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PNGS Reva Diamond Jewellery Ltd
MainboardListed
Open:Tue, 24 Feb 2026
Close:Thu, 26 Feb 2026
Lot Size:32 Shares
Price Band:₹ 367 - ₹ 386
Listing:NSE, BSE
Fresh Issue:380.00 Cr
OFS:-
Total IPO Size:380.00 Cr
QIB : 75.00%
Retail : 10.00%
Total HNI : 15.00%

EventDate
Open Date24-02-2026 , Tuesday
Close Date26-02-2026 , Thursday
Tentative Allotment27-02-2026 , Friday
Tentative Listing Date04-03-2026 , Wednesday
Retail Appl. Cut Off Time26-02-2026 , Thursday 05:00 PM
Non Retail Appl. Cut Off Time26-02-2026 , Thursday 04:00 PM
Anchor Allotment23-02-2026 , Monday
Initiation Of Refund02-03-2026 , Monday
Credit Of Share To Demat02-03-2026 , Monday

IPO Business Overview

PNGS Reva Diamond Jewellery Limited IPO: Business Overview, Model, Financials and IPORupee Insight

PNGS Reva Diamond Jewellery Limited is a retail-focused jewellery brand selling diamond jewellery, precious and semi-precious stone-studded jewellery, and plain platinum jewellery under its flagship brand “Reva”. The company operates mainly through shop-in-shop stores within the retail network of its Corporate Promoter, P. N. Gadgil & Sons Limited.

Company Overview

PNGS Reva Diamond Jewellery Limited is engaged in the sale of a wide range of jewellery made using diamonds and precious or semi-precious stones studded into precious metals such as gold and platinum. The company also retails plain platinum jewellery including rings, bracelets and chains.

The products are sold under the flagship brand “Reva”. The brand is positioned as a design-led jewellery brand that combines traditional elegance with modern aesthetics. Its product offering is focused on natural diamond-studded jewellery and contemporary designs across different price points and customer occasions.

The company became an independent business entity after P. N. Gadgil & Sons Limited transferred its diamond jewellery business to the company through a Business Transfer Agreement dated January 31, 2025. The Reva brand continues to benefit from the legacy and customer trust associated with P. N. Gadgil & Sons Limited, which has a long-standing presence in the jewellery industry.

Brand Name Reva
Business Type Retail-focused diamond and platinum jewellery brand
Store Network 34 stores across 25 cities
States Covered Maharashtra, Gujarat and Karnataka
Store Area 647.15 running feet
Employees 69 permanent employees as of September 30, 2025

Full Forms Used

Short Form Full Form Meaning for Investors
FOCO Franchise Owned, Company Operated The retail space is owned or leased by the franchisee or promoter group, but the store operations are managed by the company.
FOFO Franchise Owned, Franchise Operated The franchisee owns or leases the store space and also operates the store. The company may provide brand, product and operational guidance.
COCO Company Owned, Company Operated The company owns and operates the store directly, giving it higher control over store experience, staff and operations.
COGS Cost of Goods Sold The direct cost of jewellery sold by the company. Lower COGS as a percentage of sales can support better gross profit.
PAT Profit After Tax Final profit remaining after all expenses and taxes.
ROE Return on Equity Shows how efficiently the company generates profit on shareholders’ equity.
Running Feet Store counter-length measurement A retail measurement used to track store sales area and revenue productivity.

Business Transfer from P. N. Gadgil & Sons Limited

The company’s diamond jewellery business was transferred from its Corporate Promoter, P. N. Gadgil & Sons Limited, through a slump sale arrangement. Under the Business Transfer Agreement, inventory and gratuity liability related to the diamond business were transferred to PNGS Reva Diamond Jewellery Limited.

Particulars Amount in Rs. million
Inventory related to Diamond Jewellery Business 1,627.67
Gratuity liability related to employees of Diamond Business 4.67
Net Value of Assets and Liabilities Transferred 1,623.01
Investor understanding: This is an important point because the business is newly structured as a separate listed entity, but the underlying diamond jewellery business has been carved out from an established jewellery group. Investors should understand both the benefit of promoter legacy and the dependency risk on the promoter’s infrastructure.

Store Network and Operating Model

As of the Red Herring Prospectus date, PNGS Reva Diamond Jewellery Limited operates 34 stores across 25 cities in Maharashtra, Gujarat and Karnataka. Out of these, 33 stores are in a shop-in-shop format within stores operated by P. N. Gadgil & Sons Limited, while one store is a brand-exclusive store under the COCO model.

