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PNGS Reva Diamond Jewellery Limited has fixed the price band of ₹367 to ₹386 per Equity Share of face value ₹10 each for its maiden Initial Public Offering (IPO), in consultation with Smart Horizon Capital Advisors Private Limited (formerly known as Shreni Capital Advisors Private Limited).
The IPO will open for subscription on Tuesday, February 24, 2026, and close on Thursday, February 26, 2026.
Investors can bid for a minimum of 32 Equity Shares and in multiples of 32 Equity Shares thereafter.
Issue Details
- Price Band: ₹367 – ₹386 per Equity Share
- Face Value: ₹10 per Equity Share
- Issue Type: Book Built Issue
- Fresh Issue Size: Up to ₹3,800 million
- Minimum Bid Lot: 32 Equity Shares
The Company had 21,866,400 equity shares outstanding as of the date of the pre-Issue and Price Band Advertisement.
Utilisation of Proceeds
The proceeds from the fresh issue are proposed to be utilised as follows:
- ₹2,865.64 million – Funding capital expenditure towards setting up 15 new stores
- ₹354.00 million – Marketing and promotional expenses related to the launch of the 15 new stores, aimed at strengthening brand awareness and visibility of its flagship brand Reva
- Balance – General corporate purposes
Financial Performance
For the six months ended September 30, 2025:
- Revenue from Operations: ₹1,567.18 million
- Net Profit: ₹201.33 million
For FY25:
- Revenue from Operations: ₹2,581.83 million
- Net Profit: ₹594.74 million
For FY23:
- Revenue from Operations: ₹1,988.48 million
- Net Profit: ₹517.47 million
The company has demonstrated consistent revenue growth and profitability improvement over the reported periods.
Allocation Structure
The Issue is being made through the book-building process:
- Not less than 75% of the Net Issue reserved for Qualified Institutional Buyers (QIBs)
- Not more than 15% allocated to Non-Institutional Investors (NIIs)
- Not more than 10% allocated to Retail Individual Investors (RIIs)
Issue Management
- Book Running Lead Manager: Smart Horizon Capital Advisors Private Limited
- Registrar to the Issue: Bigshare Services Private Limited
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