PNGS Reva Diamond Jewellery IPO Day 1: Check subscription status, price band, lot size and key dates

PNGS Reva Diamond Jewellery IPO: The initial public offering of Pune-based PNGS Reva Diamond Jewellery Ltd opened for subscription on Tuesday, February 24. The issue will conclude on Thursday, February 26. The price band has been fixed at ₹367 to ₹386 per share.

The ₹380 crore initial share sale, with a price band of ₹367 to ₹386 per share, is a fresh issuance of 98 lakh shares, with no offer for sale (OFS) component.

The fresh issue proceeds will be utilised for setting up 15 new stores by the financial year 2027-28, marketing and promotional expenses related to opening these new stores in a bid to improve visibility of the flagship brand, "Reva", and corporate general purposes.

PNGS Reva Diamond Jewellery IPO Day 1: Subscription status

The subscription details for the first day of issue will be available post 10 am.

Prior to the IPO, the company collected nearly ₹171 crore from anchor investors, including Citigroup Global Markets Mauritius, Tata Mutual Fund (MF), Groww MF, Societe Generale, SageOne Investments, Innovative Vision Fund and Tiger Strategies Fund -I, among others. The company allocated 44,19,200 shares to these investors at the upper price band of ₹386 apiece.

PNGS Reva Diamond Jewellery IPO: Lot size

A lot consists of 32 shares and multiples thereafter. The company has set aside 75% of the net offer for qualified institutional buyers, 15% for non-institutional investors and 10% for retail investors.

PNGS Reva Diamond Jewellery IPO: Allotment and listing date

PNGS Reva Diamond Jewellery was formed after its promoter, P N Gadgil & Sons Limited, sold its diamond jewellery business through a slump sale. This transfer allowed PNGS Reva Diamond Jewellery to become a separate firm with its own identity while still operating in the diamond jewellery market.

The retail-focused company brand sells a wide range of diamond jewellery.

PNGS Reva Diamond Jewellery IPO GMP

According to investorgain.com and media reports, unlisted shares of PNGS Reva Diamond Jewellery Ltd are trading at ₹395, reflecting a grey market premium (GMP) of 2.33% over the upper price band of ₹386.