PNGS Reva Diamond Jewellery Shares List at Discount on BSE and NSE After ₹380 Crore IPO
PNGS Reva Diamond Jewellery made a muted debut on the stock exchanges on Wednesday, March 4, as the stock listed below its issue price on both the BSE and NSE.PNGS Reva Diamond Jewellery Listing Price on BSE and NSE
Shares of PNGS Reva Diamond Jewellery opened at ₹372 on the BSE, reflecting a discount of about 3.6 percent compared to the IPO price of ₹386 per share.On the NSE, the stock debuted at ₹375, marking a 2.85 percent discount to the issue price.
The listing performance followed a moderate response to the public issue during the subscription period.
₹380 Crore IPO Subscription Details
The ₹380 crore IPO of PNGS Reva Diamond Jewellery was subscribed 1.23 times on the final day of bidding. The issue received bids for 70.31 lakh shares against 57.06 lakh shares offered.Segment-wise subscription details showed:
- Qualified Institutional Buyers subscribed 1.04 times
- Retail investors subscribed 1.29 times
- Non-institutional investors subscribed 1.54 times
The price band for the public issue was fixed at ₹367 to ₹386 per share, with a lot size of 32 shares.
IPO Structure and Utilisation of Proceeds
The IPO comprised entirely a fresh issue of shares, with no offer for sale component.According to the company, the proceeds from the issue will be utilised to:
- Open 15 new stores by FY28
- Fund marketing and promotional expenses for the ‘Reva’ brand
- Meet general corporate requirements
Business Background and Store Network
PNGS Reva Diamond Jewellery was formed 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 Pune-based company operated 33 stores across 25 cities in Maharashtra, Gujarat, and Karnataka.
Financial Performance in FY25
For FY25, PNGS Reva Diamond Jewellery reported a 32 percent rise in revenue to ₹258.18 crore, compared to ₹195.63 crore in the previous year.Profit for the year increased 40 percent to ₹59.47 crore.
The stock market debut now marks the next phase of growth for the jewellery retailer as it plans store expansion and brand development under the Reva banner.
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