What is the GMP of PNGS Reva Diamond IPO today?

The Grey Market Premium (GMP) for PNGS Reva Diamond IPO is currently ₹-15. With an upper price band of ₹386, the estimated listing price is ₹371 per share, reflecting an expected listing gain of ~0%. Grey market premiums can fluctuate based on market sentiment and subscription demand.

What is the price band and lot size for PNGS Reva Diamond IPO?

The price band for PNGS Reva Diamond IPO is ₹367 to ₹386 per equity share. The minimum lot size is 32 shares, which requires a minimum retail application investment of ₹12,352.

What are the important dates for PNGS Reva Diamond IPO?

PNGS Reva Diamond IPO opens for subscription on 2026-02-24T00:00:00 and closes on 2026-02-26T00:00:00. The basis of allotment is scheduled for 2026-02-27T00:00:00, and shares are expected to list on 2026-03-04T00:00:00 on BSE, NSE.

How can I check the allotment status for PNGS Reva Diamond IPO?

You can check PNGS Reva Diamond IPO allotment status on the registrar's official portal (Bigshare Services Pvt Ltd) or through the official BSE and NSE IPO allotment status pages using your PAN number or Application number.

How to apply for PNGS Reva Diamond IPO?

Investors can apply for PNGS Reva Diamond IPO online through ASBA (Application Supported by Blocked Amount) via their internet banking account, or via UPI using authorized stockbroking platforms like Zerodha, Groww, Angel One, and Upstox.

When does the PNGS Reva Diamond IPO open and close?

The IPO opens on 24 Feb 2026, and closes on 26 Feb 2026.

What is PNGS Reva Diamond IPO price band?

The issue price band is ₹367.00 to ₹386.00 per equity share.

What is the PNGS Reva Diamond IPO lot size?

The minimum lot size is 32 shares per application.

What is the PNGS Reva Diamond IPO allotment date?

The allotment is scheduled on 27 Feb 2026.

PNGS Reva Diamond IPO Details - Dates, Price Band, Issue Size

All IPOs

Issue Size

380.00 Cr

Price Band

₹367.00 - ₹386.00

Lot Size

32 Shares

Min Investment

₹12,352

GMP

₹-15

Subscription

1.31x

₹273.57 Cr

24 Feb 2026

IPO Opens

COMPLETED

26 Feb 2026

IPO Closes

COMPLETED

27 Feb 2026

Basis of Allotment

COMPLETED

02 Mar 2026

Refunds

COMPLETED

02 Mar 2026

Demat Credit

COMPLETED

04 Mar 2026

Listing

COMPLETED

IPO Timeline

IPO OpensDONE

24 Feb 2026

IPO ClosesDONE

26 Feb 2026

Basis of AllotmentDONE

27 Feb 2026

RefundsDONE

02 Mar 2026

Demat CreditDONE

02 Mar 2026

ListingDONE

04 Mar 2026

About PNGS Reva Diamond IPO

PNGS Reva Diamond Jewellery IPO open date is February 24, 2026 and the IPO will close on February 26, 2026. PNGS Reva Diamond Jewellery IPO is a Book Build Issue. The company to raise around ₹380 crores via IPO that comprises fresh issue of ₹380 crores and offer for sale up to [.] equity shares with face value of ₹10 each.

PNGS Reva Diamond Jewellery IPO price band is ₹367 to ₹386 per share. The retail quota is 10%, QIB is 75%, and HNI is 15%. PNGS Reva Diamond Jewellery IPO to list on BSE, NSE on March 4, 2026. The allotment of PNGS Reva Diamond Jewellery IPO date is February 27, 2026.

The company reported revenue of ₹259.11 crores in 2025 against ₹196.24 crores in 2024. The company reported profit of ₹59.47 crores in 2025 against profit of ₹42.41 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.

