Striders Impex’s public share offering continues to generate attention as it progresses through its subscription…
Grey Market Buzz: PNGS Reva Diamond IPO Gains & Trends
Grey market activity and investor interest in the PNGS Reva Diamond IPO have been evolving as the issue’s subscription phase continues. The IPO opened for subscription on 24 February 2026 and will close on 26 February 2026, with the company seeking to raise around ₹380 crore by issuing fresh equity shares. The price band for the offer is set between ₹367 and ₹386 per share, and the minimum lot size for bidding is 32 shares per application. The IPO is earmarked for listing on both the BSE and NSE in early March 2026.
PNGS Reva Diamond IPO GMP Trend
| Date | IPO GMP | GMP Trend | Gain |
|---|---|---|---|
| 25 Feb | ₹2 | 0.51% | |
| 24 Feb | ₹9 | 2.33% | |
| 23 Feb | ₹18 | 4.66% | |
| 21 Feb | ₹17 | 4.40% | |
| 20 Feb | ₹18 | 4.66% | |
| 19 Feb | ₹15 | 3.89% | |
| 18 Feb | ₹18 | 4.66% |
The grey market premium has shifted since mid‑February, reflecting changing sentiment among unofficial market participants. On 25 February, the IPO’s GMP was quoted at ₹2, signaling an estimated gain of around 0.51% over the upper end of the issue price. Earlier in the period, GMPs reached higher levels before receding closer to the subscription timeframe.
PNGS Reva Diamond IPO Subscription Status — Day 2
| Category | Day 1 | Day 2 |
|---|---|---|
| QIB | 0.96 | 1.01 |
| NII | 0.07 | 0.69 |
| bNII | 0.06 | 0.86 |
| sNII | 0.10 | 0.33 |
| RII | 0.41 | 0.71 |
| EMP | 3.98 | 5.00 |
| Total | 0.63 | 0.87 |
Subscription data up to the second day shows that institutional demand has gained momentum, with Qualified Institutional Buyers (QIB) slightly oversubscribing their quota by 1.01 times on Day 2. Retail investor participation has also increased compared with the first day, and the employee category remains significantly oversubscribed. Overall, the IPO saw total subscription climb to 0.87 times on Day 2 of bidding.
As the final day of bidding approaches, investor interest in the PNGS Reva Diamond IPO—both in the grey market and in formal subscription metrics—will be closely watched for indications of how the shares might perform on their planned listing on 4 March 2026.
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