Divine Hira Jewellers IPO: Check Offer Size, Price Band, GMP, Subscription Status And Other Key Details
As per InvestorGain, the latest GMP for Divine Hira Jewellers IPO stood at Rs 32 as of 9:32 a.m. on Mar. 17.
Divine Hira Jewellers Ltd. launched its initial public offering on Monday to raise Rs 31.84 crore from the primary market. The gold jewellery designer’s public offer will remain open for subscription till Mar. 19.
The Mumbai-based company specialises in designing and marketing premium 22-karat gold jewellery. It supplies its products to wholesalers, retailers and showrooms.
For those who want to participate in the Divine Hira Jewellers IPO subscription, here are the key details to check before submitting bids.
Divine Hira Jewellers IPO: Key Details
Divine Hira Jewellers is a fixed-price issue comprising a fresh issuance of 35.38 lakh shares. There is no offer-for-sale (OFS) component. The IPO price has been fixed at Rs 90 per share.
Retail investors can invest in the IPO with a minimum lot size of 1,600, amounting to an investment of Rs 1,44,000. The high net-worth individuals (HNIs) can invest in the IPO with bids for at least two lots of 3,200 shares, requiring a minimum investment of Rs 2,88,000.
Allotment of shares is scheduled to be finalised on Mar. 20. Credit of shares into the demat account of successful bidders will be done on Mar. 21. Refunds for the non-allottees will also be processed on the same day.
Shares of Divine Hira Jewellers Ltd. are scheduled to be listed on the NSE SME platform on Mar. 24.
Horizon Management Private Ltd. is the book-running lead manager of the Divine Hira Jewellers IPO. Bigshare Services Pvt Ltd is the registrar and Giriraj Stock Broking Private Ltd. is the market maker for the IPO.
Divine Hira Jewellers IPO Subscription Status
The Divine Hira Jewellers IPO has been subscribed 0.18 times as of 11:05 a.m. on Monday.
Non Institutional Investors: 0.01 times
Retail Investors: 0.35 times
*The subscription status will be updated at regular intervals
Divine Hira Jewellers IPO GMP Today
As per InvestorGain, the latest GMP for Divine Hira Jewellers IPO stood at Rs 32 as of 9:32 a.m. on Mar. 17. Shares of Divine Hira Jewellers are likely to list at a premium of 35.56% at Rs 122 each if the current GMP trends are sustained.
Note: GMP does not represent official data and is based on speculation.
Use of IPO Proceeds
The company will use net proceeds from the IPO to fund working capital requirements, repay borrowings, and carry out general corporate purposes.
Key Financials
Divine Hira Jewellers reported a 62.63% year-on-year rise in profit after tax to Rs 1.48 crore in FY24 from Rs 91.23 lakh in FY23. The company’s revenue declined to Rs 183.25 crore in FY24, down 25.6% from Rs 246.44 crore in the preceding fiscal.
