PNGS Reva Diamond Jewellery Opens Rs 380 Crore IPO to Fund Retail Expansion

PNGS Reva Diamond Jewellery launched its Rs 380 crore IPO from February 24 to 26, aiming to raise funds primarily for opening 15 new retail stores by fiscal 2028 and marketing expenses. The Pune-based company, operating 33-34 stores across Maharashtra, Gujarat, and Karnataka, raised nearly Rs 171 crore from anchor investors including Citigroup and Societe Generale. The IPO is a fresh equity issue priced between Rs 367-386 per share, with mixed brokerage views and initial subscription around 5 percent on day one.