Divine Hira Jewellers IPO subscribed 1.49 times so far on day 2; check price band and key dates

Divine Hira Jewellers IPO has been fully subscribed on Tuesday, the second day of bidding. The issue will conclude on March 19. It is a fixed price issue at ₹90 per share.

The initial share is a fresh issue of 35.38 lakh shares aggregating to ₹31.84 crore. There is no offer for sale component.

The money raised will be used for the following objects:

• Repayment of loans availed by the company
• Funding working capital needs
• Corporate general purposes

Divine Hira Jewellers IPO: Lot size

The minimum lot size is 600 shares, requiring at least ₹1,44,000 as an investment. For high-net-worth individuals, the minimum investment option is 3,200 shares worth ₹2,88,000.

Divine Hira Jewellers IPO: Allotment and listing date

The issue's book running lead manager is Horizon Management, while the registrar is Bigshare Services.

About the company

Divine Hira Jewellers, which is based in Mumbai, specialises in 22-karat gold jewellery. It designs handmade, machine-made, and plain jewellery, meeting the needs of customers with customisation options.

Its products include malas, rings, necklaces, chains, rings, kadas, coins, pendants, mangalsutras, bracelets, bangles, and wedding jewellery.

The company reported a 25.57% decline in its revenue from operations to ₹183.41 crore for the financial year 2023-24, compared to ₹246.45 crore in the previous fiscal.

Net profit increased 62.63% to ₹1.48 crore in FY24 as against ₹91 lakh in FY23.