- Issue price
- ₹386per share
- Issue size
- ₹379.52 Cr98,32,000 shares
- Face value
- ₹10per equity share
- Lot size
- 32 sharesMin. ₹12,352 at the upper price
- Anchor biddingMon, 2026
- OpensTue, 2026
- ClosesThu, 2026
- AllotmentFri, 2026
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 98,32,000 shares (₹379.52 Cr)
- Offer for sale
- None
- Total issue
- 98,32,000 shares (₹379.52 Cr)
- Face value
- ₹10
- Listing at
- NSE, BSE
Source: ProspectusUpdated
Reservation
Share of the total issue- Anchor44.9%
- QIB ex-anchor30.2%
- NII14.8%
- Retail9.9%
- Employees0.1%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 9,77,216 | 9.94% | 10% |
| Non-institutional investors (NII) | 14,56,000 | 14.81% | 15% |
| Qualified institutional buyers (QIB) | 73,88,800 | 75.15% | 75% |
| QIB, excluding anchor | 29,69,600 | 30.20% | — |
| Anchor investors | 44,19,200 | 44.95% | — |
| Employees | 9,984 | 0.10% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹386 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 32 | ₹12,352 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025 (post bonus)- EPS (basic)
- ₹35.21
- EPS (diluted)
- ₹35.21
- P/E (FY 2025 at floor price ₹367)
- 10.42×
- P/E (FY 2025 at cap price ₹386)
- 10.96×
- RoNW (FY 2025 (including capital reserve))
- 59.36%
- NAV per share (As on September 30, 2025 (including capital reserve))
- ₹55.02
- Debt to equity (Six-months period ended September 30, 2025)
- 0.49
- EBITDA margin (FY 2025)
- 30.83%
- PAT margin (FY 2025)
- 23.04%
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 30 Sep 20256 months | 31 Mar 2025FY 2025 | 31 Mar 2024FY 2024 | 31 Mar 2023FY 2023 |
|---|---|---|---|---|
| Revenue from operations | 156.72 | 258.18 | 195.63 | 198.85 |
| Total income | 157.12 | 259.11 | 196.24 | 199.35 |
| EBITDA | 30.79 | 79.61 | 56.14 | 68.73 |
| Profit after tax | 20.13 | 59.47 | 42.41 | 51.75 |
| Net worth | 266.45 | 246.34 | 102.65 | 60.19 |
| Total assets | 352.70 | 226.84 | 158.33 | 123.93 |
| Total borrowing | 130.25 | 90.65 | — | — |
FY 2025 vs FY 2024: revenue +32.0%, profit after tax +40.2%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
The company retails diamond and precious-stone jewellery, mainly under its flagship brand 'Reva', in gold and platinum settings. It operates stores mainly as shop-in-shop counters and franchise outlets inside stores of its corporate promoter, with one company-run brand-exclusive store. It took over the diamond business of its corporate promoter through a slump sale in 2025.
- Incorporated
- 2024
- Industry
- Jewellery Retail
- CIN
- U32111PN2024PLC236494
- Website
- revabypng.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Govind Vishwanath Gadgil | 31.90% | — |
| Renu Govind Gadgil | 31.90% | — |
| P. N. Gadgil & Sons Limited | 19.24% | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Funding setup of 15 new brand-exclusive stores | 286.56 |
| Marketing and promotion for launch of the 15 new stores | 35.40 |
| General corporate purposes | 27.16 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| PNGS Reva Diamond Jewellery LimitedIssuer | ₹35.21 | — | 59.36% | ₹45.82 |
| Tribhovandas Bhimji Zaveri Limited | ₹10.25 | 14.42× | 10.41% | ₹98.49 |
| Thangamayil Jewellery Limited | ₹42 | 93.07× | 10.77% | ₹390.03 |
| Senco Gold Limited | ₹10.09 | 31.34× | 8.09% | ₹120.37 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- The 'Reva' brand is the company's flagship, supported by a promoter group with a long history in jewellery.
- The company runs 34 stores across 25 cities in Maharashtra, Gujarat and Karnataka.
- Profit after tax was ₹594.74 million in FY 2025 with a 23.04% margin.
- The promoters and board members have long experience in the jewellery trade.
- The company plans to open 15 new brand-exclusive stores with issue proceeds.
Risks
- About 97% of revenue comes from stores in Maharashtra, so regional problems could hurt results.
- Revenue depends heavily on the 'Reva' brand's reputation and on a few high-revenue stores.
- Most stores operate under franchise or shop-in-shop arrangements with the corporate promoter, which is a related party.
- The financial track record is reconstructed from the promoter's diamond business and is not an independent operating history.
- Inventory of ₹3,130.65 million and borrowings of ₹1,302.49 million at September 30, 2025 create working capital and funding exposure.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹386) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Pngs Reva Diamond Jewellery IPO open and close?
According to the Prospectus, the issue opens on Tuesday, 24 February 2026 and closes on Thursday, 26 February 2026.
What is the Pngs Reva Diamond Jewellery IPO price band?
The final issue price is ₹386 per share.
What is the lot size of the Pngs Reva Diamond Jewellery IPO?
One lot is 32 shares, which is ₹12,352 at ₹386 per share.
Where will Pngs Reva Diamond Jewellery shares list?
On NSE and BSE. The tentative listing date is Wednesday, 4 March 2026.
Who is the registrar of the issue?
Bigshare Services Private Limited (SEBI registration INR000001385). Allotment status is checked on the registrar's website.
How do I check the Pngs Reva Diamond Jewellery IPO allotment status?
The basis of allotment is expected to be finalised on Friday, 27 February 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (Bigshare Services Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹286.56 Cr for funding setup of 15 new brand-exclusive stores, ₹35.4 Cr for marketing and promotion for launch of the 15 new stores, ₹27.16 Cr for general corporate purposes.
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Spotted something wrong?
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