PNGS Reva Diamond Jewellery IPO opens Feb 24: Check price band, lot size and key dates

PNGS Reva Diamond Jewellery IPO: Diamond jewellery maker PNGS Reva Diamond Jewellery's initial public offering will open for subscription on February 24. The issue will conclude on February 26.

The price band has been fixed at ₹367 to ₹386 per share. The bidding for anchor investors would occur on February 23.

The IPO will be entirely a fresh issuance of shares aggregating up to ₹380 crore, without an offer for sale (OFS) component, according to the red herring prospectus (RHP).

The fresh issue proceeds will be used for the following objectives:

• Fund expenditure towards establishing 15 new brand-exclusive domestic stores with a focus on targeting Tier-1 cities and selectively exploring Tier-2 cities in Maharashtra and other metro cities across the country.
• Marketing and promotional requirements related to the launch of 15 new stores, aimed at enhancing brand awareness and visibility of the flagship brand "Reva" in their respective areas.
• Corporate general purposes

"In addition to the objects, our Company also expects to receive the benefits of listing of the equity shares on the stock exchanges, including enhancement of our Company’s brand name and creation of a public market for our equity shares in India," the firm said.

PNGS Reva Diamond Jewellery IPO: Lot size

An investor can apply for a minimum of 32 shares and in multiples thereafter.

The company will reserve 75% of the net offer for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 10% for retail investors.

PNGS Reva Diamond Jewellery IPO: Allotment and listing date

The company's shares will be listed on the BSE (formerly the Bombay Stock Exchange) and the National Stock Exchange (NSE).

Smart Horizon Capital Advisors is the issue's book-running lead manager, while Bigshare Services serves as the registrar.

About PNGS Reva Diamond Jewellery

PNGS Reva Diamond Jewellery is a retail-focused jewellery brand engaged in the sale of an array of jewellery made using diamonds and precious stones which are studded in gold and platinum. It also retails plain platinum jewellery, including chains, bracelets and rings. It sells products under the brand "Reva".

As of March 2025, it had 33 stores in 25 cities in Maharashtra, Karnataka and Gujarat, aggregating to an area of 599.15 running feet. The company's stores are divided into two categories: franchise-owned and company-operated (FOCO) and franchise-owned and franchise-operated (FOFO).