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Pune-based PNGS Reva Diamond Jewellery has filed papers with SEBI to raise ₹450 crore through an initial public offering.
Founded under the iconic PNG brand umbrella, Reva focuses on diamond-studded and semi-precious jewellery in gold and platinum, targeting a wide mix of modern Indian buyers.
The deets: the IPO is a 100% fresh issue, with ₹286.5 crore earmarked for opening 15 new stores by FY28, and ₹35.4 crore for brand marketing and local awareness campaigns. The shares will list on both the NSE and BSE.
Worth noting: revenues for FY25 stood at ₹258 crore, up 32% YoY, while profits rose 40% to ₹59.4 crore, driven by a strong uptick in domestic demand for diamond-studded jewellery.
Zoom out: India’s branded jewellery market has been growing rapidly, as urban buyers shift from traditional family jewellers to organised, design-first retail chains. If the Reva brand can scale fast and build visibility, this IPO could carve out a decent niche in a crowded but glittering space.
