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Diamond Jeweler IPO Sails Through on Final Day of Bidding
26 Feb
Summary
- PNGS Reva Diamond Jewellery IPO subscription closed on its final day.
- Employee segment saw over 6 times subscription, others varied.
- Funds will establish 15 new stores and for marketing.
The initial public offering for PNGS Reva Diamond Jewellery successfully completed its subscription period on its final day, February 26, 2026. While overall demand was initially subdued, the IPO ultimately achieved its subscription goals.
The employee investment category demonstrated robust interest, being oversubscribed by 6.74 times. Other investor segments, including Non-Institutional Investors (NII), Qualified Institutional Buyers (QIB), and retail investors, also contributed, with subscription rates exceeding 1 time.
Following the allotment finalization on Friday, February 27, 2026, refunds are scheduled to commence on Monday, March 2, 2026. Successful applicants will see shares credited to their demat accounts the same day.
PNGS Reva Diamond Jewellery intends to allocate a significant portion of the IPO proceeds, amounting to ₹286 crore, towards the establishment of 15 new retail outlets. An additional ₹35.40 crore is designated for marketing and promotional activities linked to these new store launches, with the remaining funds reserved for general corporate purposes.
The company's 'Reva' brand focuses on customizable diamond and plain platinum jewellery, blending traditional designs with modern aesthetics to appeal to a wide customer base.
