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Time of India
3 days ago
- Business
- Time of India
Pune-based PNGS Reva Diamond Jewellery files draft papers for Rs 450 crore IPO
PNGS Reva Diamond Jewellery , a retail-focused jewellery brand headquartered in Pune, has filed its Draft Red Herring Prospectus (DRHP) with Sebi to raise Rs 450 crore through an initial public offering (IPO). The issue will be entirely a fresh equity offering with a face value of Rs 10 per share. According to the DRHP, the proceeds from the IPO will be used primarily to support expansion. The company plans to allocate Rs 286.56 crore to set up 15 new stores by FY2028 and an additional Rs 35.40 crore towards marketing and promotional expenses to boost visibility for its flagship brand 'Reva.' The remaining funds will be utilised for general corporate purposes. The IPO will be conducted through the book-building route, with 75% of the net issue reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and the remaining 10% for retail individual investors. The company was formed following a slump sale of the diamond business by its corporate promoter, P.N. Gadgil & Sons Limited. This strategic disinvestment allowed PNGS Reva to emerge as a distinct entity while continuing operations in the diamond and precious jewellery segment. Its products are marketed under the brand 'Reva,' known for blending tradition with modernity through daily wear and occasion-driven collections. PNGS Reva designs and markets a variety of jewellery made using diamonds, precious and semi-precious stones, set in gold and platinum. Its offerings include curated collections developed both in-house and through third-party manufacturers. Product pricing starts at approximately Rs 20,000 and extends to high-value bespoke pieces. As of March 31, 2025, the company had 33 shop-in-shop outlets spread across 25 cities in Maharashtra, Gujarat, and Karnataka. These stores operate on a FOCO (franchise owned, company operated) and FOFO (franchise owned, franchise operated) model, covering a total retail space of 599.15 running feet. Financially, the company reported a 31.97% increase in revenue from operations in FY2025 to Rs 258.18 crore, with net profit rising 40.22% to Rs 59.47 crore. Smart Horizon Capital Advisors is the sole book-running lead manager to the issue, and Bigshare Services is the registrar. The shares are proposed to be listed on the NSE and BSE.
Economic Times
3 days ago
- Business
- Economic Times
Pune-based PNGS Reva Diamond Jewellery files draft papers for Rs 450 crore IPO
PNGS Reva Diamond Jewellery, a retail-focused jewellery brand headquartered in Pune, has filed its Draft Red Herring Prospectus (DRHP) with Sebi to raise Rs 450 crore through an initial public offering (IPO). The issue will be entirely a fresh equity offering with a face value of Rs 10 per share. ADVERTISEMENT According to the DRHP, the proceeds from the IPO will be used primarily to support expansion. The company plans to allocate Rs 286.56 crore to set up 15 new stores by FY2028 and an additional Rs 35.40 crore towards marketing and promotional expenses to boost visibility for its flagship brand 'Reva.' The remaining funds will be utilised for general corporate purposes. The IPO will be conducted through the book-building route, with 75% of the net issue reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and the remaining 10% for retail individual investors. The company was formed following a slump sale of the diamond business by its corporate promoter, P.N. Gadgil & Sons Limited. This strategic disinvestment allowed PNGS Reva to emerge as a distinct entity while continuing operations in the diamond and precious jewellery segment. Its products are marketed under the brand 'Reva,' known for blending tradition with modernity through daily wear and occasion-driven Reva designs and markets a variety of jewellery made using diamonds, precious and semi-precious stones, set in gold and platinum. Its offerings include curated collections developed both in-house and through third-party manufacturers. Product pricing starts at approximately Rs 20,000 and extends to high-value bespoke of March 31, 2025, the company had 33 shop-in-shop outlets spread across 25 cities in Maharashtra, Gujarat, and Karnataka. These stores operate on a FOCO (franchise owned, company operated) and FOFO (franchise owned, franchise operated) model, covering a total retail space of 599.15 running feet. ADVERTISEMENT Financially, the company reported a 31.97% increase in revenue from operations in FY2025 to Rs 258.18 crore, with net profit rising 40.22% to Rs 59.47 Horizon Capital Advisors is the sole book-running lead manager to the issue, and Bigshare Services is the registrar. The shares are proposed to be listed on the NSE and BSE. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
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Business Standard
3 days ago
- Business
- Business Standard
Upcoming IPO: PNGS Reva Diamond Jewellery files DRHP with Sebi; details
Upcoming IPO: Pune-based Jewellery Player PNGS Reva Diamond Jewellery is inching close to going public as the company has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (Sebi) for its initial public offering (IPO). PNGS Reva Diamond Jewellery IPO details PNGS Reva Diamond Jewellery aims to raise ₹450 crore through the public offering, which comprises an entirely fresh issue of equity shares with a face value of ₹10 apiece. The issue is being made through the book-building process, wherein at least 75 per cent of the net issue is allocated to qualified institutional buyers, and not more than 15 per cent and 10 per cent of the net issue is assigned to non-institutional investors and retail individual investors, respectively. The proceeds from the fresh issue, to the extent of ₹286.56 crore, PNGS Reva Diamond Jewellery said, will be used for funding expenditure towards the setting-up of 15 new stores by Fiscal 2028. The company will further use ₹35.40 crore for marketing and promotional expenses related