PNGS Reva Diamond Jewellery debuts with 7% premium

New Delhi: Shares of PNGS Reva Diamond Jewellery Ltd ended with a premium of over 7 per cent against the issue price of Rs 386 on Wednesday. The stock started trading at Rs 372, a decline of 3.62 per cent from the issue price on the BSE.

But, later the stock recovered all the early lost ground and ended at Rs 413.95, up 7.24 per cent. At the NSE, it listed at Rs 375, registering a discount of 2.84 per cent from the issue price. Shares of the firm later ended at Rs 411.70, a jump of 6.65 per cent. The company’s market valuation stood at Rs 1,312.16 crore.

The stock made its market debut on a day when the equity markets tumbled as the conflict in West Asia widened. The 30-share BSE Sensex tanked 1,122.66 points or 1.40 per cent to end at 79,116.19.

The 50-share NSE Nifty declined 385.20 points or 1.55 per cent to 24,480.50. The initial public offer of PNGS Reva Diamond Jewellery Ltd got subscribed 1.23 times on the final day of bidding on Thursday last week.