The company uses three store models: FOCO, FOFO and COCO. The FOCO model is the key revenue contributor, where the retail space is owned or leased by the Corporate Promoter but the operations and customer experience are managed by the company.

Store Model Revenue from Operations COGS Gross Profit Gross Profit Margin
FOCO Rs. 1,429.32 million Rs. 1,048.78 million Rs. 380.54 million 26.62%
FOFO Rs. 134.40 million Rs. 97.92 million Rs. 36.48 million 27.14%
COCO Rs. 3.46 million Rs. 2.54 million Rs. 0.92 million 26.67%
Total Rs. 1,567.18 million Rs. 1,149.23 million Rs. 417.95 million 26.67%

Note: COCO business commenced on September 4, 2025; therefore, COCO revenue data is disclosed only till September 30, 2025.

IPORupee Insight on Store Model

The company currently depends heavily on the FOCO and shop-in-shop structure. This helps reduce upfront capital expenditure because the company can use the established retail infrastructure and customer footfall of P. N. Gadgil & Sons Limited. However, this also means that the company’s independent brand identity and operating flexibility may remain linked to the Corporate Promoter’s store network.

The proposed opening of 15 new brand-exclusive stores under the IPO objects is important because it may help Reva build its own independent retail identity over time. Retail investors should watch how successfully the company scales these new stores after listing.

Product Portfolio

The company offers diamond-studded jewellery, precious and semi-precious stone-studded jewellery, and plain platinum jewellery. Its product categories include rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, mangalsutra, nose pins and chains.

Rings Bangles Bracelets Chains Nose Pins Pendants Earrings Necklaces Mangalsutra Plain Platinum Jewellery

The company has curated 13 distinct jewellery collections as of September 30, 2025. It uses a dual design approach comprising original creations from its in-house design team and curated selections from third-party manufacturers and karigars.

Collections in Fiscal 2025 4 new collections launched
Collections in Fiscal 2024 6 new collections launched
Collections in Fiscal 2023 3 new collections launched

Revenue by Product Category

The company generated Rs. 1,567.18 million revenue from operations in the six-month period ended September 30, 2025. Ornaments, including diamond-studded jewellery with precious stones, contributed 99.75% of total income during the period.

Product Category Six-month period ended September 30, 2025 % of Revenue Fiscal 2025 % of Revenue
Precious Stones Rs. 64.78 million 4.13% Rs. 162.10 million 6.28%
Rings Rs. 326.57 million 20.84% Rs. 616.15 million 23.86%
Bangles Rs. 44.50 million 2.84% Rs. 94.77 million 3.67%
Bracelet Rs. 53.24 million 3.40% Rs. 104.53 million 4.05%
Pendant Rs. 17.82 million 1.14% Rs. 38.16 million 1.48%
Earring Rs. 191.62 million 12.23% Rs. 357.05 million 13.83%
Necklace Rs. 87.49 million 5.58% Rs. 141.56 million 5.48%
Mangalsutra Rs. 334.37 million 21.34% Rs. 582.98 million 22.58%
Gold Rs. 221.34 million 14.12% Not applicable Not applicable
Total Rs. 1,567.18 million 100.00% Rs. 2,581.83 million 100.00%
Product mix insight: Rings and mangalsutra are among the major contributors. This indicates that the company is not dependent only on one occasional jewellery product. However, the overall business still remains heavily linked to diamond-studded jewellery demand and customer preference for natural diamonds.

Geographical Revenue Concentration

PNGS Reva Diamond Jewellery Limited has a very high revenue concentration in Maharashtra. For the six-month period ended September 30, 2025, Maharashtra contributed 97.54% of revenue from operations.

State Six-month period ended September 30, 2025 % of Revenue Fiscal 2025 % of Revenue
Maharashtra Rs. 1,528.70 million 97.54% Rs. 2,503.83 million 96.97%
Gujarat Rs. 14.22 million 0.91% Rs. 51.00 million 1.98%
Karnataka Rs. 24.26 million 1.55% Rs. 26.99 million 1.05%
Total Rs. 1,567.18 million 100.00% Rs. 2,581.83 million 100.00%
Key risk for investors: The company’s business is highly concentrated in Maharashtra. Any slowdown, local disruption, store-level issue, competitive pressure, or decline in customer footfall in Maharashtra can materially affect the company’s revenue and profitability.

Financial Performance

The company reported revenue from operations of Rs. 1,567.18 million for the six-month period ended September 30, 2025 and Rs. 2,581.83 million in Fiscal 2025. Profit after tax stood at Rs. 201.33 million for the six-month period ended September 30, 2025 and Rs. 594.74 million in Fiscal 2025.

