New Delhi, Feb. 25 -- PNGS Reva Diamond Jewellery IPO, which opened for subscription on February 24, has been subscribed over 59% as of the end of the first day of bidding. The mainboard IPO will close on Thursday, February 26.

PNGS Reva Diamond Jewellery was created after its promoter, P N Gadgil & Sons Ltd, transferred its diamond jewellery division via a slump sale, allowing the brand to operate independently in thesegment.

The company primarily focuses on retailing a wide range of diamond jewellery products and does not undertake exports. As of March 31, 2025, it operated 33 stores across 25 cities in Maharashtra, Gujarat, and Karnataka.

By the end of the first day, the issue was subscribed 0.59 times or 59%. The mainboard IPO attr...