IPO Details

PNGS Reva Diamond IPO Details and Specifications
IPO Date	24 Feb 2026 to 26 Feb 2026
Face Value	₹10 Per Share
Price Band	₹367.00 - ₹386.00
Lot Size	32 Shares
Total Issue Size	Approx 380.00 Cr 98,32,000 Equity Shares
Fresh Issue	Approx 380.00 Cr 98,32,000 Equity Shares
Offer for Sale	Approx 0.00 Cr 0 Equity Shares
Retail Portion	9.95%
Sale Type	Fresh Issue
Issue Type	Bookbuilding IPO
Listing Date	04 Mar 2026
Listing At	BSE & NSE
Total Subscription Amount	₹273.57 Cr

Issue Reservation

Investor Category	Shares Offered	% Net Issue
QIB	73,88,800	75.23%
- Anchor	44,19,200	0.00%
- QIB (Ex. Anchor)	29,69,600	0.00%
NII	14,56,000	14.82%
- bNII > ₹10L	9,70,667	0.00%
- sNII < ₹10L	4,85,333	0.00%
Retail	9,77,216	9.95%
Employees	9,984	0.00%
Share Holders	TBA	0.00%
Total	98,32,000	100.00%

IPO Lot Size

Application	Lots	Shares	Amount
Individual investors (Retail) (Min)	1	32	₹12,352
Individual investors (Retail) (Max)	16	512	₹1,97,632
S-HNI (Min)	17	544	₹2,09,984
S-HNI (Max)	80	2,560	₹9,88,160
B-HNI (Min)	81	2,592	₹10,00,512

About Company

PNGS (P. N. Gadgil & Sons) Reva Diamond Jewellery, incorporated in 2004, operates in the jewellery business. The company is engaged in selling a wide range of jewellery crafted from diamonds and precious and semi-precious stone jewellery set in gold and platinum. To offer affordable yet stylish diamond jewellery, they also launched a diamond-focused sub-brand, Reva, in February 2025.

Its product portfolio consists of Diamond rings, diamond earrings, Diamond bracelets, Diamond sets, and Diamond necklace sets. The firm decided to launch the Reva collection before Valentine’s Day in 2025 to tap into festive demand and attract customers for gift options. Its Reva collection is crafted with pure diamond prices and modern designs with starting priced from ₹10,000. The firm includes a total of 33 stores spanning 25 cities as of March 31, 2025.

Contact Details

PNGS Reva Diamond Jewellery Limited.

Abhiruchi Mall, 59/1 C, Sinhgad Road,

Wadgaon Budruk,

Pune – 411041,

Maharashtra, India

+91 020-29980704

investor@revabypng.com

Visit Website

Registrar

Bigshare Services Pvt Ltd

+91-22-62638200

ipo@bigshareonline.com

Lead Managers

Smart Horizon Capital Advisors Pvt Ltd

Day-wise GMP Trend

Date & Time	GMP (₹)	Est. Listing Price	Est. Gain (%)	Est. Profit / Lot (₹)
04-Mar-2026 12:00 PM	₹-15	₹371	-3.89%	₹-480
03-Mar-2026 12:00 PM	₹-15	₹371	-3.89%	₹-480
02-Mar-2026 12:00 PM	₹-2	₹384	-0.52%	₹-64
28-Feb-2026 12:00 PM	₹-2	₹384	-0.52%	₹-64
27-Feb-2026 12:00 PM	₹-1	₹385	-0.26%	₹-32
26-Feb-2026 12:00 PM	₹-1	₹385	-0.26%	₹-32
25-Feb-2026 12:00 PM	+₹2	₹388	+0.52%	₹64
24-Feb-2026 12:00 PM	+₹9	₹395	+2.33%	₹288
23-Feb-2026 12:00 PM	+₹18	₹404	+4.66%	₹576
21-Feb-2026 12:00 PM	+₹17	₹403	+4.40%	₹544
20-Feb-2026 12:00 PM	+₹18	₹404	+4.66%	₹576
19-Feb-2026 12:00 PM	+₹15	₹401	+3.89%	₹480
18-Feb-2026 12:00 PM	+₹18	₹404	+4.66%	₹576
17-Feb-2026 12:00 PM	+₹20	₹406	+5.18%	₹640
16-Feb-2026 12:00 PM	+₹35	₹421	+9.07%	₹1,120
14-Feb-2026 12:00 PM	+₹20	₹406	+5.18%	₹640
13-Feb-2026 12:00 PM	+₹25	₹411	+6.48%	₹800
12-Feb-2026 12:00 PM	+₹20	₹406	+5.18%	₹640
11-Feb-2026 12:00 PM	+₹5	₹391	+1.30%	₹160

