According to the DRHP, the proceeds from the IPO will be used primarily to support expansion. The company plans to allocate Rs 286.56 crore to set up 15 new stores by FY2028 and an additional Rs 35.40 crore towards marketing and promotional expenses to boost visibility for its flagship brand “Reva.” The remaining funds will be utilised for general corporate purposes.
The IPO will be conducted through the book-building route, with 75% of the net issue reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and the remaining 10% for retail individual investors.
The company was formed following a slump sale of the diamond business by its corporate promoter, P.N. Gadgil & Sons Limited. This strategic disinvestment allowed PNGS Reva to emerge as a distinct entity while continuing operations in the diamond and precious jewellery segment. Its products are marketed under the brand “Reva,” known for blending tradition with modernity through daily wear and occasion-driven collections.
PNGS Reva designs and markets a variety of jewellery made using diamonds, precious and semi-precious stones, set in gold and platinum. Its offerings include curated collections developed both in-house and through third-party manufacturers. Product pricing starts at approximately Rs 20,000 and extends to high-value bespoke pieces.
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As of March 31, 2025, the company had 33 shop-in-shop outlets spread across 25 cities in Maharashtra, Gujarat, and Karnataka. These stores operate on a FOCO (franchise owned, company operated) and FOFO (franchise owned, franchise operated) model, covering a total retail space of 599.15 running feet.Financially, the company reported a 31.97% increase in revenue from operations in FY2025 to Rs 258.18 crore, with net profit rising 40.22% to Rs 59.47 crore.Smart Horizon Capital Advisors is the sole book-running lead manager to the issue, and Bigshare Services is the registrar. The shares are proposed to be listed on the NSE and BSE.
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