Divine Hira Jewellers IPO allotment: How to check status online on Bigshare Services, NSE

Divine Hira Jewellers IPO allotment status is expected to be finalised on Thursday, March 20. The NSE SME issue closed for bidding on Wednesday, March 19.

The initial share sale closed with decent demand, as the issue was booked nearly 4 times on the final day of bidding. The IPO attracted bids for more than 1.33 crore shares against 33.6 lakh shares on offer.

The retail investors’ portion was the most subscribed at 6.62 times, with bids for over 1.11 crore shares, compared to 16.8 lakh shares on offer. Meanwhile, the non-institutional investors’ (NIIs) segment was bought 1.27 times, with bids for 21.34 lakh shares compared to 16.8 lakh shares reserved for the category. In the Qualified Institutional Buyers (QIBs) category the IPO received applications for only 56,000 shares.

Investors who have placed bids for the Divine Hira Jewellers IPO will now be awaiting the finalisation of the share allotment process. Investors can check the status online on Thursday on the website of either the National Stock Exchange of India (NSE) or the IPO registrar Bigshare Services Pvt. Ltd.

How to check Divine Hira Jewellers IPO allotment status on Bigshare Services

• Open the IPO allotment status page on Bigshare Services website: https://www.bigshareonline.com/ipo_allotment.html
• Choose any of the server links from the three options
• Select ‘Divine Hira Jewellers’ from the drop-down menu for company names
• Choose any of these options to identify yourself -- PAN, Application Number, DP ID, or Account Number
• Enter the relevant details for verification
• Click on the ‘Submit’ button

Steps to check Divine Hira Jewellers IPO allotment status on NSE

• Visit NSE’s IPO allotment status page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘Equity & SME IPO bid details’
• Choose ‘Divine Hira Jewellers Ltd’ under the symbol ‘DIVINEHIRA’
• Fill in your PAN details and application number.
• Click on submit

Divine Hira Jewellers IPO details

• The Divine Hira Jewellers IPO was open for bidding from March 17 to March 19.
• The IPO was a fixed-price issue that aimed to raise a total of ₹31.84 crore.
• The issue was entirely made up of a fresh issuance of 35.38 lakh shares, with no offer-for-sale (OFS) component.
• Shares in the IPO were offered at a price of ₹90 apiece in a minimum lot size of 1,600 shares. This translated to a minimum investment amount of ₹1.44 lakh for retail investors.
• After the allotment of shares is announced on March 20, successful bidders who have been allotted shares can expect them to be credited to their Demat accounts by March 21.
• The Divine Hira Jewellers stock is scheduled to be listed on the NSE Emerge platform on March 24.

Divine Hira Jewellers IPO objectives

Established in 2022, Divine Hira Jewellers Ltd specialises in designing and marketing premium 22 Karat gold jewellery. The company is based in the Zaveri Bazar area in Mumbai and caters to wholesalers, showrooms, and retailers.

The company does not have its own manufacturing facility, but claims to have established strong relationships with skilled artisans. These craftsmen, in collaboration with the company’s in-house designers, produce a variety of handcrafted jewellery.

Products include necklaces, mangalsutras, chains, malas, rings, pendants, bracelets, bangles, kadas, coins and wedding jewellery. The company is also a wholesaler of silver articles, bullions and coins in Mumbai.

Divine Hire Jewellers has proposed to utilise net proceeds from the IPO to mainly fund working capital requirements and for repayment of loans.

In its red herring prospectus, the company said that it planned to use ₹19 crore for funding working capital requirements, ₹3 crore for prepayment or repayment of all or a portion of certain loans availed by the company and ₹6.2 crore for general corporate purposes.

Divine Hira Jewellers IPO: Company financials

In the first six months of FY 2024-25 ended September 2024, Divine Hira Jewellers reported revenue of ₹136.03 crore, while profit after tax (PAT) for the period stood at ₹2.5 crore.

In FY 2023-24, revenue stood at ₹183.41 crore compared to ₹246.45 in the previous financial year (FY23). However, PAT increased to ₹1.48 crore in FY24 compared to ₹91 lakh in FY23.

Divine Hira Jewellers IPO: Key Performance Indicators