PNGS Reva's IPO subscribed 59 pc on day 1

PNGS Reva Diamond Jewellery IPO Sees 59% Subscription on First Day

The initial public offering (IPO) of PNGS Reva Diamond Jewellery received 59 per cent subscription on the first day of share sale on Tuesday, according to data from the National Stock Exchange (NSE).

Key Highlights:

• Subscription Figures: The Rs 380-crore IPO got bids for 33,83,488 shares against 57,06,235 shares on offer.
• Institutional Buyers: The portion for qualified institutional buyers subscribed 92 per cent.
• Retail Investors: The quota for retail individual investors received 37 per cent subscription.
• Non-Institutional Investors: The part for Non-Institutional Investors subscribed 7 per cent.

As of the first day of the IPO, PNGS Reva Diamond Jewellery has raised nearly Rs 171 crore from anchor investors, it said on Monday. The public issue will conclude on February 26, with a price band of Rs 367 to Rs 386 per share.

About PNGS Reva Diamond Jewellery:

PNGS Reva Diamond Jewellery is a Pune-based retail-focused jewellery brand that operates in the diamond jewellery market. The company was created after its promoter, P N Gadgil & Sons Ltd, sold its diamond jewellery business through a slump sale.

• Business Operations: The company is involved in the business of selling a wide range of jewellery.
• Store Network: As of March 31, 2025, the company had 33 stores across 25 cities in Maharashtra, Gujarat, and Karnataka.

Financial Performance:

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. Profit rose by 40 per cent to Rs 59.47 crore.

Future Plans:

The company plans to invest Rs 287 crore to set up 15 new retail stores to expand its business. "We are raising funds to expand our business," the company's CEO Amit Modak told PTI.

The company plans to set up 15 new retail stores with an investment of Rs 286.5 crore, Modak said.