Quick Stats
Listing Price
375
(-2.85%)
Subscription
1.23x
Allotment Status
Out
Last Updated
26-03-2026 10:56 PM
PNGS Reva Diamond Jewellery IPO – Live GMP, Review & Analysis
PNGS Reva Diamond Jewellery IPO GMP Today - ₹-21 (-5.44%)
Last updated: 03-03-2026 10:00 AM
Grey Market Premium Analysis
As of today, the latest Grey Market Premium (GMP) for PNGS Reva Diamond Jewellery IPO is ₹-21. Considering the upper price band of ₹386, the estimated listing price is ₹365 (Cap Price + GMP). This indicates a listing gain of -5.4% per share. The GMP trend has been Down over the last 3 days.
GMP Trend Analysis
| Date | GMP Price | Est. Listing Gain | Trend |
|---|---|---|---|
| 03-03-2026 | -21 | ₹-672 | Down |
| 02-03-2026 | -2 | ₹-64 | Neutral |
| 01-03-2026 | -2 | ₹-64 | Neutral |
| 28-02-2026 | -2 | ₹-64 | Down |
| 27-02-2026 | -1 | ₹-32 | Neutral |
| 26-02-2026 | -1 | ₹-32 | Down |
| 25-02-2026 | 2 | ₹64 | Down |
| 24-02-2026 | 9 | ₹288 | Down |
| 23-02-2026 | 18 | ₹576 | Up |
| 22-02-2026 | 17 | ₹544 | Neutral |
| 21-02-2026 | 17 | ₹544 | Down |
| 20-02-2026 | 18 | ₹576 | Up |
| 19-02-2026 | 15 | ₹480 | Down |
| 18-02-2026 | 18 | ₹576 | Down |
| 17-02-2026 | 20 | ₹640 | Neutral |
PNGS Reva Diamond Jewellery IPO Date, Price Band & Lot Size
Price Band
₹367-386
Lot Size
32 shares
Cutoff Investment
12352
Promoter Holding
Open
Feb 24, 2026
Close
Feb 26, 2026
Allotment Date
Feb 27, 2026
Listing Date
Mar 3, 2026
Issue Size
380
PNGS Reva Diamond Jewellery IPO Review: Business Model
*This section provides a detailed description of PNGS Reva Diamond Jewellery IPO's business operations and market position.
PNGS Reva Diamond Jewellery IPO Financial: Revenue, Profit & Margins
Key financial metrics over recent years.
*Values in Cr
Revenue
₹258 Cr
Net Profit
₹59 Cr
EBITDA
₹81 Cr
ROE
59%
ROCE
42%
Debt/Equity
0.91x
PAT Margin
23%
Peer Comparison
Gems & Jewellery (Retail) • FY24/FY25
| Company | Revenue (₹ Cr) | PAT (₹ Cr) | EBITDA Margin | P/E | Market Cap (₹ Cr) | Comment |
|---|---|---|---|---|---|---|
PNGS Reva Diamond Jewellery Ltd (IPO) IPO Company | 258.18 | 59.47 | NA | 0.00 | 0 | Specialized retailer focusing on diamond and precious stone jewellery, operating primarily through a 'shop-in-shop' model within promoter outlets. |
P.N. Gadgil Jewellers Ltd | 6,110.84 | 154.34 | 4.5% | 68.00 | 10,500 | Large-scale regional jewellery retailer with a strong presence in Maharashtra, offering a diverse mix of gold, silver, and diamond products. |
Motisons Jewellers Ltd | 415 | 33.2 | 13.5% | 54.00 | 1,800 | Jaipur-based retailer known for traditional gold and diamond jewellery, operating large-format showrooms with high brand visibility. |
RBZ Jewellers Ltd | 289.6 | 22.4 | 7.2% | 24.50 | 550 | Manufacturer and retailer specializing in antique gold and diamond jewellery, serving both wholesale and retail channels. |
Analysis & Interpretation
The peer set highlights a divergence in business models, ranging from high-volume, inventory-heavy gold retailers like P.N. Gadgil Jewellers to specialized players like RBZ and Motisons. PNGS Reva's financial profile, particularly its profitability relative to revenue, may differ from traditional peers due to its focus on high-margin diamond categories and a cost-efficient 'shop-in-shop' operational structure. Valuation multiples in this sector are typically driven by brand strength, store network expansion, and the mix of studded versus plain gold jewellery.
Note: Peer data is based on FY24 audited figures as standard benchmarks, while PNGS Reva data reflects FY25 financials as disclosed in the DRHP. Market Capitalization and P/E ratios for peers are subject to market fluctuations.
Source: Draft Red Herring Prospectus (DRHP) for IPO Company; BSE/NSE filings and Annual Reports (FY24) for listed peers.
