By Admin 
PNGS Reva Diamond Jewelery IPO: The issue of jewelery sector company PNGS Rewa Diamond Jewelery has opened in the Indian primary market on 24 February. A day before this, the subscription date for anchor investors was kept on 23 February. The company has raised Rs 170.58 crore through anchor round.
In which a total of 44,19,200 shares were allotted at a price of Rs 386 per share. Let us know about the company IPO…
Raised Rs 170 crore from anchor investors
According to the press release, the company has been successful in raising Rs 170.58 crore from anchor investors through IPO. Institutional investors like Citigroup Global Markets Mauritius, Tata India Consumer Fund and Groww Mutual Fund have participated and invested in this portion.
Condition of the company on gray market?
If we look at the latest signals from the gray market, the IPO is getting a nominal premium. According to the report of Investors Gain, this issue is currently trading at a gray market premium of Rs 9. Which indicates a possible listing gain of about 2.33 percent.
Price band of shares and IPO size
PNGS Reva Diamond Jewelery has kept the price band between Rs 367 to Rs 386 per share for its IPO. Investors will have to buy a lot of 32 shares to place their stake in the company. That means, to apply for this, you will have to spend at least Rs 12,352. This public issue will be open from 24 to 26 February. Being a mainboard issue, its shares will be listed on both BSE and NSE.
The company is trying to raise Rs 380 crore through its IPO. The company is going to issue 98 lakh fresh shares. All shares will be issued fresh through the issue. That is, the money received from IPO will be used for the development work of the company.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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