PNGS Reva Diamond Jewellery Launches IPO to Spark Expansion with 15 New Stores

PNGS Reva Diamond Jewellery is launching an IPO to raise Rs 380 crore, primarily to fund the expansion of 15 new retail stores. The company plans to invest approximately Rs 287 crore in this expansion, with a focus on Maharashtra. The IPO also allocates funds for marketing expenses.

PNGS Reva Diamond Jewellery is set to make waves in the stock market with its initial public offering (IPO) designed to fuel expansion. The Pune-based company aims to raise Rs 380 crore, primarily to establish 15 new retail outlets with an investment plan of Rs 287 crore.

Key highlights include the decision to concentrate around 60 percent of these new stores in Maharashtra. Company-owned and operated, the initiative underscores PNGS Reva's commitment to deepening its domestic market presence, as highlighted by CEO Amit Modak.

The IPO also designates Rs 35.4 crore towards marketing the new stores. Despite financial growth in recent years, with a notable rise in revenue and profit, the company remains focused solely on the domestic market, holding no export sales.

(With inputs from agencies.)