Divine Hira Jewellers IPO made a flat debut on the NSE SME on March 24, listing at ₹90 per share, the same as its IPO price.
Divine Hira Jewellers’ IPO was subscribed 3.93 times, with strong demand from retail investors (6.62x), while non-institutional buyers subscribed 1.2x and market makers 1x.
Divine Hira Jewellers’ IPO had a last GMP of ₹3, indicating an expected gain of 3.33%. However, the stock listed flat at ₹90 on March 24, 2025, exactly matching the issue price, resulting in no listing gain for investors.
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Details About Divine Hira Jewellers IPO
Divine Hira Jewellers’ ₹31.84 crore IPO ran from March 17-19, 2025, with a fixed price of ₹90 per share. Investors could apply for a minimum of 1,600 shares (₹1.44 lakh). The company reported ₹183.41 crore in revenue for 2024, with profits rising to ₹1.48 crore from ₹0.91 crore in 2023. Long-term investors may find it worth considering.
About Company
Divine Hira Jewellers Limited, incorporated in July 2022, specializes in designing and marketing high-quality 22 Karat gold jewelry. Based in Mumbai, Maharashtra, the company caters to wholesalers, showrooms, and retailers with a diverse range of products, including necklaces, mangalsutras, chains, rings, pendants, bangles, kadas, coins, and wedding jewelry. By blending traditional craftsmanship with contemporary elegance, the brand ensures its designs resonate with regional tastes.
Despite not having an in-house manufacturing facility, Divine Hira Jewellers sources gold from trusted bullion dealers and works closely with skilled artisans to maintain product quality. As of October 31, 2024, the company had nine employees managing various operations. Its strong market presence, extensive product portfolio, and established industry relationships contribute to its competitive edge in the jewelry sector.
Divine Hira Jewellers IPO funds deployment
Divine Hira Jewellers plans to utilize the IPO proceeds for multiple financial needs. A portion of the funds will go toward repaying or prepaying company loans, while another share will be allocated to managing working capital requirements. The remaining amount will be used for general corporate purposes to support overall business growth.
Financial Performance
Divine Hira Jewellers has shown fluctuating financial performance over recent years. As of September 2024, total assets stood at ₹28.54 crore, with revenue of ₹136.03 crore and a net profit of ₹2.50 crore. In March 2024, revenue was higher at ₹183.41 crore, but profit was lower at ₹1.48 crore. The company’s net worth has steadily grown from ₹3 crore in FY22 to ₹12.30 crore in FY24 (Sep), while borrowings have varied, peaking at ₹18.61 crore in March 2024.