PNGS Reva Diamond Jewellery IPO Date, Price, GMP, Review, Details

Price	₹367 - ₹386
GMP Rumors *	₹-20
Lot size	32
Issue size	₹380.00 cr
Allotment	Feb 27, 2026
Listing	Mar 4, 2026

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P/E Ratio

Exchange	Listing Price	Gain/Loss	%
NSE	₹375.00	-₹11.00	-2.85%

PNGS Reva Diamond Jewellery Subscription

Last updated on 26-Feb-2026 17:11:02

Category	Offered	Applied	Times
QIBs	2956719	3242304	1.1
HNIs	1475184	2388224	1.62
HNIs 10+	983456	1677888	1.71
HNIs 2+	491728	710336	1.44
Retail	983456	1330400	1.35
Employees	10000	70848	7.08
Total	5425359	7031776	1.3

Application-Wise Breakup (Approx. no. of Apps)
Category	Reserved	Applied	Times
HNIs (10L+)	1808	257	0.14
HNIs (2-10L)	904	1224	1.35
Retail	30733	31301	1.02
Employee	-	1191	-
Total Applications: 33973
© IPO Premium

Subscription Demand (in ₹ crore)
Category	Offered	Demand	Times
QIBs	114.13	125.15	1.1
FIIs	-	40	-
DIIs	-	0	-
Mutual funds	-	5	-
Others	-	80.16	-
HNIs	56.94	92.19	1.62
HNIs 10+	37.96	64.77	1.71
HNIs 2+	18.98	27.42	1.44
Retail	37.96	51.35	1.35
Employees	0.39	2.73	7.08
Total	209.42	271.43	1.3

QIB Interest Cost per share (7 Days)
@7% ₹0.6	@8% ₹0.7	@9% ₹0.7	@10% ₹0.8	@11% ₹0.9	@12% ₹1

PNGS Reva Diamond Jewellery Lot(s) Distribution

Category	Lot(s)	Qty	Amount	Reserved
Retail	1	32	12352	30733
sHNI	17	544	209984	904
bHNI	81	2592	1000512	1808

PNGS Reva Diamond Jewellery Reservation

Category	Shares Offered	%
Anchor	4419200	44.89%
QIB	2956719	30.03%
HNI	1475184	14.98%
Retail	983456	9.99%
Employee	10000	0.1%
Total	9844559	100%

PNGS Reva Diamond Jewellery About

IPO Details

Total Issue Size	98,44,559 shares (aggregating up to ₹380 Cr)
Fresh Issue	98,44,559 shares (aggregating up to ₹380 Cr)
Face Value	₹10/- Per Share
Issue Type	Bookbuilding IPO
Listing At	NSE,BSE
Share Holding Pre Issue	2,18,66,400 Equity Shares
Share Holding Post Issue	3,17,10,959 Equity Shares

Key Performance Indicators (KPI)

KPI	Sep-25	Mar-25	Mar-24	Mar-23
RONW	16.73%	59.36%	-148.84%	-99.48%
EPS (BASIC)	9.24	35.21
P/E Pre IPO		10.96

Company Financial (In ₹Crore)

Period Ended	Sep-25	Mar-25	Mar-24	Mar-23
Assets	352.7	226.84	158.33	123.93
Total Income	157.12	259.11	196.24	199.35
Profit After Tax	20.13	59.47	42.41	51.75
EBITDA	30.79	79.61	56.14	68.73
NET Worth	120.31	100.19	-28.5	-52.02
Reserves and Surplus	98.44	95.33	-37.64	-60.74
Total Borrowing	130.25	90.65

Peer Comparision (Valuation)

Company	P/E (x)	CMP*(₹)	Face value (₹)
PNGS Reva Diamond Jewellery Ltd.	10.96	-	10.00
Tribhovandas Bhimji Zaveri Limited	15.74	161.30	10.00
Thangamayil Jewellery Limited	80.96	3400.20	10.00
Senco Gold Limited	33.00	332.75	10.00

Source: RHP,P/E Ratio for the peer group has been computed based on the closing market price of equity shares on NSE as on February 6, 2026, divided by the diluted EPS for Fiscal 2025

Peer Comparision (Financial Performance)

Company	NAV/Share (₹)	RoNW (%)	EPS (Basic) (₹)
PNGS Reva Diamond Jewellery Ltd.	45.82	59.36	35.21
Tribhovandas Bhimji Zaveri Limited	98.49	10.41	10.25
Thangamayil Jewellery Limited	390.03	10.77	42.00
Senco Gold Limited	120.37	8.09	10.09

About Company

Incorporated in 2004, P N Gadgil & Sons Limited (PNGS) is engaged in the retail sale of diamond and precious stone-studded jewellery, crafted in hallmarked gold and platinum.

