PNGS Reva Raises Rs 171 Cr from Anchor Investors; IPO Opens Tuesday

• PNGS Reva Diamond Jewellery secured nearly Rs 171 crore from anchor investors ahead of its IPO.
• Key participants included Citigroup Global Markets Mauritius, Societe Generale, Tata Mutual Fund, and Groww MF.
• The Rs 380-crore IPO opens on February 24 and closes on February 26, with a price band of Rs 367-386 per share.
• Proceeds will fund 15 new stores by FY2028, marketing, and general corporate purposes.
• The company plans to invest Rs 287 crore for new stores, with 60% in Maharashtra, focusing solely on domestic sales.