PNGS Reva Diamond Jewellery shares see subdued listing on NSE, BSE—Here's what to know

PNGS Reva Diamond Jewellery shares listed at Rs 375 apiece as against the issue price of Rs 386, registering a discount of 2.85 per cent on debut on the NSE. On the BSE as well, the stock opened at Rs 372, down around 3.63 per cent from the issue price.

PNGS Reva Diamond Jewellery IPO subscription highlights

Overall, the IPO received bids for 70.31 lakh shares against an offer of 57.06 crore shares, resulting in a 1.23 times the overall subscription.

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Category-wise subscription details are:

• Qualified Institutional Buyers (QIBs) booked 1.04 times, with 32.42 lakh shares bid against 31.09 lakh shares.
• Non-Institutional Investors (NIIs) subscribed 1.54 times, with 23.88 lakh shares bid against 15.51 lakh reserved.
• Retail Individual Investors (RIIs) booked 1.29 times with 13.30 lakh shares bid against 10.34 lakh shares allotted.

PNGS Reva Diamond Jewellery IPO details

The IPO was 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 was 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 remained open from February 24 to February 26, 2026.

Lot size: Investors could 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 stood at Rs 12,352.

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

The IPO had 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.