Divine Hira Jewellers shares list flat on NSE SME, miss GMP estimates

Divine Hira Jewellers shares listed at Rs 91 apiece, which is the same as the IPO issue price

Divine Hira Jewellers IPO listing: Shares of Divine Hira Jewellers made a muted debut on the NSE SME on Monday, March 24, 2025, following the completion of its initial public offering (IPO). The company's shares listed at Rs 91 apiece, which is the same as the IPO issue price. 

 

Divine Hira Jewellers IPO listing came below the grey market estimates. Ahead of the listing, the unlisted shares of Divine Hira Jewellers were trading at around ₹93 apiece, reflecting a grey market premium (GMP) of ₹3 or 3.33 per cent over the issue price of ₹90 apiece, according to sources tracking unofficial market activities.  ALSO READ | Grand Continent Hotels IPO closes today; subscription lags at 48%, GMP nil

 

 

Divine Hira Jewellers IPO details

The SME offering, which ended for subscription on Wednesday, March 19, 2025, comprises an entirely fresh issue of 3.58 million equity shares no offer for sale (OFS) component, aggregating to Rs 31.84 crore. It was available at Rs 90 per share, with a lot size of 1,600 shares. Divine Hira Jewellers IPO received a decent response from investors, with the offering getting oversubscribed by nearly 3.76 times. The basis of allotment of shares for Divine Hira Jewellers was finalised on Thursday, March 20, 2025.

 

The company proposes to utilise the proceeds from the public offering for the prepayment or repayment of all or a portion of certain loans availed by the company. The company will further use the proceeds for funding working capital requirements as well as for general corporate purposes.

 

Bigshare Services served as the registrar, while Horizon Management acted as the sole book-running lead manager for the offering.  ALSO READ | Desco Infratech IPO opens today; check price band, lot size, GMP, key dates

 

About Divine Hira Jewellers

Divine Hira Jewellers specialises in the design and marketing of premium 22 Karat gold jewelry. Based in Zaveri Bazar, Mumbai, the company caters to wholesalers, showrooms, and retailers with a diverse range of gold Jewellery that combines traditional artistry with modern elegance. Divine Hira Jewellers procures gold from bullion dealers and importers. The company's products include necklaces, mangalsutras, rings, bracelets, chains, malas, pendants, bangles, kadas, coins, and wedding Jewellery.