Particulars Six-month period ended September 30, 2025 Fiscal 2025 Fiscal 2024 Fiscal 2023
Revenue from Operations Rs. 1,567.18 million Rs. 2,581.83 million Rs. 1,956.34 million Rs. 1,988.48 million
Adjusted EBITDA Rs. 307.92 million Rs. 796.11 million Rs. 561.39 million Rs. 687.31 million
Adjusted EBITDA Margin 19.65% 30.83% 28.70% 34.56%
Profit After Tax Rs. 201.33 million Rs. 594.74 million Rs. 424.14 million Rs. 517.47 million
PAT Margin 12.85% 23.04% 21.68% 26.02%
Total Debt Rs. 1,302.49 million Rs. 906.50 million Not applicable Not applicable
Debt-to-Equity Ratio 0.49 0.37 Not applicable Not applicable
Current Ratio 1.50 1.79 0.84 13.71
Return on Equity 7.85% 34.08% 52.09% 149.14%

IPORupee Financial Insight

The company has shown strong profitability in Fiscal 2025, with PAT margin of 23.04%. However, the six-month period ended September 30, 2025 shows lower PAT margin of 12.85%, which investors should monitor carefully. Jewellery retail can be seasonal, and festive sales can influence yearly performance.

Total debt increased to Rs. 1,302.49 million as of September 30, 2025. Since jewellery retail requires high inventory investment, working capital management will be an important factor after IPO. Retail investors should track whether the company can expand stores without putting excessive pressure on debt and cash flows.

Operational Parameters

Particulars Six-month period ended September 30, 2025 Fiscal 2025 Fiscal 2024 Fiscal 2023
Revenue from Operations Rs. 1,567.18 million Rs. 2,581.83 million Rs. 1,956.34 million Rs. 1,988.48 million
Shop Sales Area 647.15 running feet 599.15 running feet 528.15 running feet 480.32 running feet
Revenue per Running Feet 2.42 4.31 3.70 4.14
Advertising and Sales Promotion Expense Rs. 1.11 million Rs. 14.21 million Rs. 14.32 million Rs. 14.69 million
Advertising Expense as % of Revenue 0.07% 0.55% 0.73% 0.74%
Operating insight: The company has increased shop sales area over the years, but revenue per running feet has fluctuated. The success of new stores will depend not only on opening more stores but also on improving store productivity, customer conversion and average billing value.

Employees

As of September 30, 2025, the company had 69 permanent employees. Sales is the largest functional area with 47 employees, indicating the company’s retail-sales-led business model.

Functional Area Number of Employees
Chief Executive Officer 1
Legal 1
Finance 3
Human Resources 1
Marketing 2
Sales 47
Procurement 10
Designers 2
Administration 1
Information Technology 1
Total 69

Key Strengths

Established Promoter Legacy The company benefits from association with P. N. Gadgil & Sons Limited, a well-known jewellery group with a long operating history.
Design-led Brand Reva focuses on modern diamond jewellery designs across multiple price points and occasions.
Asset-light Store Model The FOCO and shop-in-shop model allows the company to use existing retail infrastructure and customer footfall.
Strong Maharashtra Presence The company has a meaningful presence in Maharashtra, which is currently its core revenue market.
Wide Product Range Products include rings, mangalsutra, earrings, necklaces, bracelets, bangles, pendants and chains.
Brand-exclusive Expansion Plan The IPO proceeds are proposed to be used for setting up 15 new brand-exclusive stores.

Key Risk Triggers

  • High geographical concentration: Maharashtra contributes more than 96% of revenue in recent periods.
  • Dependence on Corporate Promoter: Most stores operate within P. N. Gadgil & Sons Limited’s retail network.
  • Natural diamond demand risk: Lab-grown diamonds and synthetic alternatives may affect future demand and pricing.
  • Inventory-heavy business: Jewellery retail requires significant working capital and inventory management.
  • New store execution risk: The company plans to open 15 new stores, and success depends on location, footfall, staffing, marketing and customer conversion.
  • Supplier dependency: The company depends on third-party manufacturing partners and karigars for finished jewellery.
  • Seasonality: Jewellery demand can be affected by festivals, weddings and special occasions.

Objects of the IPO

The IPO is a fresh issue aggregating up to Rs. 3,800 million. The company proposes to use the net proceeds mainly for store expansion and marketing.

