PNGS Reva Diamond Jewellery Lists at Discount in Market Debut

PNGS Reva Diamond Jewellery debuted on the stock market on March 4, listing at a discount of around 3-4% below its IPO price of Rs 386. The Rs 380 crore IPO, fully subscribed 1.23 times, was a fresh issue aimed at funding 15 new stores, marketing, and corporate expenses. Shares opened at Rs 372 on BSE and Rs 375 on NSE amid broader market declines. The company was formed after P N Gadgil Sons transferred its diamond business to PNGS Reva, which operates as a separate retail-focused jewellery brand.