What is the size of the PNGS Reva Diamond IPO?

The PNGS Reva Diamond IPO is a ₹380 crore offering composed entirely of new shares.

When will the PNGS Reva Diamond IPO be open for subscription?

The IPO will be open for subscription from Tuesday, February 24, to Thursday, February 26.

How will PNGS Reva Diamond use the funds from its IPO?

The company intends to use the IPO proceeds for setting up new stores, promotional expenses, and general corporate purposes.

Home / Business and Economy / PNGS Reva Diamond Eyes ₹380 Cr IPO

PNGS Reva Diamond Eyes ₹380 Cr IPO

13 Feb

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Summary

PNGS Reva Diamond IPO aims to raise ₹380 crore via fresh share sale.
The IPO will be open for subscription from February 24 to February 26.
Funds will be used for new stores, promotions, and general corporate needs.

The Indian stock market is experiencing a surge in primary market activity with the upcoming PNGS Reva Diamond IPO. This ₹380 crore offering consists entirely of new shares and is scheduled to open for public subscription on Tuesday, February 24, closing on Thursday, February 26.

PNGS Reva Diamond plans to strategically allocate the proceeds from this IPO towards establishing new retail outlets, covering promotional expenses, and supporting general corporate objectives. The subscription period allows for applications in lots of 32 shares, with a minimum investment requirement of ₹12,352 at the higher price band.

This offering reserves 75% for Qualified Institutional Buyers (QIBs), 10% for retail investors, and 15% for Non-Institutional Investors (NIIs). Share allotment is anticipated on Friday, February 27, with listings expected on the BSE and NSE on March 4. The company currently operates 34 stores across 25 cities in Maharashtra, Gujarat, and Karnataka, and is promoted by the prominent jeweler PN Gadgil.

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