PNGS Reva Diamond IPO: The Indian primary market continues its momentum in 2026 with the launch of the PNGS Reva Diamond Jewellery Limited IPO. Backed by the 190-year legacy of P. N. Gadgil & Sons Ltd, this mainboard IPO is drawing significant attention from retail and HNI investors alike.
In this comprehensive guide, we cover the PNGS Reva Diamond IPO GMP, price band, key dates, and whether you should subscribe.
PNGS Reva Diamond IPO Details (Quick Facts)
The company is a pure-play diamond and precious stone jewellery retailer, operating primarily through an asset-light “Shop-in-Shop” model.
| Aspect | Details |
| IPO Date | February 24, 2026, to February 26, 2026 |
| Price Band | ₹[TBA] per equity share |
| Issue Size | ₹380 Crore (100% Fresh Issue) |
| Face Value | ₹10 per share |
| Lot Size | [TBA] Shares |
| Listing At | BSE, NSE |
| Registrar | Bigshare Services Pvt. Ltd. |
PNGS Reva Diamond IPO Timetable
Mark your calendars with these tentative dates to ensure you don’t miss the application window.
- IPO Opens: Tuesday, February 24, 2026
- IPO Closes: Thursday, February 26, 2026
- Basis of Allotment: Friday, February 27, 2026
- Refunds Initiation: Monday, March 2, 2026
- Credit of Shares: Monday, March 2, 2026
- Listing Date: Wednesday, March 4, 2026
PNGS Reva Diamond GMP Today
Current Grey Market Premium (GMP): ₹20 (Rumored) Note: GMP is unofficial and fluctuates based on market sentiment. It should not be the sole basis for investment decisions.
As of February 13, 2026, the grey market activity is just beginning. Since the price band is yet to be officially announced, the GMP is expected to gain momentum once the valuation is clear.
Financial Performance & Key Metrics
PNGS Reva has shown robust growth following its strategic “slump sale” from the parent company.
- Revenue (FY25): ₹258.18 Crore (Up 32% YoY)
- Profit After Tax (FY25): ₹59.47 Crore (Up 40% YoY)
- PAT Margin: ~23% (Significantly higher than standard gold retailers)
- Objective: The company intends to use ₹286.5 crore of the proceeds to open 15 new exclusive brand stores.
Pros and Cons: Should You Invest?
Strengths (Pros)
- Legacy Brand: Backed by the trust of P.N. Gadgil & Sons.
- High Margins: Diamond jewellery offers much higher markups compared to gold.
- Expansion Plan: Clear roadmap to scale from 34 to 49 stores.
Risks (Cons)
- Geographic Risk: 97% of revenue comes from Maharashtra; any regional disruption could hit sales.
- Parent Dependency: 33 out of 34 stores are located within parent company outlets.
- New Entity: The current corporate structure is relatively new (formed in 2024/2025).
How to Apply for PNGS Reva Diamond IPO
- UPI Method: Use apps like BHIM, Google Pay, or PhonePe via your broker (Zerodha, Groww, Upstox).
- ASBA Method: Log into your Net Banking portal and apply under the “IPO” section.
- Retail Quota: 10% of the issue is reserved for retail investors (applications up to ₹2 Lakh).
Final Verdict
The PNGS Reva Diamond IPO is a play on the rising “affordable luxury” segment in India. With prices starting at ₹20,000, they target a massive middle-class demographic. However, investors should wait for the Price Band announcement to calculate the P/E ratio relative to peers like Senco Gold or TBZ.
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