New Delhi, Feb. 23 -- PNGS Reva Diamond Jewellery IPO: The initial public offering (IPO) of PNGS Reva Diamond Jewellery is all set to open for subscription on Tuesday, February 24. The Rs.380-crore IPO will remain open till Thursday, February 26.

IPO is entirely a fresh issuance of 0.98 crore equity shares, with no offer-for-sale (OFS) component.

The company plans to utilise a substantial portion of the IPO proceeds toward the opening of 15 new stores, with part of the funds also earmarked for marketing and promotional activities related to these outlets. The remaining proceeds will be used for general corporate purposes, according to the red herring prspectus (RHP).

PNGS Reva Diamond Jewellery, incorporated in 2004, is engaged in the ...