Shares of PNGS Reva Diamond Jewellery Limited, which is a retail focused jewellery brand involved in the business of sale of a wide range of jewellery made using diamond and precious and semi-precious stones, debut on the exchange to close at a 7.3% premium.
The PNGS Reva Diamond Jewellery stock’s 7.3% rise was in broad contrast to the broad selling pressure witnessed on Dalal Street on Wednesday.
Immediately after the listing, the stock showed upside movement and closed the day with a premium. The company’s share price closed at Rs 414 per share on the BSE, a 7.3% premium, and at Rs 411.7 per share on the NSE, a 6.7% premium.
As per NSE, the total quantity traded stood at 47.99 lakh shares, on BSE the total Quantity stood at 2.39 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 197 crore.
The Market Capitalisation of the Company at today’s closing price stood at Rs 1,312.2 crore as per BSE and Rs 1,265.1 crore as per NSE.
The company had offered Rs 380 crore issue for subscription from February 24 to February 26. The offer was subscribed nearly 1.23 times. Qualified Institutional Investors Portion and Non-institutional investor portion were subscribed 1.04 times and 1.54 times respectively. Retail Investors Portion was subscribed 1.29 times.
The company is a retail-focused jewellery brand involved in the business of sale of a wide range of jewellery made using diamond and precious and semi-precious stones, which are studded into precious metals such as gold and platinum. It also retails plain platinum jewellery including rings, bracelets and chains. The company’s products are sold under the flagship brand, Reva.
The company’s corporate promoter, P. N. Gadgil & Sons Limited was originally involved in the business of gold jewellery, silver jewellery, idols and other silverware, diamonds and diamond jewellery and other gemstones jewellery and related gift items. Pursuant to a business transfer agreement dated January 31, 2025, its corporate promoter, P. N. Gadgil & Sons Limited undertook a strategic move with a disinvestment via a slump sale of their diamond business in favour of the company (Business Transfer Agreement). This restructuring led to the establishment of the company as an independent business entity, allowing it to carve out its distinct identity in the market while continuing to operate in the diamond jewellery industry.
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