PNGS Reva Diamond IPO opens today: Check GMP, price band, key dates, review
PNGS Reva Diamond has set the price band for the issue in the range of ₹367 to ₹386 per share, with a lot size of 32 shares
 "PNGS Reva Diamond IPO opens today: Check GMP, price band, key dates, review")
PNGS Reva Diamond Jewellery IPO: The initial public offering (IPO) of PNGS Reva Diamond Jewellery, a retail-focused jewellery brand, opens for public subscription today, February 24, 2026. The mainline issue comprises a fresh issue of 9.8 million equity shares. There is no offer for sale (OFS) component.
Ahead of its IPO, the compay raised ₹170.58 crore from 16 anchor investors on February 23. The company has allotted 4.41 million shares to anchor investors at the upper end at the price of ₹367 to ₹386 per share. Institutions that participated in the anchor round included Citigroup Global Markets Mauritius, Societe Generale, Tata Mutual Fund (MF), Groww MF, SageOne Investments, Tiger Strategies Fund-I, and Innovative Vision Fund, among others, according to a circular uploaded on BSE's website.
PNGS Reva Diamond Jewellery IPO GMP
On Tuesday, the unlisted shares of PNGS Reva were trading at ₹395, commanding a marginal grey market premium of ₹9 or 2.33 per cent against the upper band price, according to the sources tracking unofficial markets.
PNGS Reva Diamond IPO review
According to SBI Securities, PNGS Reva offers a unique play in India’s organized diamond jewellery market, with a 100 per cent diamond focus delivering high PAT margins of 23 per cent (FY25). However, its heavy reliance on promoters and Shop-in-Shop stores poses operational risks. The IPO, priced at ₹386, trades at a post-issue P/E of 20.6x. SBI Securities maintains a 'Neutral' view, preferring to track performance post-listing. READ | PNGS Reva Diamond IPO: Brokerages split on prospects; should you apply?
Here are the key details of the PNGS Reva Diamond Jewellery IPO:
PNGS Reva Diamond IPO key dates
The subscription window for the issue will close on Thursday, February 26, 2026. The share allotment process is expected to be concluded by Friday, February 27. The company is expected to list its shares on the exchanges, NSE and BSE, on Wednesday, March 4.
PNGS Reva Diamond IPO lot size
PNGS Reva Diamond has set the price band for the issue in the range of ₹367 to ₹386 per share. The lot size for an application is 32 shares. Accordingly, a retail investor would require a minimum investment amount of ₹12,352 to bid for at least one lot and in multiples thereof.
PNGS Reva Diamond IPO registrar, lead manager
Bigshare Services is serving as the registrar for the issue. Smart Horizon Capital Advisors is the sole book-running lead manager.
PNGS Reva Diamond IPO objective
According to the red herring prospectus (RHP), the company plans to utilise ₹286.56 crore from the net fresh issue proceeds for funding expenditure towards setting up 15 new stores, and ₹35.4 crore for marketing and promotional expenses. The remaining funds will be used for general corporate purposes.