PNGS Reva Diamond Jewellery Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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PNGS Reva Diamond Jewellery Limited filed its quarterly statement of fund utilization for the quarter ended March 31, 2026. The company raised Rs. 37,951.52 lakh (approximately Rs. 379.5 crore) through an IPO on February 27, 2026. Out of the allocated Rs. 37,951.50 lakh for setting up 15 new brand-exclusive stores, Rs. 3,969.43 lakh was utilized during the quarter. The filing confirms there is NO deviation or variation in the use of IPO proceeds. The Audit Committee reviewed and approved the report with nil comments. CARE Ratings Limited is the appointed monitoring agency.
This is a routine compliance filing confirming proper utilization of IPO funds as per the stated objects. No deviation means shareholders can be reassured that funds are being deployed according to the prospectus. The partial utilization (about 10.5% of allocated amount) indicates the expansion plan is in early execution phase.