PNGS Reva Diamond Jewellery Limited has filed its Statement of Deviation or Variation in utilisation of funds raised, pursuant to Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular dated January 30, 2026. The statement, reviewed by the company's Audit Committee, pertains to the quarter ended March 31, 2026, and covers funds raised through its Initial Public Offer (IPO) of equity shares.

IPO Fund Raising Details

The company completed its public issue of equity shares on February 27, 2026, raising Rs. 37,951.52 Lakh. CARE Ratings Limited has been appointed as the monitoring agency to oversee the utilisation of these funds. The following table summarises the key parameters of the fund-raising disclosure:

Objects of the Issue

As stated in the Prospectus filed with the stock exchanges and SEBI, the IPO proceeds were earmarked for the following purposes:

• Setting up new stores: Funding expenditure towards setting up of 15 new brand-exclusive stores across India, with a focus on targeting Tier-1 cities and selectively exploring Tier-2 cities in Maharashtra and other metro cities in India.
• Marketing and promotional expenses: Expenses related to the launch of the 15 new stores, aimed at enhancing local brand awareness and visibility of the flagship brand, "Reva", in their respective areas.
• General corporate purposes.

Fund Utilisation Status

The statement details the allocation and utilisation of IPO proceeds as of the quarter ended March 31, 2026. No modification to the original objects has been reported, and no deviation or variation has been identified for the quarter.

Audit Committee Review

The Audit Committee reviewed the statement and recorded its comments as nil, with the report approved. No auditor comments were noted. The statement was signed by Director Amit Yeshwant Modak (DIN: 00396631) on May 11, 2026, from Pune. PNGS Reva Diamond Jewellery Limited, formerly known as Gadgil Metals & Commodities, is headquartered at 2nd Floor, Abhiruchi Mall, 59/1c, Wadgaon Budruk, Sinhagad Road, Pune – 411041.

Source: None/Company/INE1RDG01013/1709813ada9b4858.pdf

In a regulatory filing dated April 02, 2026, Govind Vishwanath Gadgil, a promoter of pngs reva diamond jewellery , formally declared that there have been no encumbrances on the company's shares during the financial year ended March 31, 2026. This declaration was submitted to the Chairman of the Audit Committee in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Declaration Details

The disclosure was made on behalf of Govind Vishwanath Gadgil, as well as the other promoters and members of the promoter group. The letter explicitly states that no shares were encumbered, directly or indirectly, by the promoters throughout the specified financial period. The communication was sent from the promoter's residence in Shaniwar Peth, Pune, to the company's headquarters located at Abhiruchi Mall, Sinhgad Road, Wadgaon Budruk, Pune.

Regulatory Compliance

The submission fulfills the requirements set forth by the Securities and Exchange Board of India (SEBI), ensuring transparency regarding the holding status of the promoters. The company, listed on the BSE with the scrip code 544718 and symbol PNGSREVA, has recorded this declaration for official purposes.

The declaration confirms that the promoters' shareholding remains free from any encumbrance as of the end of the fiscal year 2026.