One of the leading jewellers, PNGS Reva Diamond Jewellery, submitted its DRHP with the market regulator SEBI with the aim to raise funds of ₹450 crore via an Initial Public Offering (IPO).
On June 17, the company filed its draft papers, which consist entirely of a fresh issue of ₹450 crore with no Offer-for-sale component.
Reva is one of the growing brands that sells gold and platinum jewellery with diamonds and other precious and semi-precious stones.
The promoters of the company hold 87.4% of the company, in which 19.24% stake is held by P N Gadgil & Sons, while the remaining funds of 12.55% is owned by public shareholders.
In January this year, corporate promoter P N Gadgil & Sons, a gold and silver jewellery retailer, restructured its business by selling its diamond jewellery segment to PNGS Reva Diamond Jewellery through a slump sale. PNGS Reva now runs independently in the diamond jewellery industry.
In January, P N Gadgil & Sons sold gold, silver jewellery to PNGS Reva Diamond Jewellery. Now, PNGS Reva runs the diamond Jewellery business on its own.
With 33 stores across 25 cities in Maharashtra, Gujarat, and Karnataka. The proceeds raised ₹286.6 crore from the fresh issue of 15 new stores, and ₹35.4 crore for marketing and promotional expenses. The remaining funds will be used for general corporate purposes.
Smart Horizon Capital Advisors is appointed as the merchant banker for handling the PNGS Reva Diamond Jewellery IPO.
PNGS Reva Diamond IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
PNGS Reva Diamond Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2023 | ₹199.35 | ₹130.17 | ₹51.75 |
| 2024 | ₹196.2.4 | ₹139.56 | ₹42.41 |
| 2025 | ₹259.11 | ₹179.90 | ₹59.47 |
PNGS Reva Diamond IPO Valuation – FY2025
PNGS Reva Diamond IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹35.21 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 59.36% |
| Net Asset Value (NAV): | ₹206.19 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Tribhovandas Bhimji Zaveri Limited | 8.16 | 23.58 | 9.05% | 90.14 | 2298.94 Cr. |
| Thangamayil Jewellery Limited | 44.91 | 41.24 | 24.99% | 179.74 | 3826.78 Cr. |
| Senco Gold Limited | 24.06 | 14.48 | 13.26% | 175.74 | 5241.44 Cr. |
Objects of the Issue
- Funding expenditure towards setting-up of 15 new brand-exclusive stores across India with a focus of targeting in Tier-1 cities and selectively exploring Tier-2 cities in Maharashtra and other metro cities in India (“New Stores”)
- Marketing and promotional expenses related to the launch of the 15 New Stores, aimed at enhancing local brand awareness and visibility of our flagship brand, “Reva”, in their respective areas
- General corporate purposes
IPO Lead Managers aka Merchant Bankers
- Smart Horizon Capital Advisors Private Limited
