PNGS Reva Diamond Jewellery IPO: The initial public offering (IPO) of PNGS Reva Diamond Jewellery is all set to open for subscription on Tuesday, February 24. The ₹380-crore IPO will remain open till Thursday, February 26.
IPO is entirely a fresh issuance of 0.98 crore equity shares, with no offer-for-sale (OFS) component.
The company plans to utilise a substantial portion of the IPO proceeds toward the opening of 15 new stores, with part of the funds also earmarked for marketing and promotional activities related to these outlets. The remaining proceeds will be used for general corporate purposes, according to the red herring prspectus (RHP).
PNGS Reva Diamond Jewellery, incorporated in 2004, is engaged in the retail of diamond jewellery, offering a wide range of designs crafted with diamonds as well as precious and semi-precious stones under its flagship brand, “Reva.”
The company currently operates 34 stores across 25 cities in Maharashtra, Gujarat, and Karnataka.
PNGS Reva Diamond Jewellery IPO: Key things to know
Here are 10 things to know about PNGS Reva Diamond Jewellery IPO before the mainboard public offer opens for subscription:
1. PNGS Reva Diamond Jewellery IPO date: The IPO will open for subscription on February 24 and close on February 26.
2. PNGS Reva Diamond Jewellery IPO price band: The price band of the IPO has been fixed at ₹367 to ₹386 per share.
3. PNGS Reva Diamond Jewellery IPO size: The IPO is a book-build issue of ₹380 crore and is entirely a fresh issue of 0.98 crore shares.
4. PNGS Reva Diamond Jewellery IPO lot size: The lot size for an application is 32. The minimum amount of investment required by a retail investor is ₹12,352, based on the upper end of the price band.
5. PNGS Reva Diamond Jewellery IPO promoters: P.N. Gadgil & Sons Limited, Govind Vishwanath Gadgil and Renu Govind Gadgil are the promoters of the company.
6. PNGS Reva Diamond Jewellery IPO allotment date: The allotment is likely to be finalised on February 27. Investors can expect the shares to be credited to their demat accounts on March 2, with the refund to non-allottees expected on the same day.
7. PNGS Reva Diamond Jewellery IPO listing date: PNGS Reva Diamond Jewellery IPO shares will list on BSE and NSE, with the tentative listing date fixed as March 4.
8. PNGS Reva Diamond Jewellery IPO book-running manager: The book-running lead manager of the IPO is Smart Horizon Capital Advisors.
9. PNGS Reva Diamond Jewellery IPO registrar: The registrar of the IPO is Bigshare Services.
10. PNGS Reva Diamond Jewellery IPO GMP: The current GMP of PNGS Reva Diamond Jewellery IPO is +12, according to Investorgain.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
