PNGS Reva Diamond Jewelery IPO: Today is the last day of IPO, 83% subscribed in two days, know how much you can invest?

PNGS Reva Diamond Jewelery IPO: Today, 26th February, is the last day of PNGS Reva Diamond Jewelery IPO. It was opened for subscription on 24 February. Within two days, the IPO has been subscribed 83%. The company aims to raise Rs 380 crore through this IPO.

Price Band 367 to 386

The company has fixed the price band of Rs 367 to Rs 386 per share. Investors can bid for a minimum lot of 32 shares, with an upper limit of Rs 12,352. A maximum of Rs 197,632 can be invested.

10% reserve for retail investors

The company has reserved 10% of the IPO for retail investors. 75% is for qualified institutional buyers (QIBs) and 15% is for non-institutional bidders.

Funds will be used to open new stores

The company will use the money raised from this issue to open 15 new stores and for marketing and branding. Most of these stores will be in Tier-1 and some Tier-2 cities of Maharashtra as well as metro cities across the country. As of March 31, 2025, the company has 34 stores across 25 cities in Maharashtra, Gujarat and Karnataka.

What is IPO?

When a company issues its shares to the public for the first time, it is called Initial Public Offering (IPO). The company needs money to expand its business. In such a situation, instead of borrowing from the market, the company raises money by selling some shares to the public or issuing new shares. For this reason the company issues IPO.