to the launch of the 15 new stores, aimed at enhancing local brand awareness and visibility of its flagship brand, 'Reva', in their respective areas; and general corporate purposes. For the public offering of PNGS Reva Diamond Jewellery, Bigshare Services serves as the registrar of the issue, while Smart Horizon Capital Advisors is the sole book-running lead manager. The equity shares are proposed to be listed on the National Stock Exchange of India (NSE) and BSE. About PNGS Reva Diamond Jewellery PNGS Reva Diamond Jewellery products are sold under its flagship brand, 'Reva'. The company focuses on designing and marketing a diverse range of diamond and precious and semi-precious stone jewellery, which is made in precious metals such as gold and platinum, catering to various customer segments. PNGS Reva Diamond Jewellery also retails plain platinum jewellery including rings, bracelets, and chains. PNGS Reva Diamond Jewellery's revenue from operations increased by 31.97 per cent year-on-year (Y-o-Y) to ₹258.18 crore in Fiscal 2025 (FY25) from ₹195.63 crore in Fiscal 2024 (FY24), primarily attributed to an increase in the sale of diamond-studded jewellery, which includes precious stones, domestically. The company's profit for the year increased by 40.22 per cent Y-o-Y to ₹59.47 crore in FY25 from ₹42.41 crore in
Mint
3 days ago
- Business
- Mint
IPO Watch: PNGS Reva Diamond Jewellery files draft papers for ₹450 crore IPO
IPO Watch: Pune-based jeweller PNGS Reva Diamond Jewellery has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) to secure ₹ 450 crore through an Initial Public Offering (IPO). PNGS Reva Diamond Jewellery is a retail-focused jewellery brand engaged in selling a diverse array of jewellery crafted from diamonds and precious and semi-precious stones set in precious metals like gold and platinum. The company was established following a strategic disinvestment by its corporate promoter, P.N. Gadgil & Sons Limited, who completed a slump sale of their diamond division. This business transfer agreement allowed PNGS Reva Diamond Jewellery to create a separate identity in the market while continuing its activities in the diamond jewellery sector. Its products are marketed under the flagship brand "Reva," which highlights craftsmanship and customer focus to meet the preferences of modern consumers, offering a collection of daily wear, occasion-focused, and naturally diamond-studded jewellery. As of March 31, 2025, the company operated 33 stores in 25 cities across Maharashtra, Gujarat, and Karnataka, totaling an area of 599.15 running feet. These stores are categorized into two types: franchise owned and company operated (FOCO), and franchise owned and franchise operated (FOFO). PNGS Reva Diamond Jewellery's operational revenue surged by 31.97% to ₹ 258.18 crore in fiscal 2025, up from ₹ 195.63 crore in fiscal 2024, mainly due to increased sales of diamond-studded jewellery, including precious stones, within the domestic market. The company's profit for the year grew by 40.22%, rising from ₹ 42.41 crore in fiscal 2024 to ₹ 59.47 crore in fiscal 2025. The funds raised from the new issue, amounting to ₹ 286.56 crore, will be allocated for establishing 15 new stores by the end of fiscal 2028. An additional ₹ 35.40 crore will be designated for marketing and promotional activities linked to the launch of these 15 new stores, with the goal of increasing local brand recognition and visibility for their flagship brand, 'Reva,' in those areas. The sole book-running lead manager for this issue is Smart Horizon Capital Advisors Private Limited, while Bigshare Services Private Limited serves as the registrar.
Yahoo
12-06-2025
- Business
- Yahoo
Ssense Elevates Federico Barassi to Vice President, Buying
Ssense, the Montreal-based multibrand retailer of designer fashion and streetwear, has made some key changes in its buying roles. Brigitte Chartrand, vice president, womenswear buying, has exited the company, and Ssense will unify all buying teams under the leadership of Federico Barassi, vice president, buying. Barassi, who has been with Ssense for over 17 years, was most recently vice president of menswear. He joined the company in 2008 as senior menswear buyer and rose through the buying ranks. Earlier he was a menswear buyer for Hugo Boss in Montreal. More from WWD Tory Burch's Iconic Reva Ballet Flat From the 2000s Makes Its Return With Help From Ssense Tory Burch's Iconic Reva Ballet Flat From the 2000s Makes Its Return With Help From Ssense Fast Fashion, Resale Rise While Luxury Falls, According to Spending Report Chartrand had been with Ssense for over 11 years, starting as womenswear buying manager. She rose to senior director of womenswear buying before assuming her current post as vice president of womenswear in February 2020. She is also the founder of Reborn, a Montreal boutique, operating that business from 2005 to 2014. 'My time at Ssense has been incredibly rewarding, and I'm proud of what we've achieved together, I leave with full confidence in the exceptional team at Ssense and look forward to watching the company's continued success,' said Chartrand in a statement. Chartrand was unavailable Thursday to comment on her plans. Rami Atallah, chief executive officer and cofounder of Ssense, said, 'At Ssense, our purpose is to champion emerging and culturally impactful designers. With Brigitte's departure, we are proud to elevate internal leaders who embody the vision and values that define Ssense. Looking ahead, all buying categories will be unified under the direct leadership of Federico Barassi, vice president, buying.' Ssense has elevated key team members to leadership roles within womenswear, menswear and the rest of the categories. These strategic advancements reflect the company's commitment to talent development and creating significant growth opportunities within Ssense, according to the company. Best of WWD EXCLUSIVE: Maje Names Charlotte Tasset Ferrec CEO Nadja Swarovski Exits Family Company Amid Ongoing Corporate Shakeup Aeffe MD Exits Fashion Group