Object Estimated Amount
Funding expenditure towards setting up 15 new stores Rs. 2,865.64 million
Marketing and promotional expenses for launch of 15 new stores Rs. 354.00 million
General corporate purposes To be finalised
IPORupee view: The IPO proceeds are growth-focused. The most important monitorable after listing will be whether the new stores can generate healthy revenue per running feet and whether the company can reduce dependence on shop-in-shop stores over time.

IPORupee Review and Insight

Business Quality View

PNGS Reva Diamond Jewellery Limited is a niche jewellery retail company focused on diamond and platinum jewellery. Its biggest advantage is the connection with P. N. Gadgil & Sons Limited, which gives the company immediate brand support, store infrastructure and access to customer footfall. This gives Reva a strong starting platform compared with a completely new jewellery brand.

At the same time, this is also the company’s biggest dependency. Most of the current stores operate through the Corporate Promoter’s retail network. Therefore, the company’s journey as an independent brand will be tested through the proposed 15 new brand-exclusive stores.

Financial View

The company reported good profitability in Fiscal 2025, but six-month profitability is lower compared with full-year Fiscal 2025 margins. Since jewellery businesses are seasonal, investors should compare full-year performance rather than relying only on half-year numbers.

Growth View

Growth will mainly come from new store expansion, better store productivity, stronger brand recall for Reva and increased customer acceptance of diamond-studded jewellery. The company operates in a segment where customer trust, design freshness, certification, pricing transparency and store experience matter significantly.

Key Monitorables for Retail Investors

  • Performance of the 15 new brand-exclusive stores after IPO.
  • Reduction in Maharashtra revenue concentration over time.
  • Ability to maintain margins despite gold and diamond price volatility.
  • Working capital and debt movement after expansion.
  • Customer acceptance of Reva as an independent brand, beyond the promoter’s legacy.
  • Impact of lab-grown diamonds on natural diamond jewellery demand.
Important IPORupee Note: This review is only for educational understanding of the company’s business model, strengths, financials and risks. It is not a buy, sell, apply or avoid recommendation. Investors should read the RHP, risk factors, valuation, peer comparison and consult their financial advisor before making any IPO decision.

Short Disclaimer

The information provided above is prepared for educational and informational purposes only based on publicly available IPO documents and details shared from the Red Herring Prospectus. IPORupee does not provide investment advice, stock recommendations, buy/sell/apply/avoid calls, or guaranteed views on listing gains. IPO investment involves market risk, business risk, valuation risk and liquidity risk. Investors should read the complete RHP, including risk factors, financial statements, objects of the issue and basis for issue price, and consult a qualified financial advisor before making any investment decision.


Subscription Data

CategorySize
(In Cr)
Subscribed
(In Cr)
No of Times
(x)
QIB114.13125.151.10
bNII (Above 10L)37.9664.771.71
sNII (2L to 10L)18.9827.421.44
NII Total56.9492.191.62
Retail37.9651.301.35
Employee0.392.737.08
Total209.42271.371.30

CategoryPercentageNo. of Shares OfferedAmount
QIB
75.00 %
73,75,920
284.71 Cr
Retail
10.00 %
9,83,455
37.96 Cr
Total HNI
15.00 %
14,75,184
56.94 Cr
SHNI
5.00 %
4,91,728
18.98 Cr
BHNI
10.00 %
9,83,456
37.96 Cr
Employee
0.00 %
10,000
0.39 Cr

PNGS Reva Diamond Jewellery Ltd allotted 44,19,200 equity shares to anchor investors at ₹386 per share on 23 Feb 2026 before the IPO opening. The total anchor allocation stood at 170.58 Cr across 16 anchor investors.

Mutual funds received 11,91,744 shares worth 46.00 Cr, representing 26.97% of the total anchor investor allocation. Within the mutual fund portion, Tata Mutual Fund had the highest fund-house level allocation with 10,36,288 shares worth 40.00 Cr across 1 scheme. Other leading fund houses by allocation included Groww Mutual Fund.

At scheme level, the largest mutual fund allocations included TATA INDIA CONSUMER FUND, GROWW MUTUAL FUND - GROWW MULTI CAP FUND, GROWW MUTUAL FUND - GROWW SMALL CAP FUND and GROWW MUTUAL FUND - LARGE CAP FUND.

The largest anchor investor received 23.45% of the anchor portion. The top five anchor investors together received 30,97,920 shares, representing about 70.10% of the total anchor allocation.

