National News
P. N. Gadgil & Sons Reva Diamond Jewellery Limited Files ₹3,800 Million IPO at ₹367–₹386 Price Band
Issue Opens February 24; Proceeds to Fund 15 New Stores, Marketing Push and Expansion Plans
Mumbai-based PNG Sons Reva Diamond Jewellery Limited has announced the price band of Rs.367 to Rs.386 per equity share (face value Rs.10 each) for its Rs.3,800 million initial public offering (IPO).
The IPO will open for subscription on February 24, 2026, and close on February 26, 2026. Investors can bid for a minimum of 32 equity shares and in multiples of 32 thereafter. The issue comprises a fresh issue aggregating up to Rs.3,800 million and is being offered through the book-building process. At least 75% of the net issue will be allocated to qualified institutional buyers (QIBs), up to 15% to non-institutional investors, and up to 10% to retail individual investors.
The company plans to utilise Rs.2,865.64 million from the proceeds towards capital expenditure for setting up 15 new stores. An additional Rs.354.00 million will be allocated for marketing and promotional activities to strengthen brand visibility for its flagship brand, Reva. The remaining funds will be used for general corporate purposes.
For the six months ended September 30, 2025, the company reported revenue from operations of Rs.1,567.18 million and a net profit of Rs.201.33 million. In FY25, revenue stood atRs.2,581.83 million, up from Rs.1,988.48 million in FY23, while net profit rose to Rs.594.74 million from Rs.517.47 million in FY23.
Precious metals extended their retreat for a second consecutive week as a firmer U.S. dollar and fading expectations of near-term interest-rate cuts from the Federal Reserve weighed on investor appetite for bullion.
In India, gold futures on the Multi Commodity Exchange settled below the ₹1.60-lakh mark per 10 grams at the close of trading on March 14, silver futures declined about 1% for the day, reflecting persistent selling pressure across the metals complex.
Global markets echoed the weakness. Spot gold slipped more than 1%, struggling to hold above $5,050 an ounce, while spot silver tumbled roughly 4% to trade near $80.50 an ounce.
The pullback comes as the strengthening dollar reduces the appeal of dollar-denominated commodities. At the same time, investors are recalibrating expectations that the Federal Reserve will move quickly to ease monetary policy, diminishing one of the key catalysts that had propelled bullion prices higher earlier this year.
Together, the firmer currency and shifting rate outlook have triggered broad profit-taking in precious metals, pushing both gold and silver to their second straight weekly decline.
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