PNGS Reva Diamond Jewellery Posts Weaker-than-Expected Debut on NSE

PNGS Reva Diamond Jewellery IPO Makes Weak Debut

Key Statistics:

• ₹380 crore: Issue size of the IPO
• ₹386: Issue price per share
• ₹375: Opening price on NSE, 2.85% lower than the issue price
• ₹372: Opening price on BSE, 3.63% lower than the issue price
• 1.23 times: Subscription rate for the IPO
• ₹171 crore: Amount secured from anchor investors
• ₹367-₹386: Price band for the IPO

IPO Details:

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PNGS Reva Diamond Jewellery Ltd, a Pune-based firm, made its stock market debut with a weak opening on the bourses. The company's IPO, worth ₹380 crore, was subscribed 1.23 times on the last day of the bidding process on Thursday. The IPO consists solely of a new issuance of equity shares without any component for sale.

Subscription Breakdown:

• 1.54 times: Subscription rate for non-institutional investors
• 1.29 times: Subscription rate for Retail Individual Investors (RIIs)
• 1.04 times: Subscription rate for Qualified Institutional Buyers (QIBs)

Grey Market Premium:

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The grey market premium for PNGS Reva Diamond Jewellery IPO is currently at -20, indicating a tendency towards a discount. According to experts, the estimated listing price of the shares is ₹366 apiece, which is 5.18% lower than the IPO price of ₹386.