PNGS Reva Diamond Jewellery Shines With IPO Plans

PNGS Reva Diamond Jewellery has filed initial paperwork with the Securities and Exchange Board of India (Sebi) to raise Rs 450 crore through an initial public offering (IPO).

The Pune-headquartered company's IPO comprises a fresh issue of equity shares, as per the draft red herring prospectus submitted on Tuesday.

The IPO proceeds are intended to fund the establishment of 15 new stores by FY 2028, allocate Rs 35.40 crore for marketing efforts to boost the Reva brand, and serve other corporate needs.

PNGS Reva was established after its parent company, P N Gadgil & Sons Ltd, offloaded its diamond jewellery division. The entity, now independent, continues to operate within the diamond jewellery sector.

Focusing on retail jewellery sales, PNGS Reva Diamond Jewellery operates 33 stores in Maharashtra, Gujarat, and Karnataka as of March 31, 2025.

Financially, the company's revenue surged by 32 percent to Rs 258.18 crore in FY 2025, with profits soaring 40 percent to Rs 59.47 crore.

Smart Horizon Capital Advisors is leading the issue, which aims to list shares on NSE and BSE.

(With inputs from agencies.)