PNGS Reva Diamond Jewellery IPO Update

As of the end of the first day of bidding, the PNGS Reva Diamond Jewellery mainboard IPO has been subscribed 59%, with bids for 33.83 lakh shares against the 57.06 lakh shares available on offer.

IPO Subscription Status

• Employee portion: oversubscribed 3.68 times
• NII (Non-Individual Investor) category: subscribed 0.07 times
• QIB (Qualified Institutional Buyer) category: subscribed 0.92 times
• Retail segment: subscribed 0.37 times

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Grey Market Premium (GMP)

The GMP of PNGS Reva Diamond Jewellery IPO has fallen to ₹1.5 from ₹9, indicating a potential listing price of ₹387.5 per share, reflecting a premium of 0.39% over the issue's upper price band of ₹386.

Brokerage Firm Reviews

• SBI Securities has given a 'neutral' rating to the IPO, citing the company's 23% PAT margins (FY25) and dependence on promoters.
• Swastika Investmart has recommended investors to 'avoid' the IPO for short-term or listing gains, citing its valuation and geographic diversification concerns.

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IPO Details

• Issue size: ₹380 crore through a completely fresh issue of 0.98 crore shares
• Price band: ₹367-₹386 per share
• Lot size: 32 shares
• Minimum investment: ₹12,352 for retail investors
• IPO allotment: expected to be finalised on February 27
• Refunds: to begin on March 2
• Shares crediting: to demat accounts of successful bidders on March 2