PNGS Reva Diamond Jewellery IPO Allotment Today After 1.23x Subscription; Listing Set for March 4
The IPO of PNGS Reva Diamond Jewellery is set to see its allotment finalized on Friday, February 27, after the ₹380 crore public issue was fully subscribed on the final day of bidding. The offering witnessed steady demand, supported by participation from non institutional investors and retail investors.PNGS Reva IPO Subscription Details
The IPO received an overall subscription of 1.23 times on Day 3, with bids for 70.31 lakh shares against 57.06 lakh shares on offer, as per NSE data.Category wise subscription stood as follows:
- Qualified Institutional Buyers subscribed 1.04 times
- Retail Individual Investors subscribed 1.29 times
- Non Institutional Investors subscribed 1.54 times
The price band was fixed at ₹367 to ₹386 per share, with a lot size of 32 shares. The issue comprised entirely a fresh issue of equity shares, with no offer for sale component.
PNGS Reva IPO GMP and Listing Timeline
Shares of PNGS Reva Diamond Jewellery are currently commanding a flat grey market premium, according to platforms tracking unofficial market activity.Shares are scheduled to be credited to successful applicants’ demat accounts on March 2. Refunds for unsuccessful bidders will also be processed on the same day. The stock is slated to list on both the NSE and BSE on March 4.
How to Check PNGS Reva IPO Allotment Status
Investors can check the allotment status through the following platforms:On the BSE website, select ‘Equity’ under Issue Type, choose ‘PNGS Reva Diamond Jewellery’ from the dropdown menu, enter your application number or PAN, complete the captcha verification and click ‘Search’.
On the NSE website, select ‘Equity & SME IPO bid details’, choose ‘PNGS’ from the symbol dropdown, enter your application number and PAN, and submit.
On the Bigshare Services portal, select the company name from the dropdown list, choose your identification option such as application number, beneficiary ID or PAN, enter the required details, complete the captcha and click ‘Search’.
Use of Proceeds and Business Overview
The company plans to use the IPO proceeds to open 15 new stores by FY28, fund marketing and promotional expenses for its flagship ‘Reva’ brand, and meet general corporate requirements.PNGS Reva Diamond Jewellery was carved out after its promoter, P N Gadgil & Sons Ltd, transferred its diamond jewellery business into a separate retail focused entity through a slump sale.
As of March 31, 2025, the company operated 33 stores across 25 cities in Maharashtra, Gujarat and Karnataka.
For FY25, revenue rose 32 percent to ₹258.18 crore from ₹195.63 crore in the previous year. Net profit increased 40 percent to ₹59.47 crore, reflecting improved financial performance ahead of the listing.
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