IPO Opening on February 24 : If you too were planning to invest in an IPO, then this information can prove to be very important for you because today we will discuss about the IPO of a company working in the diamond jewellery sector, where this company is coming up with its new IPO. PNGS Reva Diamond Jewellery IPO Let us tell you that this IPO is going to be available to you under a Book Built Issue, where its issue size will be around Rs 380 crores.
The price band is going to be seen around Rs 367 to Rs 386. One lot or 32 shares are going to be available with a face value of Rs 10. The listing will be done on the Mumbai Stock Exchange and National Stock Exchange. The IPO will open on February 24, 2026, while the IPO will close on February 26, 2026. Allotment is going to be given on February 27, 2026, and the listing date is being said to be around March 4, 2026. An investor can buy a maximum of 16 lots. Where its 512 shares are going to be available, let us understand in detail according to some fundamental tables and data of the company.
Here is a complete, easy-to-understand IPO analysis for investors.
IPO Overview
| Particulars | Details |
|---|---|
| IPO Type | Book Built Issue |
| Issue Size | ₹380 Crore (Fresh Issue Only) |
| Price Band | ₹367 – ₹386 per share |
| Lot Size | 32 shares |
| Face Value | ₹10 (assumed standard) |
| Listing | BSE & NSE |
| IPO Open Date | 24 Feb 2026 |
| IPO Close Date | 26 Feb 2026 |
| Allotment Date | 27 Feb 2026 |
| Listing Date (Tentative) | 4 Mar 2026 |
The IPO does not include any Offer for Sale (OFS), which means all the funds raised will go directly to the company for expansion or business purposes.
Investment Details
Retail Investors
- Minimum Lot: 1 lot (32 shares)
- Minimum Investment: ₹12,352
- Maximum (16 lots): 512 shares
- Maximum Retail Investment: ₹1,97,632
sNII (Small Non-Institutional Investors)
- 17 lots (544 shares)
- Investment: ₹2,09,984
bNII (Big Non-Institutional Investors)
- 81 lots (2,592 shares)
- Investment: ₹10,00,512
IPO Reservation
| Category | Allocation |
|---|---|
| QIB (Qualified Institutional Buyers) | Not less than 75% |
| NII (Non-Institutional Investors) | Not more than 15% |
| Retail Investors | Not more than 10% |
Valuation Analysis
At the upper price band of ₹386:
| Particular | Value |
|---|---|
| Market Capitalization | ₹1,221.48 Crore |
| EPS (FY25) | ₹35.21 |
| PE Ratio | 10.96x |
| Industry PE | 43.23x |
What Does This Mean?
- The company is priced at 10.96x PE, which is significantly lower than the industry average PE of 43.23x.
- This suggests the IPO appears reasonably valued compared to peers in the jewellery sector.
However, investors should also consider business risks and growth sustainability.
Company Financial Performance (FY25)
Profit & Loss Highlights (₹ Crore)
| Particular | Mar 2025 |
|---|---|
| Net Sales | 258.18 |
| Operating Profit | 80.19 |
| Profit Before Tax | 79.21 |
| Net Profit | 59.47 |
| Adjusted EPS | 2.72 |
The company has delivered solid profitability with strong operating margins.
Balance Sheet Strength (March 2025)
| Particular | Amount (₹ Cr) |
|---|---|
| Share Capital | 4.86 |
| Reserves | 95.33 |
| Borrowings | 0 |
| Total Assets | 226.70 |
Key Observation:
- Zero borrowings – This is a strong positive sign.
- Healthy reserves indicate financial stability.
Cash Flow Analysis (FY25)
| Particular | ₹ Crore |
|---|---|
| Operating Cash Flow | 39.01 |
| Investing Cash Flow | -174.42 |
| Financing Cash Flow | 173.23 |
| Net Cash Flow | 37.82 |
The company has strong operational cash generation. The negative investing cash flow suggests expansion or asset investments.
Recent Development
- Filed preliminary papers with SEBI in June 2025 for ₹450 crore IPO.
- Now launching IPO to raise around ₹380 crore.
- Expected listing on March 4, 2026.
IPO Grey Market Premium (GMP)
As of 24 February 2026, the GMP is not available.
Note: Grey Market Premium is unofficial and speculative. Investors should not rely solely on GMP for decision-making.
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