Top 5 Anchor Investors

RankAnchor Investor NameShares AllocatedAllocation %Allocation Amount
1TATA INDIA CONSUMER FUND10,36,28823.45 %40.00 Cr
2TIGER STRATEGIES FUND-I6,21,92014.07 %24.01 Cr
3SAGEONE - FLAGSHIP GROWTH OE FUND5,18,14411.72 %20.00 Cr
4SOCIETE GENERALE4,66,33610.55 %18.00 Cr
5ASTORNE CAPITAL VCC-ARVEN4,55,23210.30 %17.57 Cr

Top 4 Mutual Fund Scheme Investors

RankMutual Fund SchemeAMCShares AllocatedAllocation %Allocation Amount
1TATA INDIA CONSUMER FUNDTata Mutual Fund10,36,28823.45 %40.00 Cr
2GROWW MUTUAL FUND - GROWW MULTI CAP FUNDGroww Mutual Fund85,5041.93 %3.30 Cr
3GROWW MUTUAL FUND - GROWW SMALL CAP FUNDGroww Mutual Fund46,6241.06 %1.80 Cr
4GROWW MUTUAL FUND - LARGE CAP FUNDGroww Mutual Fund23,3280.53 %0.90 Cr

The figures are based on the company’s stock exchange anchor allotment intimation. Anchor allocation is only an informational disclosure and does not indicate future listing performance.


ApplicationDiscountQty (Lot)Total
Retail MIN
-
32 (1)
₹ 12,352
Retail MAX
-
512 (16)
₹ 1,97,632
SHNI MIN
-
544 (17)
₹ 2,09,984
SHNI MAX
-
2560 (80)
₹ 9,88,160
BHNI MIN
-
2592 (81)
₹ 10,00,512
Employee MIN
-
32 (1)
₹ 12,352
Employee MAX
-
1280 (40)
₹ 4,94,080

Profit & Loss (Values In Crore)


Particulars
30 Sep, 2025
31 Mar, 2025
31 Mar, 2024
31 Mar, 2023
Revenue from
operations
156.72
258.18
195.63
198.85
Other income
0.40
0.92
0.60
0.50
Total Income
157.12
259.11
196.24
199.35
Total Expenses
130.30
179.90
139.56
130.17
Profit Before Tax
26.82
79.21
56.68
69.18
Tax
6.69
19.74
14.26
17.43
Net Profit
20.13
59.47
42.41
51.75
Basic EPS In Rs.
9.21
35.21
-
-
Diluted EPS In Rs.
9.21
35.21
-
-

Balance Sheet (Values In Crore)


Particulars
30 Sep, 2025
31 Mar, 2025
31 Mar, 2024
31 Mar, 2023
Property, plant and
equipment
0.73
0.21
-
-
Investment property
-
-
0.49
0.50
Right-of-use assets
2.38
0.26
-
-
Other intangible
assets
0.32
0.30
-
-
Other financial
assets
2.75
-
0.34
6.33
Deferred tax asset
(net)
0.39
0.14
0.10
0.08
Other non-current
assets
0.15
0.02
-
-
Total non-current
assets
6.72
0.92
0.93
6.90
Inventories
313.07
179.42
148.96
114.90
Investments
-
-
0.91
1.04
Trade receivables
1.19
0.16
-
-
Cash & cash
equivalents
14.75
39.02
1.20
1.07
Other financial
assets
3.02
0.39
6.33
0.02
Other current assets
13.96
6.93
6.93
-
Total current assets
345.98
225.91
157.40
117.02
Total assets
352.70
226.84
158.33
123.93
Equity Share Capital
21.87
4.86
9.14
8.73
Other equity
98.44
95.33
-37.64
-60.74
Total equity
120.31
100.19
-28.50
-52.02
Lease liabilities
1.89
0.20
-
-
Other financial
liabilities
-
-
-
167.10
Provisions
0.58
0.47
0.39
0.31
Total non-current
liabilities
2.47
0.68
0.39
167.41
Borrowings
130.25
90.65
-
-
Lease liabilities
0.66
0.06
-
-
Trade payables
87.66
32.48
19.15
8.27
Other financial
liabilities
0.96
0.04
167.24
0.23
Other current
liabilities
7.24
1.68
-
-
Provisions
0.26
0.03
0.01
0.01
Current tax
liabilities (net)
2.89
1.03
0.03
0.03
Total current
liabilities
229.93
125.97
186.43
8.53
Total liabilities
232.39
126.64
186.82
175.94
Total equity and
liabilities
352.70
226.84
158.33
123.93

Cash Flow Statement (Values In Crore)


