PNGS Reva Diamond Jewellery Ltd. (Mainboard)

Promoted by the legendary P. N. Gadgil & Sons Ltd, the company is a retail-focused specialist in diamond and gemstone-studded jewellery. It recently underwent a strategic restructuring where the parent group transferred its entire diamond business to this entity to create a pure-play diamond retail powerhouse under the brand "Reva".

Business Verticals

• Diamond & Gemstone Jewellery: Core segment featuring rings, earrings, necklaces, and pendants set in gold and platinum.

• Platinum Jewellery: Retail of plain and studded platinum pieces, targeting the premium and modern youth segments.

• Customised Jewellery: Bespoke services for high-value wedding sets and personalized milestone gifting.

• Store Models: Operates through FOCO (Franchise Owned, Company Operated), FOFO, and COCO (Exclusive Brand Stores) models.

Business Model

PNGS Reva primarily uses a "Shop-in-Shop" model, leveraging the massive footfall and infrastructure of existing P. N. Gadgil & Sons outlets in Maharashtra. It focuses on the "affordable luxury" segment with entry-level diamond pieces starting from ₹20,000.

Track Record

• Legacy: Backed by the 190-year-old "Gadgil" legacy, providing instant trust in a high-ticket retail sector.

• Expansion: Operates 34 stores across 25 cities in Maharashtra, Gujarat, and Karnataka as of 2025.

• Profitability: Reported a strong PAT of ₹59.81 Cr in FY25, with an impressive PAT margin of 23%.

• Financial Health: Robust Return on Equity (ROE) of 59.4% and Return on Capital Employed (ROCE) of 80.5%.

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PNGS Reva Diamond Jewellery Ltd IPO GMP

To check the latest PNGS Reva Diamond Jewellery Ltd IPO GMP today and live grey market premium updates, visit our dedicated GMP tracking page: Check Latest IPO GMP Here

Note: GMP is unofficial and usually becomes active once the price band is declared. Given the strong parentage and high margins, it is a closely watched issue.

PNGS Reva Diamond Jewellery Ltd IPO Allotment Status

The allotment process begins immediately after the bidding closes on February 26th.

Check PNGS Reva Diamond Jewellery Ltd IPO Allotment Status To check your status online, visit: Check IPO Allotment Status Here

You can check your status through:

• Registrar's website (Bigshare Services Pvt Ltd)

• BSE and NSE official portals

• Using your PAN number or Application number

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Strengths

• Extraordinary Margins: 23% PAT margin is significantly higher than traditional gold-heavy jewellers, reflecting the high markup in diamond retail.

• Asset-Light Scalability: Use of the parent company's retail space (Franchise model) allows for rapid expansion with lower capital expenditure.

• Debt Efficiency: Maintain a comfortable debt-to-equity ratio of 0.37x, showcasing strong internal accruals.

• Brand Legacy: Immediate market acceptance due to the deep-rooted "PNG" brand name in Western India.

Weakness

• Related Party Dependence: Over 95% of stores are inside parent group outlets; any change in franchise terms with P. N. Gadgil & Sons could disrupt operations.

• Geographical Risk: Revenue is highly concentrated in Maharashtra (~97%), making it vulnerable to regional economic shifts.

• Slump Sale Risks: As a newly carved-out corporate entity (January 2025), it lacks a long standalone track record as a public company.

• High Competition: Faces intense competition from national giants like Tanishq and digital-first brands like CaratLane and BlueStone.

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How the Company Will Use IPO Money

The company intends to utilize the net proceeds of ₹380.00 crores for:

• Setting up 15 New Exclusive Stores: ₹286.56 crores allocated for capital expenditure to build standalone "Reva" brand stores.

• Marketing & Brand Building: ₹35.40 crores for promotional activities to establish "Reva" as an independent brand identity.

• General Corporate Purposes: Meeting operational expenses and strategic growth initiatives.

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PNGS Reva Diamond Jewellery Ltd Lead Manager

Smart Horizon Capital Advisors Private Limited The company is the sole Book Running Lead Manager (BRLM) for this issue.

PNGS Reva Diamond Jewellery Ltd Address

PNGS Reva Diamond Jewellery Limited

Registered Office: Abhiruchi Mall, S.No 59/1-C, Sinhgad Road, Wadgaon Budruk, Pune, Maharashtra - 411041

Phone: +91 020-2998 0704

E-mail: investor@revabypng.com

Website: https://www.revabypng.com/

PNGS Reva Diamond Jewellery Registrar

Bigshare Services Private Limited

Address: S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai - 400 093

Phone: +91-22-6263 8200

Email: ipo@bigshareonline.com

Website: https://www.bigshareonline.com/