New Delhi, Feb. 26 -- PNGS Reva Diamond Jewellery IPO: The initial public offering of PNGS Reva Diamond Jewellery, which is looking to raise Rs.380 crore, has witnessed weak demand.

The issue opened for subscription on February 24 and will close today, Thursday, February 26. The PNGS Reva Diamond Jewellery IPO price band has been set in the range of Rs.368-386 per share.

Investor sentiment toward the IPO is weak, as PNGC Reva grey market premium (GMP) shows discounted price of Rs.-1 on February 26. This suggested that the stock was likely to debut at Rs.385, down 0.26% from IPO price.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

The IPO was subscribed 0.86 times by 10:43 am on Day 3. The retai...