Pune-based jeweller PNGS Reva Diamond Jewellery has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (Sebi) for its initial public offering (IPO).
With this IPO, PNGS Reva aims to raise Rs 450 crore ($52.1 million), which comprises an entirely fresh issue of equity shares with a face value of Rs 10 apiece.
The company will utilise funds raised from the IPO to expands its retail presence which includes opening 15 new stores by 2028. Additionally, it plans to invest in marketing and promotional activities to enhance the visibility of the brand.
PNGS Reva currently operates around 33 stores across 25 cities in Maharashtra, Gujarat and Karnataka.
For the public offering of PNGS Reva Diamond Jewellery, Bigshare Services serves as the registrar of the issue, while Smart Horizon Capital Advisors is the sole book-running lead manager.
PNGS Reva Diamond Jewellery products are sold under its flagship brand, Reva. It had reported a revenue of Rs 258 crore with a profit of Rs 59 crore in financial year 2025.
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