PNGS Reva Diamond Jewellery Makes Stock Market Debut with Premium Listing

Shares of PNGS Reva Diamond Jewellery Limited, a retail-focused jewellery brand offering an extensive range of diamond, precious and semi-precious stone jewellery, made a positive debut on the stock exchanges, closing with a 7.3% premium on listing day.

The strong debut came despite broad selling pressure across the market on Wednesday on BSE Sensex and NSE Nifty 50. After listing, the stock gained momentum and ended the session at ₹414 per share on the BSE, reflecting a 7.3% premium, while it closed at ₹411.7 per share on the NSE, up 6.7% over the issue price.

Trading activity remained robust on the first day. According to the National Stock Exchange of India, around 47.99 lakh shares were traded, while the Bombay Stock Exchange recorded a volume of 2.39 lakh shares. The combined turnover across both exchanges on debut day reached approximately ₹197 crore.

At the closing price, the company’s market capitalisation stood at ₹1,312.2 crore on BSE and ₹1,265.1 crore on NSE.

The company had launched its ₹380-crore IPO for subscription from February 24 to February 26, which was subscribed 1.23 times overall. The Qualified Institutional Buyers (QIB) segment was subscribed 1.04 times, while the Non-Institutional Investors (NII) portion saw 1.54 times subscription. The Retail Investor category was subscribed 1.29 times.

PNGS Reva Diamond Jewellery Limited operates as a retail-focused jewellery brand offering a wide selection of jewellery crafted with diamonds, precious and semi-precious stones set in precious metals such as gold and platinum. The company also sells plain platinum jewellery including rings, bracelets and chains, all marketed under its flagship brand Reva.

The company’s corporate promoter, P. N. Gadgil & Sons Limited, has long been involved in the jewellery business, dealing in gold and silver jewellery, idols, silverware, diamonds and gemstone jewellery. Under a Business Transfer Agreement dated January 31, 2025, the promoter strategically divested its diamond jewellery business to PNGS Reva through a slump sale. This restructuring established the company as an independent entity, enabling it to develop its own market identity while continuing operations in the diamond jewellery segment.