Upcoming IPO: P N Gadgil-promoted Reva Diamond Jewellery files DRHP to SEBI for ₹450 crore IPO

P N Gadgil-promoted, Reva Diamond Jewellery has filed its DRHP (Draft Red Herring Prospectus) with the Securities and Exchange Board of India (SEBI) for a ₹450 crore IPO on June 17, 2025. 

IPO Structure and Details

• The proposed issue is entirely a fresh issue of ₹450 crore with no Offer For Sale component. 
• The issue structure looks like
• Qualified Institutional Investors (QIBs): Not less than 75% of the Net Issue
• Non-Institutional Investors: Not more than 15% of the Net Issue
• Retail Investors: Not more than 10% of the Net Issue
• The equity shares are proposed to be listed on both NSE and BSE. 
• Smart Horizon Capital Advisors is the book-running lead manager, while Bigshare Services Private Limited is the registrar for the issue. 

Utilisation of Funds

The net proceeds from the fresh issue will be used towards: 

• Set up 15 new brand-exclusive stores across India’s Tier-I cities, Tier-2 cities in Maharashtra and other metro cities. 
• Marketing and promotional activities to promote 15 new stores. 
• General corporate purposes  

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Financial Performance

On the financial front, the company's revenue from operations has experienced fluctuations over the past three financial years. 

It declined marginally from ₹198.85 crore in Fiscal 2023 to ₹195.63 crore in Fiscal 2024. However, revenue rebounded significantly in Fiscal 2025, reaching ₹258.18 crore. This represents a compound annual growth rate (CAGR) of 13.95% over the period. Additionally, PAT (Profit After Tax) for fiscal 2025 stood at ₹59.47 crore. 

Company Profile

Reva Diamond Jewellery is a retail-focused jewellery brand engaged in the sale of a diverse range of fine jewellery featuring diamonds and precious and semi-precious stones, set in gold and platinum. Additionally, the company’s portfolio also includes platinum pieces, including rings, bracelets, and chains.

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