PNGS Reva Diamond Jewellery Limited Announces Maiden IPO
Price band set at ₹367–₹386 per equity share; issue opens on 24th February 2026 and closes on 26th February 2026
POSTED BY:- Poonam S. Juthani
DT:-19/02/2026
9867490397
Mumbai, 16th February 2026 — PNGS Reva Diamond Jewellery Limited, a leading name in the diamond jewellery sector, has announced the launch of its maiden Initial Public Offering (IPO). The company, in consultation with Smart Horizon Capital Advisors Private Limited (formerly Shreni Capital Advisors Private Limited), has fixed the price band at ₹367 to ₹386 per equity share of face value ₹10 each.
The IPO will open for subscription on Tuesday, 24th February 2026, and close on Thursday, 26th February 2026. Investors can bid for a minimum of 32 equity shares and in multiples of 32 thereafter.
Issue Details
The IPO is a fresh issue of up to ₹3,800 million, with the company’s outstanding equity shares standing at 21,866,400 as of the date of the pre‑issue advertisement.
The proceeds from the fresh issue will be utilized as follows:
₹2,865.64 million for funding expenditure towards setting up 15 new stores across key markets.
₹354.00 million for marketing and promotional expenses related to the launch of these stores, aimed at enhancing local brand awareness and visibility of the flagship brand Reva.
The balance will be used for general corporate purposes, strengthening the company’s overall operations and growth strategy.
The issue is being made through the book‑building process, with allocation structured as:
Not less than 75% of the net issue available for Qualified Institutional Buyers (QIBs).
Not more than 15% available for Non‑Institutional Investors (NIIs).
Not more than 10% available for Retail Individual Investors (RIIs).
Financial Performance
PNGS Reva Diamond Jewellery Limited has demonstrated consistent growth in recent years.
For the six months ended 30th September 2025, the company reported revenue from operations of ₹1,567.18 million and a net profit of ₹201.33 million.
For FY25, revenue stood at ₹2,581.83 million, compared to ₹1,988.48 million in FY23, reflecting strong growth.
Net profit for FY25 was ₹594.74 million, up from ₹517.47 million in FY23, underscoring improved profitability and operational efficiency.
These figures highlight the company’s robust financial foundation and its ability to leverage expansion opportunities effectively.
Advisors and Registrars
The IPO is managed by Smart Horizon Capital Advisors Private Limited as the Book Running Lead Manager (BRLM), while Bigshare Services Private Limited is the Registrar to the Issue.
Regulatory Filings and Disclaimers
PNGS Reva Diamond Jewellery Limited has filed its Red Herring Prospectus (RHP) dated 10th February 2026 with the Registrar of Companies, Maharashtra at Pune (RoC).
The RHP is available on:
The SEBI website: www.sebi.gov.in
The BRLM website: www.shcapl.com
The NSE website: www.nseindia.com
The BSE website: www.bseindia.com
The company’s website: www.revabypng.com
Potential investors are advised to carefully review the “Risk Factors” section beginning on page 39 of the RHP before making any investment decisions.
The equity shares offered in the issue have not been and will not be registered under the U.S. Securities Act or any other applicable law of the United States. Accordingly, the shares are being offered and sold outside of the United States in compliance with Regulation S under the U.S. Securities Act and applicable laws of relevant jurisdictions.
Disclaimer from SEBI: Submission of the Draft Red Herring Prospectus (DRHP) to SEBI should not be deemed or construed as clearance or approval by SEBI. Investors are advised to refer to page 367 of the RHP for the full disclaimer clause.
Disclaimer from BSE: The BSE does not warrant or certify the correctness or completeness of the contents of the offer document. Investors are advised to refer to page 369 of the RHP for the full disclaimer clause.
Disclaimer from NSE: Permission given by NSE should not be deemed or construed as clearance or approval of the offer document. Investors are advised to refer to page 370 of the RHP for the full disclaimer clause.
Conclusion
The upcoming IPO of PNGS Reva Diamond Jewellery Limited, opening on 24th February 2026 and closing on 26th February 2026, marks a significant milestone in the company’s growth journey. With a strong financial track record, clear expansion plans, and a commitment to enhancing brand visibility, the company is poised to leverage the capital markets to fuel its next phase of development.
By setting a price band of ₹367–₹386 per equity share, PNGS Reva Diamond Jewellery Limited aims to attract a diverse investor base, offering them an opportunity to participate in the growth of one of India’s promising jewellery brands.
