Latest news with #PNGSReva
Time of India
8 hours ago
- Business
- Time of India
Pune-based PNGS Reva Diamond Jewellery files draft papers for Rs 450 crore IPO
PNGS Reva Diamond Jewellery , a retail-focused jewellery brand headquartered in Pune, has filed its Draft Red Herring Prospectus (DRHP) with Sebi to raise Rs 450 crore through an initial public offering (IPO). The issue will be entirely a fresh equity offering with a face value of Rs 10 per share. 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. 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.
Fashion Network
10 hours ago
- Business
- Fashion Network
PNGS Reva Diamond Jewellery files draft papers with Sebi for Rs 450 crore IPO
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.
