PNGS Reva Diamond Jewellery IPO to List with Flat to Slight Discount on March 4

PNGS Reva Diamond Jewellery is set to debut on the BSE and NSE on March 4 following its Rs 380-crore IPO, which was subscribed 1.23 times and backed by Rs 171 crore from anchor investors. Grey market premiums indicate a likely flat to slightly discounted listing near the IPO price band of Rs 367-386. The company plans to use proceeds to open 15 new stores by 2028, fund marketing, and cover corporate expenses after separating its diamond jewellery business from P N Gadgil Sons Ltd.