Particulars
30 Sep, 2025
31 Mar, 2025
31 Mar, 2024
31 Mar, 2023
Cash Flow From
Operating Activities
-54.671
39.013
18.365
39.496
Cash Flow From
Investing Activities
-5.374
-159.418
0.706
0.451
Cash Flow From
Financing Activities
35.775
173.232
-0.006
39.143
Net Cash Flow
24.27
52.826
19.065
39.143

ObjectiveNo Of SharesAmount
Fresh Issue
-
380.00 Cr

DocumentAction
DRHPView
RHPView
Anchor AllotmentView

#TitlePublished Date
1PNGS Reva Diamond Jewellery IPO: Date, Price Band, Lot Size, Financials & Full Review22-02-2026 , Sunday

IPO Contact Details
Registered Office
Abhiruchi Mall, 59/1 C, Sinhgad Road, Wadgaon Budruk, Pune – 411041, Maharashtra, India
Corporate Office
Abhiruchi Mall, 59/1 C, Sinhgad Road, Wadgaon Budruk, Pune – 411041, Maharashtra, India
Contact Person
Kirti Suryakant Vaidya - Company Secretary and Compliance Officer
Registrar to Issue Details
Registrar Name
Bigshare Services Private Limited
Contact Person
Babu Rapheal C.

Lead Managers

NameContact PersonTelephoneEmailWebsite
Smart Horizon Capital Advisors
Private Limited
Parth Shah
+91 22 2870682
pngreva@shcapl.com
www.shcapl.com
IPO Details

PNGS Reva Diamond Jewellery Ltd IPO Details FAQs

Understand company details, IPO size, price band, lot size, exchange listing, fresh issue and Offer for Sale (OFS) in simple language for retail investors.

Which company's IPO is this?

This IPO is of PNGS Reva Diamond Jewellery Ltd. The issue is scheduled to open on Tuesday, 24 February 2026 and closes on Thursday, 26 February 2026.

After the IPO process is completed, the shares are proposed to be listed on both NSE and BSE.

What is the IPO size?

IPO size means the total amount the company plans to raise through the public issue.

For PNGS Reva Diamond Jewellery Ltd IPO, the total issue size is Rs 380 crore, consisting of a fresh issue of Rs 380 crore.

What is the price band or issue price?

Price band is the price range within which investors can bid for shares in a book-built IPO.

For this IPO, the lower price band is Rs 367 per share and the upper price band is Rs 386 per share.

What is the lot size?

Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.

For PNGS Reva Diamond Jewellery Ltd IPO, the minimum lot size is 32 shares. At the upper price band of Rs 386 per share, the minimum application amount is Rs 12,352. Applications must be made in multiples of 32 shares.

What is Fresh Issue in this IPO?

Fresh Issue means the company issues new shares to investors and receives money from that part of the IPO.

For PNGS Reva Diamond Jewellery Ltd IPO, the Fresh Issue size is Rs 380 crore. The company can use these funds for purposes mentioned in the IPO documents, such as business growth, repayment of borrowings, working capital, capital expenditure, or general corporate purposes.

IPO Timeline

PNGS Reva Diamond Jewellery Ltd IPO Timeline FAQs

Understand the important IPO dates, allotment process, refund schedule and listing timeline in a retail-friendly format.

What is the IPO opening date?

The IPO opening date is the first day on which investors can apply for the public issue.

For PNGS Reva Diamond Jewellery Ltd IPO, the IPO opens on Tuesday, 24 February 2026.

What is the IPO closing date?

The IPO closing date is the last day on which investors can submit, modify, or cancel their IPO applications.

PNGS Reva Diamond Jewellery Ltd IPO closes on Thursday, 26 February 2026.

When is the tentative allotment date?

The tentative allotment date is the expected date on which the registrar finalizes the share allotment for valid IPO applications.

For PNGS Reva Diamond Jewellery Ltd IPO, the tentative allotment date is Friday, 27 February 2026.

When is the tentative listing date?

The tentative listing date is the expected date on which IPO shares begin trading on the stock exchanges.

PNGS Reva Diamond Jewellery Ltd IPO is expected to list on Wednesday, 04 March 2026.

When do refunds and demat credit happen?

After allotment, funds are unblocked or refunds are initiated for non-allotted investors, while allotted shares are credited to investors' demat accounts before listing.

For PNGS Reva Diamond Jewellery Ltd IPO, refund initiation is expected on Monday, 02 March 2026, and credit of shares to demat accounts is expected on Monday, 02 March 2026.

