PNGS Reva Diamond Jewellery IPO: The initial public offering (IPO) of PNGS Reva Diamond Jewellery, which opened for subscription on Tuesday, February 24, witnessed lacklustre demand for the company shares. However, the IPO managed to sail through on the last and final day of bidding.
PNGS Reva Diamond Jewellery IPO subscription status
At the end of the third day of the bidding process, PNGS Reva Diamond Jewellery IPO received bids for 70,31,776 shares against the total offer of 57,06,235 shares, resulting in an overall subscription of 1.23 times, according to exchange data.
Among the investor categories, the employee segment showed strong interest in the issue, with the portion reserved for employees oversubscribed 6.74 times at the end of the final day. The NII and QIB segments were subscribed 1.54 times and 1.04 times, respectively, according to exchange data. The retail segment was subscribed 1.29 times.
PNGS Reva Diamond Jewellery IPO details
The IPO size of PNGS Reva Diamond Jewellery is ₹380 crore, which is entirely a fresh issue of 0.98 crore shares. The price band has been fixed at ₹367– ₹386 per share, while the lot size is set at 32 shares, requiring a minimum investment of ₹12,352 for retail investors.
PNGS Reva Diamond Jewellery IPO allotment is slated to be finalised on Friday, February 27. The company aims to initiate refunds beginning Monday, March 2, with shares being credited to the demat accounts of successful applicants later that same day after the refunds are processed.
Of the overall proceeds, PNGS Reva Diamond Jewellery intends to allocate ₹286 crore towards the setting up of 15 new stores, whereas ₹35.40 crore will be used to meet marketing and promotional expenses related to the launch of these stores. The remaining funds will be utilised for general corporate purposes.
PNGS Reva Diamond Jewellery GMP today
PNGS Reva Diamond Jewellery IPO GMP (grey market premium) has dropped to nil, indicating that the stock might list at the same price as the IPO price.
The GMP represents the expected difference between an IPO’s issue price and its anticipated listing price in the unofficial market. However, it’s important to note that the GMP is merely an early indicator and should not be relied upon as the sole factor in investment decisions.
About PNGS Reva Diamond Jewellery
PNGS Reva Diamond Jewellery is a retail-focused jewellery brand engaged in the sale of a wide range of jewellery made using diamonds and precious and semi-precious stones, which are studded into precious metals such as gold and platinum.
It also retails plain platinum jewellery, including rings, bracelets, and chains. Its products are sold under the flagship brand “Reva.” The Reva brand aims to blend traditional elegance with modern aesthetics, offering customisable diamond jewellery that appeals to a broad customer base, as per the company’s RHP report.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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