New Delhi, 24 February (H.S.): PNGS Reva Diamond Jewellery Limited's ₹380 crore IPO opened for subscription today, targeting jewelry production expansion with bidding open until February 26.

Shares priced ₹367-₹386 (face value ₹10), lot size 32 shares (minimum retail ₹12,352; max ₹1,97,632 for 512 shares). Allotment February 27, demat credit March 2, BSE/NSE listing March 4. By noon, subscription languished at 0.05%.

QIBs 75% (anchor 44.94%), retail 10%, NII 15%. Book-running lead: Smart Horizon Capital; registrar: Bigshare Services. Anchors raised ₹170.58 crore Monday from 16 investors, led by Tata India Consumer Fund (₹40 Cr), Tiger Strategies (₹24 Cr), Sequoia Flagship (₹20 Cr).

FY23 PAT ₹51.75 Cr (revenue ₹199.35 Cr), FY24 ₹42.41 Cr (₹196.24 Cr), FY25 ₹59.47 Cr (₹259.11 Cr); H1 FY26 ₹20.13 Cr (₹157.12 Cr). Debt surged FY25 ₹90.65 Cr from zero; reserves flipped positive ₹95.33 Cr. EBITDA FY23 ₹68.73 Cr → FY24 ₹56.14 Cr → FY25 ₹79.61 Cr; H1 FY26 ₹30.79 Cr.

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Hindusthan Samachar / Jun Sarkar