Subscription Status

Category	Subscription (x)	Shares Offered	Shares bid for	Total Amount (₹ Cr)
QIB (Ex. Anchor)	1.09x	29,69,600	32,42,304	₹125.15 Cr
NII	1.64x	14,56,000	23,88,224	₹92.19 Cr
bNII > ₹10L	1.73x	9,70,667	16,77,888	₹64.77 Cr
sNII < ₹10L	1.46x	4,85,333	7,10,336	₹27.42 Cr
Retail	1.37x	9,77,216	13,42,592	₹51.82 Cr
Employees	7.10x	9,984	70,848	₹2.73 Cr
Share Holders	4.34x	—	43,328	₹1.67 Cr
Total	1.31x	54,12,800	70,87,296	₹273.57 Cr

Objects of the Issue

01 Funding expenditure towards setting up of 15 New Stores : 286.56 Cr
02 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 Cr
03 General Corporate Purposes : 27.16 Cr
04 Issue Expenses : 30.39 Cr

Company Financials

Period Ended	30 SEPT 2025	31 MAR 2025	31 MAR 2024
Total Income	157.12	259.11	196.24
Profit After Tax	20.13	59.47	42.41
EBITDA	30.79	79.61	56.14
NET Worth	120.31	100.19	-28.50
Reserves and Surplus	98.44	95.33	-37.64
Total Borrowing	130.25	90.65	—

Amount in ₹ Crore

IPO Valuation - KPI

KPI	31 Mar 2025
ROCE	79.8%
Debt/Equity Ratio	0.37
Return on Net Worth (RoNW)	59.36%
PAT Margin	23.04%
EBITDA Margin	30.83%
Net Asset Value (NAV)	₹45.82
Earning Per Share (EPS)	₹35.21

Peer Comparison

Company Name	EPS (₹)	P/E (x)	NAV (₹)	RoNW (%)	Income (₹ Cr)
Senco Gold Limited	24.06	14.48	175.74	13.26	5,241.44
Thangamayil Jewellery Limited	44.91	41.24	179.74	24.99	3,826.78
Tribhovandas Bhimji Zaveri Limited	8.16	23.58	90.14	9.05	2,298.94

IPO Anchor Investors

Anchor Investors Letter (PDF)

Promoters and Holding Pattern

P.N.Gadgil & Sons Ltd, Govind Vishwanath Gadgil, Renu Govind Gadgil are the company's promoters of PNGS Reva Diamond.

Particular	Pre IPO	Post IPO
Promoter and Promoter Group	87.45%	60.31%
Others*	12.55%	39.69%

