Synopsis: The ₹380 crore PNGS Reva Diamond Jewellery IPO opens for public subscription today, February 24, 2026. With a price band of ₹367–₹386, the retail-focused brand aims to expand its showroom footprint. While anchor investors showed early interest, the grey market signals a cautious start for this pure fresh issue.
PNGS Reva Diamond IPO 2026
The Indian primary market remains high-octane as PNGS Reva Diamond Jewellery Limited officially enters the bidding arena today. The initial public offering (IPO), which remains open until February 26. It is a 100% fresh issue of 0.98 crore equity shares. Unlike many recent listings, there is no Offer for Sale (OFS) component, meaning the entire capital raised will flow into the company’s growth initiatives.
Issue Details and Subscription Status
The company has fixed the price band at ₹367 to ₹386 per share. For retail investors, the minimum lot size is 32 shares, requiring an initial investment of ₹12,352.
On Day 1, as of 11:30 AM, the employee quota saw the most traction (1.66x), while the retail portion stood at 0.18x. PNGS Reva Diamond successfully raised ₹171 crore from anchor investors just a day prior, providing a foundational vote of confidence.
The net proceeds will be used to establish 15 new brand-exclusive stores across Maharashtra and other Tier-1 cities. The company will also invest in aggressive marketing for its flagship “Reva” brand.
Also Read: Gaudium IVF IPO Day 1: Subscription Reaches 0.90x Driven by Retail Interest
GMP and Market Sentiment
In the unofficial grey market, the GMP stands at ₹17, indicating a listing premium of around 4.4%, though analysts note it has eased slightly from earlier highs.
Investors should closely monitor Qualified Institutional Buyers (QIB) participation on Days 2 and 3, as institutional demand often determines the final listing trajectory.
Key Financials & Risks
Specializing in gold and platinum-studded diamond ornaments, PNGS Reva caters to a premium demographic.
While the brand has established a strong presence in Maharashtra, the highly competitive nature of the organized jewelry retail sector remains a key risk factor.
The basis of allotment is expected to be finalized by February 27, with the tentative listing on the BSE and NSE scheduled for March 4, 2026.
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