PNGS Reva IPO Subscribed 83% on Day 2, QIBs and Retail Investors Lead

• PNGS Reva Diamond Jewellery IPO subscribed 83% on Day 2 of bidding.
• Qualified institutional buyers (QIBs) subscribed 96%, retail investors 66%.
• Company raised nearly Rs 171 crore from anchor investors; IPO closes Feb 26.
• Proceeds to fund 15 new stores by FY28 and marketing for 'Reva' brand.
• PNGS Reva operates as a separate entity after P N Gadgil & Sons Ltd divested its diamond jewellery business.