PNGS Reva Diamond Jewellery to launch Rs 380-cr IPO on Feb 24

New Delhi, Feb 11 (PTI) PNGS Reva Diamond Jewellery is set to launch its Rs 380-crore initial share-sale for public subscription on February 24. The initial public offering (IPO) will conclude on February 26 while the bidding for anchor investors will take place on February 23, according to the red herring prospectus (RHP). The Pune-based company’s IPO is entirely a fresh issue of equity shares with no offer for sale component. Proceeds of the public issue will be used for setting up 15 new stores by fiscal year 2028; marketing and promotional expenses related to the launch of these new stores in a bid to enhance visibility of the flagship brand, “Reva", and general corporate purposes. PNGS Reva Diamond Jewellery was created after its promoter, P N Gadgil & Sons Ltd, sold its diamond jewellery business through a slump sale. This transfer allowed PNGS Reva to become a separate company with its own identity, while still operating in the diamond jewellery market. It is a retail focused jewellery brand involved in the business of sale of a wide range of jewellery. As of March 31, 2025, the company had 33 stores across 25 cities in Maharashtra, Gujarat and Karnataka. On the financial front, PNGS Reva Diamond Jewellery’s revenue from operations grew 32 per cent to Rs 258.18 crore in fiscal year 2025, from Rs 195.63 crore in the preceding fiscal and profit rose by 40 per cent to Rs 59.47 crore. Smart Horizon Capital Advisors is the sole book-running lead manager of the issue. The equity shares are proposed to be listed on the NSE and BSE. PTI SP SP ANU ANU