Incorporated in 2004, PNGS Reva Diamond Jewellery is engaged in the jewellery business. The company offers different types of jewellery made using diamonds and precious and semi-precious stones, which are studded into precious metals such as gold and platinum. All products are offered under the brand name, “Reva”.
The company offers a wide range of products, including rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, mangalsutra, nose rings, and chains to cater to diverse customer segments and occasions. As of September 30, 2025, it has 13 distinct jewellery collections, includes in-house design team and curated selections from our third-party manufacturers and Karigars.
As on the date of RHP, the company had 34 Stores across 25 cities in the states of Maharashtra, Gujarat, and Karnataka, aggregating across an area of 647.15 Running Feet.
Its stores are operated under Franchise owned and company operated (FOCO), franchise owned and franchise operated (“FOFO”), and company owned and company operated (“COCO”) model.
Competitive Strengths:
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 352.70 | 226.84 | 158.33 | 123.93 |
| Total Income | 157.12 | 259.11 | 196.24 | 199.35 |
| Profit After Tax | 20.13 | 59.47 | 42.41 | 51.75 |
| EBITDA | 30.79 | 79.61 | 56.14 | 68.73 |
| NET Worth | 120.31 | 100.19 | -28.50 | -52.02 |
| Reserves and Surplus | 98.44 | 95.33 | -37.64 | -60.74 |
| Total Borrowing | 130.25 | 90.65 | ||
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding expenditure towards setting-up of 15 New Stores | 286.56 |
| 2 | Marketing and promotional expenses related to the launch of the 15 New Stores, aimed at enhancing local brand awareness and visibility of the flagship brand, “Reva”, in their respective areas | 35.40 |
| 3 | General corporate purposes | |
| Total | 321.96 |
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 18.3% | 165.9% |
| ROCE | 25.2% | 79.8% |
| Debt/Equity | 1.10 | 0.90 |
| RoNW | 16.73% | 59.36% |
| PAT Margin | 12.85% | 23.04% |
| EBITDA Margin | 19.65% | 41.81% |
| Price to Book Value | 8.42 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 35.21 | |
| P/E (x) | 10.96 |
| IPO Date | 24 to 26 Feb, 2026 |
| Listing Date | Wed, Mar 4, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹367 to ₹386 |
| Lot Size | 32 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 98,44,559 shares (agg. up to ₹380 Cr) |
| Share Holding Pre Issue | 2,18,66,400 shares |
| Share Holding Post Issue | 3,17,10,959 shares |
The promoters of the company are Mr. Vinod Gupta and Mrs. Arnima Gupta.
| Share Holding Pre Issue | 87.45% |
| Share Holding Post Issue | 60.31% |
As per our analysis and Based on the information we have, this is the output.
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