IPO Structure

PNGS Reva Diamond Jewellery Ltd IPO Structure FAQs

Understand IPO category-wise reservation, QIB quota, retail quota, HNI allocation, shareholder reservation and the meaning of structure columns in a simple format.

What is the IPO structure?

IPO structure shows how shares are divided among different categories of investors, such as QIB, Retail, NII/HNI, Employees, and Shareholders.

For PNGS Reva Diamond Jewellery Ltd IPO, the available categories in the structure table include QIB, Retail, Non-Institutional Investors (NII/HNI), Employees. The NII/HNI category includes SHNI and BHNI sub-categories. Investors can use this table to understand category-wise allocation before applying.

What is the QIB category?

QIB stands for Qualified Institutional Buyers. This category includes mutual funds, banks, insurance companies, and other large financial institutions.

In PNGS Reva Diamond Jewellery Ltd IPO, 75% shares are reserved under the QIB category, with 73,75,920 shares offered, and an allocation amount of ₹284.71 crore.

What is the Retail category?

The Retail category is reserved for individual investors and HUFs applying for up to Rs 2 lakh within the retail investment limit allowed under IPO rules.

In PNGS Reva Diamond Jewellery Ltd IPO, 10% shares are reserved under the Retail category, with 9,83,455 shares offered, and an allocation amount of ₹37.96 crore.

What is the NII/HNI category?

NII/HNI stands for Non-Institutional Investors / High Net-Worth Individuals. This category generally includes investors applying for more than Rs 2 lakh, above the retail investment limit.

In PNGS Reva Diamond Jewellery Ltd IPO, 15% shares are reserved under the NII/HNI category, with 14,75,184 shares offered, and an allocation amount of ₹56.94 crore.

What is the SHNI category?

SHNI stands for Small HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 2 lakh but not exceeding Rs 10 lakh.

In PNGS Reva Diamond Jewellery Ltd IPO, 5% shares are reserved under the SHNI sub-category, with 4,91,728 shares offered, and an allocation amount of ₹18.98 crore.

What is the BHNI category?

BHNI stands for Big HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 10 lakh.

In PNGS Reva Diamond Jewellery Ltd IPO, 10% shares are reserved under the BHNI sub-category, with 9,83,456 shares offered, and an allocation amount of ₹37.96 crore.

What is employee reservation?

Employee reservation is a special quota reserved for eligible company employees, if applicable.

In PNGS Reva Diamond Jewellery Ltd IPO, 10,000 shares are offered under the Employee Reservation category, and an allocation amount of ₹0.39 crore.

Lot Size Details

PNGS Reva Diamond Jewellery Ltd IPO Lot Size FAQs

Understand retail lot size, HNI application limits, employee category, shareholder category and investment amount calculations using the IPO lot table.

What is lot size in an IPO?

Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.

For PNGS Reva Diamond Jewellery Ltd IPO, the minimum lot size is 32 shares. At the upper price band of Rs 386 per share, the minimum application amount is Rs 12,352. Applications must be made in multiples of 32 shares.

What is Retail minimum application?

Retail minimum application shows the minimum application size for retail investors.

For PNGS Reva Diamond Jewellery Ltd IPO, the Retail minimum application is 32 shares (1 lot) for about Rs 12,352.

What is Retail maximum application?

Retail maximum application shows the maximum application size generally available under the retail category.

For PNGS Reva Diamond Jewellery Ltd IPO, the Retail maximum application is 512 shares (16 lots) for about Rs 1,97,632.

What is SHNI minimum application?

SHNI minimum application shows the minimum application size for the Small HNI category.

For PNGS Reva Diamond Jewellery Ltd IPO, the SHNI minimum application is 544 shares (17 lots) for about Rs 2,09,984.

What is SHNI maximum application?

SHNI maximum application shows the maximum application size available under the Small HNI category, when provided.

For PNGS Reva Diamond Jewellery Ltd IPO, the SHNI maximum application is 2,560 shares (80 lots) for about Rs 9,88,160.

What is BHNI minimum application?

BHNI minimum application shows the minimum application size for the Big HNI category.

For PNGS Reva Diamond Jewellery Ltd IPO, the BHNI minimum application is 2,592 shares (81 lots) for about Rs 10,00,512.

What is Employee minimum application?

Employee minimum application shows the minimum application size under the employee category, if this category is available in the IPO.

For PNGS Reva Diamond Jewellery Ltd IPO, the Employee minimum application is 32 shares (1 lot) for about Rs 12,352.

What is Employee maximum application?

Employee maximum application shows the maximum application size under the employee category, if provided in the lot size table.