This peer comparison is for informational purposes only and is based on publicly available financial data. It does not constitute investment advice or a recommendation to buy or sell any security.
IPO Objectives (Use of Funds)
Capital Expenditure for New Stores
₹286.56 Cr(63.68%)Funding the establishment of 15 new brand-exclusive stores to expand the company's retail network.
Marketing and Promotional Expenses
₹35.48 Cr(7.88%)Allocated for marketing initiatives specifically related to the launch and promotion of the new stores.
General Corporate Purposes
Balance Amount(Balance)Deploying remaining proceeds towards general business requirements and operational exigencies.
Note: Objectives are as per the Draft Red Herring Prospectus (DRHP). Utilisation amounts are estimates and subject to change.
Source: Draft Red Herring Prospectus (DRHP)
For informational purposes only.
Anchor Investor List & Allocation Details
Key institutional investors who subscribed to the IPO prior to opening.
| Investor Name | Category | Shares Allocated | Amount (Cr) |
|---|---|---|---|
| TATA INDIA CONSUMER FUND | Mutual Fund (MF) | 10,36,288 | ₹40.00 Cr |
| GROWW MUTUAL FUND - LARGE CAP FUND | Mutual Fund (MF) | 23,328 | ₹0.90 Cr |
| GROWW MUTUAL FUND-GROWW MULTI CAP FUND | Mutual Fund (MF) | 85,504 | ₹3.30 Cr |
| GROWW MUTUAL FUND-GROWW SMALL CAP FUND | Mutual Fund (MF) | 46,624 | ₹1.80 Cr |
| SAGEONE FLAGSHIP GROWTH OF FUND | AIF | 5,18,144 | ₹20.00 Cr |
| CITIGROUP GLOBAL MARKETS MAURITIUS PVT LTD | FPI | 2,59,072 | ₹10.00 Cr |
| SOCIETE GENERALE | FPI | 4,66,336 | ₹18.00 Cr |
| TIGER STRATEGIES FUND-J | FPI | 6,21,920 | ₹24.01 Cr |
| K-THREE ALTERNATIVE INVESTMENT TRUST-FUND I | AIF | 1,29,536 | ₹5.00 Cr |
| INNOVATIVE VISION FUND | AIF | 1,29,536 | ₹5.00 Cr |
| VISIONARY VALUE FUND | AIF | 1,29,536 | ₹5.00 Cr |
| ASTORNE CAPITAL VCC-ARVEN | FPI | 4,55,232 | ₹17.57 Cr |
| HOLANI VENTURE CAPITAL FUND-I | AIF | 1,29,536 | ₹5.00 Cr |
| VINEY GROWTH FUND | AIF | 1,29,536 | ₹5.00 Cr |
| AANJAY AGELESS AIF FUND | AIF | 1,29,536 | ₹5.00 Cr |
| RAJASTHAN GLOBAL SECURITIES PRIVATE LIMITED | Others | 1,29,536 | ₹5.00 Cr |
SWOT Analysis (Pros & Cons)
Comprehensive analysis of Strengths, Weaknesses, Opportunities, and Threats.
Strengths
- •Leverages strong brand equity of promoter P.N. Gadgil & Sons.
- •Cost-efficient 'Shop-in-Shop' model reduces real estate and operational expenses.
- •Specialized focus on high-margin diamond and precious stone jewellery.
- •Established retail presence with 33 stores across Maharashtra and neighboring states.
- •Experienced promoter team with deep expertise in the jewellery domain.
Weaknesses
- •Significant geographical concentration of revenue within the Maharashtra region.
- •Operational dependence on Promoter Group for retail space and infrastructure.
- •Limited operating history as an independent entity outside the Promoter network.
- •High working capital requirements due to inventory-intensive business model.
Opportunities
- •Planned expansion of 15 new brand-exclusive stores using IPO proceeds.
- •Growing consumer preference for organized retail and certified diamond jewellery.
- •Expansion into underpenetrated markets in Western and Southern India.
- •Increasing discretionary spending on luxury and lifestyle products in Tier-2 cities.
Threats
- •Rising popularity and affordability of lab-grown and synthetic diamonds.
- •Volatility in raw material prices including gold, diamonds, and gemstones.
- •Intense competition from both organized national players and local family jewellers.
- •Regulatory changes concerning gold imports, hallmarking, and luxury taxes.
IPO Video Analysis (External)
Detailed analysis of PNGS Reva Diamond Jewellery IPO Analysis by market experts.
*Video embedded for convenience. Click the play button to load the content from YouTube.
Disclaimer: This video is shared for informational and educational purposes only. The views expressed are those of the respective creator and do not constitute investment advice.