PNGS Reva Diamond Jewellery IPO : GMP, Price, Analysis, And Details

PNGS Reva Diamond Jewellery IPO - Company Analysis

PNGS Reva Diamond Jewellery IPO, a Mainboard IPO, is a bookbuilding issue of Rs. 380 Cr by PNGS Reva Diamond Jewellery Ltd. and is involved in the jewellery business. The firm provides various types of jewellery incorporating diamonds and precious and semi-precious stones, which are set into metals like gold and platinum. All products are sold under the brand name “Reva”.

The firm has a wide assortment such as rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, mangalsutra, nose rings and chains. On 30 September 2025, the firm has 13 distinct jewellery collections, including an in-house design team and curated choices from our third-party manufacturers and Karigars.

The stores are run under the franchise-owned and company-operated (FOCO), franchise-owned and franchise-operated (FOFO), and company-owned and company-operated (COCO) structures.

PNGS Reva Diamond Jewellery IPO Details

The PNGS Reva Diamond Jewellery Ltd IPO open date is from Feb 24 to Feb 26, 2026 with IPO allotment on Feb 27, refund initiation on Mar 02, 2026. The Rs. 380 Cr mainline IPO comprises a wholly fresh issue of 0.98 crore shares.

 

 

The PNGS Reva Diamond Jewellery IPO listing date might be on Wednesday, 04 March 2026, and it will be listed at the BSE and NSE. The PNGS Reva Diamond Jewellery IPO price band is Rs. 367 to Rs. 386 for each Share. 

Events	Date
IPO Opening Date	February 24, 2026
IPO Closing Date	February 26, 2026
IPO Allotment Date	February 27, 2026 (Tentative)
Refund Initiation	March 02, 2026 (Tentative)
Tentative IPO Listing Date	March 04, 2026

 

Industry Outlook

If you want to apply for the IPO, click to open a Demat Account.

Company Financial 

(Amount in Cr)

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	226.84	158.33	123.93
Total Income	259.11	196.24	199.35
Profit After Tax	59.47	42.41	51.75
EBITDA	79.61	56.14	68.73
Net Worth	100.19	-28.50	-52.02
Reserves and Surplus	95.33	-37.64	-60.74
Total Borrowing	90.65	-	-

 

Cash Flows

The cash flows for various activities are shown below:

(Amount in Mn)

Net Cash Flow In Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	390.13	183.65	394.96
Net Cash Flow Investing Activities	(1,594.18)	7.06	4.51
Net Cash Flow Financing Activities	1,732.32	(0.06)	(8.04)

 

Revenue Bifurcation

(Source: RHP)

Click to check the IPO application status.

Listed Peers of PNGS Reva Diamond Jewellery Ltd.

Name of the Company	Face Value (₹ per share)	EPS (₹)	P/E (x)
Tribhovandas Bhimji Zaveri Ltd	10	10.25	15.74
Thangamayil Jewellery Ltd	10	42.00	80.96
Senco Gold Ltd	10	10.09	33

 

Valuation

KPI	Values
ROE	165.9%
ROCE	79.8%
Debt/Equity	0.90
RoNW	59.36%
PAT Margin	23.04%
EBITDA Margin	41.81%
Price to Book Value	-

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 35.21 from the last year, the resulting P/E ratio is 10.96x.

Explore the KSH International IPO.

IPO's Strengths

• Its market position, customer trust, and operational stability are all influenced by its Promoters' legacy and brand value.
• Decision-making and long-term value development are aided by the seasoned Board of Directors' varied experience in retail, business, finance, and jewelry.
• In addition to increasing overall operational efficiency, regional knowledge in Tier-1, Tier-2, and Tier-3 cities in Maharashtra, Gujarat, and Karnataka helps to foster community trust and loyalty, word-of-mouth promotion, and brand recognition in the area.
• The diversity of its product portfolio across price points and categories enables it to keep up with shifting consumer tastes.

 

 

IPO Weaknesses

• High operating expenses for well-established companies.
• Institutional players' price sensitivity as consumers.
• Inadequate quality control in the unofficial market.
• Tough Competition.
• Shifting customer preferences.
  
  

PNGS Reva Diamond Jewellery IPO GMP 

PNGS Reva Diamond Jewellery IPO GMP today is Rs. 35 as of 16 Feb 2026. A price band set at Rs. 386 suggests that the estimated listing price of the IPO could be around Rs. 421, indicating a gain/loss of 9.07%.

PNGS Reva Diamond Jewellery Limited IPO Summary

IPO Opening & Closing Date	Feb 24, 2026 to Feb 26, 2026
Face Value	Rs. 10 per Share
Issue Price	Rs. 367 to Rs. 386
Lot Size	32 Shares
Issue Size	98,44,559 Shares (Rs. 380 Cr)
Listing At	BSE, NSE
Issue Type	Book Built Issue IPO
Registrar	Bigshare Services Pvt. Ltd.

 

PNGS Reva Diamond Jewellery IPO Lot Size

The PNGS Reva Diamond Jewellery Ltd. IPO allows retail investors to invest in a minimum and maximum of 1 Lot (32 Shares) amounting to Rs. 12352 and 16 Lots (512 Shares) amounting to Rs. 197632, respectively, while for S-HNI investors, the minimum Lot is 17 (544 Shares) amounting to Rs. 209984.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	16 Lots
SHNI (Minimum)	17 Lots
SHNI (Maximum)	80 Lots
BHNI (Minimum)	81 Lots

 

PNGS Reva Diamond Jewellery IPO Reservation

Institutional Share Portion	75%
Retail Investors' Share Portion	10%
Non-Institutional Shares Portion	15%

 

PNGS Reva Diamond Jewellery IPO Allotment Status

To check the PNGS Reva Diamond Jewellery IPO allotment status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of PNGS Reva Diamond Jewellery Ltd.

• P.N. Gadgil & Sons Limited
• Govind Vishwanath Gadgil 
• Renu Govind Gadgil.
  
  

Pre-Issue Promoter Shareholding	87.45%
Post-Issue Promoter Shareholding	60.31%

 

PNGS Reva Diamond Jewellery IPO Lead Managers

Smart Horizon Capital Advisors Pvt. Ltd.

Dividend Policy

The company has not paid any dividend during the last three financial years.

 

 

Conclusion

The PNGS Reva Diamond Jewellery IPO looks to be valued at about 11x P/E, but investors should take sector cyclicality and industry competitiveness into account. Positive short-term market optimism is reflected in the current GMP, which suggests a possible listing gain of about 9%. Before applying, long-term investors should assess the company's growth goals, subscriber demand, and the prospects for the jewelry industry as a whole.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We have done our best to provide all the necessary details about the company that you should know before applying for the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company, Click Here to Download the DRHP.

Click Here To Stay Updated With The Upcoming IPOs.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.