The company offers a wide portfolio of diamond rings, earrings, bracelets, pendants, and necklace sets, combining traditional craftsmanship with modern aesthetics.

In February 2025, PNGS launched its diamond-focused sub-brand “Reva”, targeting the affordable luxury segment, with prices starting from ₹10,000 and promotional offers such as waived making charges.

As of March 31, 2025, the company operated 33 stores across 25 cities in Maharashtra, Gujarat, and Karnataka, covering 599.15 running feet of retail space.

IPO proceeds are proposed to be utilised for:

Setting up 15 new stores (₹286.56 Cr)

Marketing and promotional activities for the expansion and “Reva” brand (₹35.40 Cr)

General corporate purposes

Strength

Strong Brand Legacy and Promoter Backing: The “Reva” brand benefits from the legacy, industry expertise, and relationships of its Promoters, originally associated with P. N. Gadgil & Sons Limited. This heritage strengthens brand recognition, customer trust, and operational stability while blending traditional craftsmanship with modern design.

Regional Expertise in Western India: Presence across Tier-1, Tier-2, and Tier-3 cities in Maharashtra, Gujarat, and Karnataka enhances market understanding and operational efficiency. Deep insights into regional preferences and seasonal demand (weddings, festivals) support optimized inventory and strong festive sales.

Diversified Product Portfolio Across Price Points: A wide range of jewellery designs across categories and price segments (starting around ₹20,000) enables the Company to cater to weddings, festive occasions, and daily wear. This diversity reduces concentration risk and helps adapt to evolving consumer preferences.

Weakness

Brand Reputation Risk – “Reva”: The Company’s growth depends heavily on the strength and perception of the “Reva” brand. Any inability to maintain brand awareness or any reputational damage to its name or logo may adversely impact customer trust, sales, cash flows, and financial performance.

Dependence on Corporate Promoter Brand (PNGS): The Company operates primarily under a shop-in-shop model within stores of P. N. Gadgil & Sons Limited (PNGS) and leverages its brand legacy. Any reputational damage to PNGS may reduce store footfall and negatively affect sales and revenue.

Rising Competition from Lab-Grown Diamonds (LGDs): Increasing consumer preference for cost-effective and sustainable lab-grown diamonds may reduce demand for natural diamonds and gemstones. Growing availability and acceptance of LGDs could impact pricing power, sales, and market share.

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PNGS Reva Diamond Jewellery Latest Announcements

Date	Subject	Attachment Text	Pdf

*Source NSE/BSE

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PNGS Reva Diamond Jewellery Financial Results

*Source NSE/BSE

PNGS Reva Diamond Jewellery Lead Manager(s)

Smart Horizon Capital Advisors Private Limited

PNGS Reva Diamond Jewellery Address

PNGS Reva Diamond Jewellery Ltd.
Address
Abhiruchi Mall,
59/1 C,
Sinhgad Road, Wadgaon Budruk,
Pune, Maharashtra, 411041
+91 020-29980704
E-mail: investor@revabypng.com
Website: https://www.revabypng.com/

PNGS Reva Diamond Jewellery Registrar

Bigshare Services Pvt Ltd

Phone: +912262638200

Email: investor@bigshareonline.com

Website: https://ipo.bigshareonline.com/IPO_Status.html

Address: Bigshare Services Pvt Ltd 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis,Makwana Road, Marol, Andheri(E), Mumbai - 400 059

PNGS Reva Diamond Jewellery Reviewers

Reviewer	Recommendation	File
Marwadi Shares and Finance Ltd	Apply
Lakshmishree Investment & Securities Ltd	Apply
Adroit Financial Services Private Limited	Apply
Swastika Investmart Ltd	Avoid
SBICAP Securities Limited	Not Rated
Axis Capital Limited	Not Rated

PNGS Reva Diamond Jewellery Ltd. (Mainboard)