PNGS Reva Diamond Jewellery Limited has submitted its statement of deviation(s) or variation(s) under SEBI (LODR) Regulations, 2015, for the quarter ended September 30, 2026. The statement details the utilization of funds raised from its public issue of equity shares. The company reported that the funds raised, amounting to Rs. 37,951.52 Lakh, were allocated towards setting up new exclusive brand stores, marketing, promotional expenses, and general corporate purposes.
Quarterly Fund Utilization Disclosed
PNGS Reva Diamond Jewellery Limited has provided its mandatory statement regarding the utilization of funds raised from its Initial Public Offer (IPO). This filing, made pursuant to SEBI (LODR) Regulations, 2015, covers the quarter ending September 30, 2026. The company raised a total of Rs. 37,951.52 Lakh through the public issue of its equity shares on February 27, 2026.
Allocation and Utilization Details
The funds raised were primarily earmarked for three key objectives outlined in the prospectus: funding the establishment of 15 new brand-exclusive stores across India, covering marketing and promotional expenses for brand launch and awareness, and general corporate purposes. As of September 30, 2026, the company utilized Rs. 9,444.06 Lakhs of the raised funds, with no significant deviation reported in the allocation towards these stated objects.
Audit Committee Review
The statement of deviations or variations was reviewed by the Audit Committee, which reported its approval. The details provided in the table indicate the original objects, original and modified allocations, and the funds utilized during the quarter. The company has confirmed that the utilization aligns with the objects stated in the Prospectus filed with stock exchanges and SEBI.
Source: BSE
