Divine Hira Jewellers Shares List Flat at ₹90, Same as IPO Price
On Monday, March 24, Divine Hira Jewellers’ shares began the day flat, listing on the NSE SME at ₹90 per share, which was the offering price. But as the trade went on, the stock lost ground, and as of 10.15 am, it was trading at a 5% lower price band of ₹85.50.
The IPO of Divine Hira Jewellers was a fixed-price offering with an IPO price of ₹90 per share. It was available for subscription from March 17 to March 19. By providing 35.38 lakh new shares, the business, which designs and markets high-end 22-karat gold jewelry, raised ₹31.84 crore. Retail investors with a minimum investment of ₹1,44,000 might apply for one batch of 1600 shares and their multiples.
In addition to supporting working capital needs and other corporate objectives, the firm intends to utilize the money acquired through the IPO to prepay or repay some of the loans it has taken out. Bigshare Services Pvt Ltd is the issue’s registrar, while Horizon Management Private Limited is the book-running lead manager for the Divine Hira Jewellers IPO.
The Divine Hira Jewellers’ initial public offering (IPO) was booked 3.93 times after the three-day bidding procedure, with the retail component booked 6.62 times and the non-institutional purchasers’ portion receiving 1.2 times bids.
About Divine Hira Jewellers
Creating and providing gold jewelry, mostly 22-karat gold jewelry, is the business of Divine Hira Jewellers. The company designed and marketed silver items, bullions, and coins in Mumbai and sold gold jewelry. It recently took the risk of collecting and providing beautiful vintage gold jewelry. The business serves several wholesalers, showrooms, and retailers that purchase its goods in bulk. Its headquarters are at Mumbai’s Zaveri Bazar.