Strengths

The company claims to have a concentrated retail presence across Tier-1, Tier-2, and Tier-3 cities in Maharashtra, Gujarat, and Karnataka, providing it with regional depth in western India. It states that this geographic focus enables it to understand local demand patterns linked to weddings, festivals, and seasonal occasions, and to align inventory accordingly. The company further claims that its defined regional corridor, supported by centralised inventory and quality control at its registered and corporate office, allows for streamlined logistics, faster replenishment cycles, and closer operational oversight.
The company claims to have a diversified product portfolio across categories and price points, with jewellery designs starting from approximately Rs 20,000 as of September 30, 2025. Its offerings include rings, earrings, necklaces, bracelets, pendants, mangalsutras, and bangles made using diamonds and other precious and semi-precious stones set in gold and platinum, catering to both high-value purchases and everyday wear. It states that it launched 3, 6, and 4 new collections in FY23, FY24, and FY25, respectively, supported by an in-house design team of two designers working with third-party manufacturers and karigars, and that it provides customisation options such as metal selection, gemstone preferences, and engravings.
The company claims to have expertise in customised jewellery and high-value pieces, enabling it to operate across both entry-level and premium segments. It states that customers can personalise elements such as metal selection, diamond and gemstone preferences, and engravings. Its portfolio includes handmade jewellery sets designed for weddings and milestone occasions, which typically involve higher average order values.
The company claims to have established internal control, inventory management, and quality assurance systems to support its operations. It states that it follows a centralised procurement strategy and uses an ERP system that tracks each product from procurement to retail sale through unique barcode identifiers, with scheduled internal and third-party audits conducted across stores and its registered and corporate office. The company further claims that its stores and offices are equipped with vaults, covered by jeweller’s block insurance, and supported by transit insurance and round-the-clock security arrangements.

Risks

Maharashtra accounted for Rs 152.87 crore (97.54 percent) of the company’s total revenue for the period ended September 30, 2025; Rs 250.38 crore (96.97 percent) in FY25; Rs 189.26 crore (96.75 percent) in FY24; and Rs 192.34 crore (96.73 percent) in FY23. Any adverse developments in this region, including economic slowdown, regulatory changes, social unrest, or real estate cost fluctuations, could adversely affect the company’s business, financial condition, and results of operations.
The company retails only natural diamond jewellery, while lab-grown diamonds (LGDs) are gaining acceptance as a lower-cost alternative. The LGD jewellery market in India increased from Rs 2,158.80 crore in CY22 to Rs 2,855.80 crore in CY24, reflecting changing consumer preferences. Sustained shift in demand towards synthetic diamonds, downward pressure on natural diamond prices, or the inability to compete effectively with lower-cost alternatives, could adversely affect the company’s business, financial condition, and results of operations.
The company’s revenue is influenced by seasonal trends, with higher sales during festivals such as Akshay Tritiya, Dhanteras, and Diwali, as well as occasions like Valentine’s Day and the wedding season. Any decline in demand during these key periods or inability to manage seasonal inventory and cash flow requirements could adversely affect the company’s business, financial condition, and results of operations.
The company’s operations are directly affected by fluctuations in the prices of gold, diamonds, and other precious and semi-precious stones. Volatility in gold prices, in particular, can influence both consumer demand and the valuation of inventory held for sale. Any significant increase or decline in the prices of these commodities, or an adverse outlook on future prices, could adversely affect the company’s revenue from operations, profitability, and overall financial condition.
The company’s promoters and directors are involved in certain ongoing legal proceedings. The company’s business prospects could be hit in case of adverse judgments in any of these cases.
As of September 30, 2025, the company had outstanding financial indebtedness of Rs 130.25 crore. Failure to service or repay these loans could harm the company’s operations and financial position.

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About PNGS Reva Diamond IPO

IPO Details

PNGS Reva Diamond IPO Details and Specifications
IPO Date	24 Feb 2026 to 26 Feb 2026
Face Value	₹10 Per Share
Price Band	₹367.00 - ₹386.00
Lot Size	32 Shares
Total Issue Size	Approx 380.00 Cr 98,32,000 Equity Shares
Fresh Issue	Approx 380.00 Cr 98,32,000 Equity Shares
Offer for Sale	Approx 0.00 Cr 0 Equity Shares
Retail Portion	9.95%
Sale Type	Fresh Issue
Issue Type	Bookbuilding IPO
Listing Date	04 Mar 2026
Listing At	BSE & NSE
Total Subscription Amount	₹273.57 Cr

