Divine Hira Jewellers IPO: Check date, price band, objectives, lot size, strengths, risks and key dates

Divine Hira Jewellers IPO, a fixed price issue at ₹90 per equity share, will open for subscription on March 17. The initial public offer will end on March 19.

The initial share sale is an offering of new equity shares aggregating to ₹31.84 crore. There is no offer-for-sale component.

The money raised will be utilised for debt repayment, fund working capital requirements and corporate general purposes.

Divine Hira Jewellers IPO: Lot size

An investor can bid for at least 1,600 shares, which will require an investment of ₹1,44,000. For high net-worth individuals, the minimum investment is ₹2,88,000.

The company has reserved 50% of the net issue for retail investors and the remaining 50% for other investor categories.

Divine Hira Jewellers IPO: Allotment and listing date

The basis of allotment is expected to be finalised on March 20. The refund for unsuccessful investors will be initiated on March 21, while shares will be credited to Demat account of successful investors on the same day.

The listing on the NSE SME platform, Emerge, will occur on March 24.

Divine Hira Jewellers designs and markets gold jewellery. The company primarily deals in 22-karat gold jewellery and offers various designs to suit the preferences of the end customer. It is also engaged in the wholesale of gold jewellery, bullions, silver articles and coins in Mumbai, Maharashtra.

Divine Hira Jewellers IPO: Strengths

• It has an experienced management and well-trained employee base.
• It has a wide range of jewellery. Its product portfolio includes necklaces, chains, mangal sutra, malas, pendants, bracelets, rings, bangles, coins, kada, wedding jewellery and customised jewellery.
• The company has a strong understanding of customer preference.

Divine Hira Jewellers IPO: Risks

• The company's top 10 customers contributed 95.51% of the total revenue in the financial year 2023-24. The loss of any major client can affect financial performance.
• Dependence on a few suppliers puts the company at risk of interruptions in the non-availability of raw materials.
• The company does not register its jewellery design under the Designs Act, 2000 and can suffer a loss of income if designs are duplicated by competitors.