Most IPO funds remain unused as store rollout is delayed

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PNGSREVA · price

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Price reactionminutes from the announcement price · days from the prior close

+7.8%Reaction day

₹546.00

prior close

₹555.50

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is usedpendingvs market: pending

Gems Jewellery And Watches peers, median of 29sector+0.6%+7.2% vs sector

On the reaction day the stock moved 7.2 pts more than its Gems Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.1

10m

+0.1

15m

+2.3

30m

+3.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+7.8pendingpending+0.6+7.2

Next day

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15d

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UpDownMarket · Nifty Microcap 250Sector · Gems Jewellery And Watches peers, median of 29Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

CARE Ratings' report for the quarter ended 30 September 2026 says PNGS Reva used ₹94.44 crore of its ₹379.51 crore IPO proceeds, leaving ₹285.07 crore unspent. Only ₹1.41 crore was deployed during the quarter. CARE found no deviation from the approved uses but noted delays, with revised timelines not yet finalised. Store setup missed its 31 March 2026 target by 64 days; the remaining rollout is now targeted through March 2028.

Likely market impact

The delayed store rollout and idle IPO funds may slow expansion. Deposit interest helps, but investors may stay cautious until deployment picks up.