Investor Category

Shares Offered

% Net Issue

QIB

73,88,800

75.23%

- Anchor

44,19,200

0.00%

- QIB (Ex. Anchor)

29,69,600

0.00%

NII

14,56,000

14.82%

- bNII > ₹10L

9,70,667

0.00%

- sNII < ₹10L

4,85,333

0.00%

Retail

9,77,216

9.95%

Employees

9,984

0.00%

Share Holders

TBA

0.00%

Total

98,32,000

100.00%

Application

Lots

Amount

Individual investors (Retail) (Min)

₹12,352

Individual investors (Retail) (Max)

512

₹1,97,632

S-HNI (Min)

544

₹2,09,984

S-HNI (Max)

2,560

₹9,88,160

B-HNI (Min)

2,592

₹10,00,512

About Company

Contact Details

PNGS Reva Diamond Jewellery Limited.

Abhiruchi Mall, 59/1 C, Sinhgad Road,

Wadgaon Budruk,

Pune – 411041,

Maharashtra, India

+91 020-29980704

investor@revabypng.com

Visit Website

Date & Time

GMP (₹)

Est. Listing Price

Est. Gain (%)

Est. Profit / Lot (₹)

04-Mar-2026 12:00 PM

₹-15

₹371

-3.89%

₹-480

03-Mar-2026 12:00 PM

₹-15

₹371

-3.89%

₹-480

02-Mar-2026 12:00 PM

₹-2

₹384

-0.52%

₹-64

28-Feb-2026 12:00 PM

₹-2

₹384

-0.52%

₹-64

27-Feb-2026 12:00 PM

₹-1

₹385

-0.26%

₹-32

26-Feb-2026 12:00 PM

₹-1

₹385

-0.26%

₹-32

25-Feb-2026 12:00 PM

+₹2

₹388

+0.52%

₹64

24-Feb-2026 12:00 PM

+₹9

₹395

+2.33%

₹288

23-Feb-2026 12:00 PM

+₹18

₹404

+4.66%

₹576

21-Feb-2026 12:00 PM

+₹17

₹403

+4.40%

₹544

20-Feb-2026 12:00 PM

+₹18

₹404

+4.66%

₹576

19-Feb-2026 12:00 PM

+₹15

₹401

+3.89%

₹480

18-Feb-2026 12:00 PM

+₹18

₹404

+4.66%

₹576

17-Feb-2026 12:00 PM

+₹20

₹406

+5.18%

₹640

16-Feb-2026 12:00 PM

+₹35

₹421

+9.07%

₹1,120

14-Feb-2026 12:00 PM

+₹20

₹406

+5.18%

₹640

13-Feb-2026 12:00 PM

+₹25

₹411

+6.48%

₹800

12-Feb-2026 12:00 PM

+₹20

₹406

+5.18%

₹640

11-Feb-2026 12:00 PM

+₹5

₹391

+1.30%

₹160

PNGS Reva Diamond IPO Details

About PNGS Reva Diamond IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

IPO Anchor Investors

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the PNGS Reva Diamond IPO open and close?

What is PNGS Reva Diamond IPO price band?

What is the PNGS Reva Diamond IPO lot size?

What is the PNGS Reva Diamond IPO allotment date?

What is the PNGS Reva Diamond IPO listing date?

What is the minimum investment required in PNGS Reva Diamond IPO?

Join the discussion

PNGS Reva Diamond IPO Details

About PNGS Reva Diamond IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

IPO Anchor Investors

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the PNGS Reva Diamond IPO open and close?

What is PNGS Reva Diamond IPO price band?

What is the PNGS Reva Diamond IPO lot size?

What is the PNGS Reva Diamond IPO allotment date?

What is the PNGS Reva Diamond IPO listing date?

What is the minimum investment required in PNGS Reva Diamond IPO?

Join the discussion