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PNGS Reva Diamond Jewellery Files IPO Draft with Sebi to Raise ₹450 Crore; Plans 15 New Stores by FY28

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PNGS Reva Diamond Jewellery, a Pune-based diamond jewellery brand, has submitted preliminary documents to the Securities and Exchange Board of India (Sebi) to raise ₹450 crore through an initial public offering (IPO). The IPO will consist entirely of a fresh issue of equity shares, according to the draft red herring prospectus (DRHP) filed on Tuesday.

The company plans to utilize a significant portion of the IPO proceeds, amounting to ₹286.56 crore, for the establishment of 15 new stores by the end of the financial year 2028. Additionally, ₹35.40 crore will be allocated for marketing and promotional activities related to the launch of these new stores. These initiatives aim to enhance the visibility and market presence of the company’s flagship brand, “Reva.” A portion of the funds will also be used for general corporate purposes.

PNGS Reva Diamond Jewellery was formed after its promoter, P N Gadgil & Sons Ltd, divested its diamond jewellery business through a slump sale. This strategic move led to the creation of PNGS Reva as a separate entity with its own identity, enabling it to operate independently while continuing to serve the diamond jewellery segment.

The company is a retail-focused jewellery brand engaged in the sale of a wide variety of jewellery products. As of March 31, 2025, PNGS Reva Diamond Jewellery operated 33 stores spread across 25 cities in Maharashtra, Gujarat, and Karnataka.

On the financial front, the company has demonstrated strong growth. Revenue from operations increased by 32 per cent to ₹258.18 crore in the financial year 2025, up from ₹195.63 crore in the previous fiscal. Net profit also registered a robust growth of 40 per cent, rising to ₹59.47 crore in FY25 from ₹42.41 crore in FY24.

Smart Horizon Capital Advisors has been appointed as the sole book-running lead manager for the issue. The company’s equity shares are proposed to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

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PNG Jewellers Marks 25 Years Of Paud Road Store With ‘Choosing Gold’ Marathi Edition Launch By Actress Shreya Bugade

Launched Within Three Months Of The English Edition, The Marathi Memoir Was Unveiled In The Presence Of Actress Shreya Bugade At PNG Jewellers’ Paud Road Store.

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Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, launched the Marathi edition of his debut memoir, Choosing Gold, in Pune, in the presence of popular Marathi actress Shreya Bugade. The Marathi edition comes just three months after the book’s English release in August 2026, bringing Dr Gadgil’s personal and professional journey closer to readers in his mother tongue. The launch took place at PNG Jewellers’ Paud Road store, which also celebrated 25 glorious years of serving customers and building lasting relationships in Pune.

Choosing Gold offers a deeply personal account of Dr. Gadgil’s journey as the sixth-generation custodian of PNG Jewellers, one of India’s oldest and most respected jewellery businesses with a legacy spanning 194 years. Originally published in English by Penguin Random House India in August 2026, the memoir reflects on the challenges, defining decisions and experiences that shaped his leadership and the evolution of the business. With the launch of its Marathi edition, this journey now reaches readers in a language closely connected to Dr. Gadgil’s upbringing, family and roots.

More than the story of a successful entrepreneur, Choosing Gold is an honest reflection on the responsibility of carrying forward a legacy while finding one’s own identity. Having taken over the leadership of PNG Jewellers, Dr. Gadgil navigated several defining moments that tested his conviction and shaped his outlook. The memoir revisits the lessons learned from setbacks, conversations with his grandfather and mother that stayed with him over the years, and personal experiences that influenced his decisions. It also offers insight into his approach to leading and transforming a nearly two-century-old family business while remaining rooted in the values on which it was built.

Speaking on the launch, Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers, said:

“Ever since the English edition of Choosing Gold was released, I had been eagerly looking forward to bringing the book to Marathi readers. Marathi is my mother tongue, and seeing my experiences, decisions and learnings reach readers in my own language is a moment of immense pride and happiness for me. Writing this book allowed me to revisit several moments in my life. Some decisions worked out, some did not, and the significance of a few became clear only years later. Each of these experiences has shaped the person I am today. My family’s values, the rich legacy of PNG Jewellers and the trust our customers have placed in us have all played an important role in this journey.

I am particularly happy that the Marathi edition will allow me to connect with readers in a more personal way. If even one experience from my journey helps someone approach a difficult decision with greater confidence, I would consider the purpose of this book fulfilled.”


Popular Marathi actress Shreya Bugade, who graced the occasion as the chief guest, said:

“It is truly an honour to be part of the launch of the Marathi edition of Dr. Saurabh Gadgil’s Choosing Gold. What makes this occasion even more special is that we are also celebrating 25 glorious years of PNG Jewellers’ Paud Road store. It is a double celebration, and I am delighted to be part of it.”

The launch of the Marathi edition marks another significant milestone in Dr. Gadgil’s journey as an author. Going beyond the world of business, the memoir explores leadership, family, relationships, responsibility and the importance of believing in one’s decisions. Its themes extend beyond entrepreneurs and business professionals, offering relatable experiences and reflections for readers navigating their own ambitions, challenges and choices.

The occasion also marked the silver jubilee of PNG Jewellers’ Paud Road store, celebrating 25 glorious years of customer trust and relationships. Over the past two and a half decades, the store has built a strong connection with generations of customers in the neighbourhood, making it an important part of PNG Jewellers’ journey in Pune.

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