17 Cr | ₹51.75 Cr | – |
| 31 March 2024 | ₹196.24 Cr | ₹139.56 Cr | ₹42.41 Cr | – |
| 31 March 2025 | ₹259.11 Cr | ₹179.90 Cr | ₹59.47 Cr | ₹90.65 Cr |
| 30 September 2025 | ₹157.12 Cr | ₹130.30 Cr | ₹20.13 Cr | ₹130.25 Cr |
Key Performance Indicator
| KPI | Values (Sep 30, 2025) |
|---|---|
| ROE | 18.3% |
| ROCE | 25.2% |
| Debt/Equity | 1.10 |
| RoNW | 16.73% |
| PAT Margin | 12.85% |
| EBITDA Margin | 19.65% |
| Pre IPO | Post IPO | |
| EPS (₹) | 35.21 | |
| P/E (x) | 10.96 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding expenditure towards the setting up of 15 New Stores. | ₹286.56 |
| Marketing and promotional expenses related to the launch of the 15 New Stores, aimed at enhancing local brand awareness and visibility of our flagship brand, “Reva”, in their respective areas. | ₹35.40 |
| General corporate purposes. |
PNGS Reva Diamond Jewellery IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Tribhovandas Bhimji Zaveri Limited | 15.74 |
| 2 | 10 | Thangamayil Jewellery Limited | 80.96 |
| 3 | 10 | Senco Gold Limited | 33.00 |
✅Strengths
- Strong promoter legacy and established brand value.
- Focused diamond jewellery retail brand under “Reva”.
- Diversified store models (FOCO, FOFO, COCO) enabling scalable expansion.
- Presence across Maharashtra, Gujarat, and Karnataka.
- Wide product portfolio with in-house design capabilities.
⚠️Risks
- Dependence on promoter group for infrastructure and business arrangements.
- First-time public issue with no prior market track record.
- Geographic concentration in limited states.
- The jewellery business is sensitive to gold/diamond price fluctuations and consumer demand.
PNGS Reva Diamond Jewellery IPO Promoter Holding
| Pre Issue Share Holding | 87.45% |
| Post Issue Share Holding | 60.30% |
PNGS Reva Diamond Jewellery IPO Prospectus
Company Contact Information
| PNGS Reva Diamond Jewellery Ltd. Abhiruchi Mall, 59/1 C, Sinhgad Road, Wadgaon Budruk, Pune, Maharashtra, 411041 Phone: +91 020-29980704 Email: investor@revabypng.com Website: https://www.revabypng.com/ |
PNGS Reva Diamond Jewellery IPO Registrar
| Bigshare Services Pvt. Ltd. Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
PNGS Reva Diamond Jewellery IPO Lead Manager(s)
| 1. Smart Horizon Capital Advisors Private Limited |
PNGS Reva Diamond Jewellery IPO FAQs
| What is PNGS Reva Diamond Jewellery IPO? PNGS Reva Diamond Jewellery IPO is a main-board IPO. The issue is priced at ₹367 to ₹386 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will PNGS Reva Diamond Jewellery IPO open? The IPO is to open on 24 February 2026 for QIB, NII, and Retail Investors. |
| What is PNGS Reva Diamond Jewellery IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| What is PNGS Reva Diamond Jewellery IPO Size? PNGS Reva Diamond Jewellery IPO size is ₹380 Crore. |
| What is the PNGS Reva Diamond Jewellery IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 32 Shares with ₹12,352, while the maximum bid is 517 Shares with ₹1,97,632. |
| What is the PNGS Reva Diamond Jewellery IPO Allotment Date? PNGS Reva Diamond Jewellery IPO allotment date is 27 February 2026. |
| What is the PNGS Reva Diamond Jewellery IPO Listing Date? PNGS Reva Diamond Jewellery IPO listing date is 04 March 2026. The IPO is to be listed on the BSE and the NSE. |
