The initial public offer (IPO) Divine Hira Jewellers received bids for 22,76,800 shares as against 35,37,600 shares on offer, as per NSE data as of 17:00 hours on 17 March 2025. The issue was subscribed 0.64%.

The issue opened for bidding on 17 March 2025, and it will close on 19 March 2025. The price of the IPO is fixed at Rs 90 per share. The minimum order quantity is 1,600 equity shares. The equity shares will list on NSE’s SME platform.

The IPO comprises a fresh issue of 3,537,600 shares. The promoter and promoter shareholding will dilute to 72.70% from 99.74% pre-IPO.

About 1,77,600 equity shares will be reserved for subscription by the market maker to the issue. The net issue comprises of 33,60,000 equity shares. The issue and the net issue will constitute 27.11% and 25.75% respectively of the post-offer paid-up equity share capital of the company.

The company intends to utilize the net fresh issue proceeds for prepayment or repayment of all or a portion of certain availed by the company, funding of working capital requirements of the company, and for general corporate purposes.

Divine Hira Jewellers specializes in the design and marketing of gold jewelry, primarily dealing in 22 karat gold. The company offers a wide variety of designs to cater to the diverse preferences of its customers. Serving wholesalers, showrooms, and retailers, Divine Hira Jewellers blends traditional artistry with modern elegance. Their collection includes necklaces, mangalsutras, chains, malas, rings, pendants, bracelets, bangles, kadas, coins, and wedding jewelry. The company places a strong emphasis on localized design to resonate with regional tastes. Based in Mumbai, Maharashtra, Divine Hira Jewellers also deals in silver articles, bullions, and coins. As of 31 October 2024, the company employed 9 people across various departments.

The company recorded revenue from operations of Rs 135.97 crore and net profit of Rs 2.49 crore for the period as of 30 September 2024.