PNGS Reva Diamond Jewellery's IPO sees 23% subscription
PNGS Reva Diamond Jewellery's IPO was priced at ₹386 per share. The offer was subscribed 1.23 times overall, with retail and non-institutional investors showing strong interest.
Even employees were keen, bidding nearly seven times their allotted quota.
Who are they?
Incorporated in 2004 and promoted by P N Gadgil & Sons, PNGS Reva designs and sells diamond-studded gold and platinum jewelry—think rings, earrings, necklaces, and more—under the "Reva" brand.
They run 34 stores across Maharashtra, Gujarat, and Karnataka using different franchise models to reach more customers.
What will they do with the money?
The company's been growing fast: revenue jumped to ₹259 crore in FY25 with profits of ₹59 crore.
With funds from this IPO, they plan to open 15 new stores (most in Maharashtra) and boost their marketing game—so expect to see even more of "Reva" soon.