For PNGS Reva Diamond Jewellery Ltd IPO, the Employee maximum application is 1,280 shares (40 lots) for about Rs 4,94,080.

Financial Highlights

PNGS Reva Diamond Jewellery Ltd IPO Financial FAQs

Understand important financial figures in simple language using the financial statement data available for the IPO.

What are Financial Highlights?

Financial Highlights show important numbers from the company's financial statements. These may include income, expenses, profit, assets, liabilities, cash flow and other financial information, depending on the data available for the IPO.

The table displays available financial data based on the IPO information currently available. Fields may differ from company to company depending on disclosures and reporting format.

How should investors read the Financial Highlights table?

Investors should read the table to understand the company's financial performance and financial position over different periods.

The table may help users review income, expenses, profitability, balance sheet position, cash movement or other financial information, depending on the available data.

Why can financial line items differ between IPOs?

Financial statement line items may differ because companies operate in different industries and may follow different reporting formats.

Some companies may provide detailed financial breakup, while others may present broader financial categories.

What should investors check in financial data?

Investors should review income, expenses, profitability, debt position, asset base, liabilities and cash flow position together.

A single financial figure should not be used alone to judge the company.

Why is profit not enough to judge an IPO?

Profit is important, but it does not show the full financial picture.

Investors should also review revenue quality, expenses, debt, assets, liabilities, cash flow, valuation and business risks.

Why is cash flow important in financial analysis?

Cash flow helps investors understand how money moves in and out of the business.

A company may report profit but still face cash flow pressure, so cash flow should be reviewed along with profit, debt and balance sheet information.

Should investors rely only on Financial Highlights?

No. Financial Highlights are useful, but investors should also review valuation, peer comparison, KPI data, business risks, IPO pricing, management discussion and official offer documents such as the RHP or DRHP.

Peer Comparison

PNGS Reva Diamond Jewellery Ltd IPO Peer Comparison FAQs

Understand how the company may be compared with similar businesses using the peer comparison data available for the IPO.

What is Peer Comparison?

Peer Comparison means comparing the IPO company with businesses operating in a similar sector or industry.

It helps investors understand the company in a broader industry context.

Why is Peer Comparison useful?

Peer Comparison helps investors understand how the company can be compared with similar businesses using available financial or valuation metrics.

It is useful for context, but it should not be treated as a final investment conclusion.

Why can peer comparison metrics differ?

Peer comparison metrics may differ depending on the companies selected, accounting format, business model and available public information.

Investors should compare only relevant and similar metrics.

How should investors read a Peer Comparison table?

Investors should use the peer comparison table as a reference point.

Available metrics should be read together with business model, scale, profitability, margins, debt, growth, valuation and IPO pricing.

Can Peer Comparison decide whether an IPO is good or bad?

No. Peer Comparison does not directly decide whether an IPO is good or bad.

It only provides context for comparison. Final analysis should include financial statements, KPI data, valuation, risk factors and official offer documents.

Should investors rely only on Peer Comparison?

No. Peer Comparison is only one part of IPO analysis.

Investors should also review financial statements, KPI data, business risks, valuation, IPO pricing and company fundamentals.

Key Performance Indicators

PNGS Reva Diamond Jewellery Ltd IPO KPI FAQs

Understand important KPI metrics in simple language using the key performance indicator data available for the IPO.

What are Key Performance Indicators (KPIs)?

Key Performance Indicators, or KPIs, are financial and valuation metrics used to understand profitability, efficiency, leverage, return-based ratios and earnings performance.

They help investors understand the company beyond basic financial figures.

Why are KPIs important for IPO investors?

KPIs help investors assess profitability, capital efficiency, leverage, valuation and earnings quality.

They should be reviewed together with financial statements, peer comparison and IPO pricing.

Why can KPI availability differ between IPOs?

KPI data may differ depending on the company, industry, financial disclosures and available offer document information.

Not every IPO may provide every KPI, and some metrics may not be applicable to every business.

How should investors read KPI metrics?

Investors should read KPI metrics together instead of relying on one ratio.

A single KPI may not give the full picture unless it is reviewed with financial statements, peer comparison, business model and valuation.

Can high or low KPI values directly decide investment quality?

No. High or low KPI values need context.

The meaning of a ratio may differ depending on industry, business model, debt level, growth stage, profitability and IPO valuation.

Should investors rely only on KPI data?

No. KPI data is useful, but it should not be used alone.

Investors should also review financial statements, peer comparison, business risks, valuation, IPO pricing and official offer documents such as the RHP or DRHP.