PNGS Reva Diamond Jewellery launches Rs 380-crore IPO; check price band, lot size & other key details

PNGS Reva Diamond Jewellery has opened its initial public offering (IPO) for subscription on February 24, 2026. The issue, which is entirely a fresh issue, aims to raise Rs 380 crore from the primary market.

The IPO is a book-built issue comprising 0.98 crore equity shares. The subscription window will remain open until February 26, 2026. The allotment of shares is expected to be finalised on February 27, 2026, while the company is slated to list on the BSE and NSE on March 4, 2026.

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PNGS Reva Diamond Jewellery IPO Details

The IPO is a book-built issue comprising entirely fresh issue of 0.98 crore equity shares, aggregating to Rs 380 crore.

Price band: The price band for the IPO has been fixed at Rs 367 to Rs 386 per share, valuing the company at approximately Rs 1,224 crore at the upper end of the price band.

Subscription date: The subscription window will remain open from February 24 to February 26, 2026.

Allotment date: The allotment of shares is expected to be finalised on February 27, 2026.

Listing date: The company is scheduled to list on the BSE and NSE, with a tentative listing date of March 4, 2026.

Lot size: Investors can apply in a lot size of 32 shares. At the upper price band of Rs 386 per share, the minimum investment required for retail investors stands at Rs 12,352.

Smart Horizon Capital Advisors Pvt Ltd is acting as the book-running lead manager to the issue, while Bigshare Services Pvt Ltd has been appointed as the registrar.

The IPO has reserved 75 per cent, 15 per cent and 10 per cent of the net offer for the QIB, NII and retail investor categories, respectively.

How PNGS Reva Diamond plans to utilise the IPO proceeds?

PNGS Reva Diamond Jewellery plans to utilise the net proceeds from its Rs 380 crore IPO towards expansion and brand-building initiatives.

The company has allocated most of its IPO revenue for financing the costs of opening 15 new retail locations.

The store launch funding will cover marketing expenses, which help build local brand recognition while increasing visibility for the main brand "Reva" in each target market.

The remaining funds will be used for general corporate purposes.

About PNGS Reva Diamond Jewellery

Incorporated in 2004, PNGS Reva Diamond Jewellery operates in the jewellery segment, offering a diverse portfolio of diamond-studded ornaments crafted using precious and semi-precious stones. These are set in precious metals such as gold and platinum and marketed under the brand name “Reva”.

The company’s product portfolio includes rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, mangalsutra, nose rings, and chains, catering to a wide range of customer preferences and occasions.

The company operates 34 stores throughout 25 cities located in Maharashtra, Gujarat and Karnataka. These stores together provide 647.15 running feet of retail space according to the Red Herring Prospectus (RHP) document.

With the IPO now open, investors will be closely watching subscription trends and market response ahead of its proposed listing in early March.