Divine Hira Jewellers made its stock market debut on NSE SME today, listing at ₹90 per share, the same as its IPO price. However, the stock soon dropped 5% and hit its lower limit, currently trading at ₹85.50. The stock reached a high of ₹90 and a low of ₹85.50, with about 1.81 lakh shares being traded.
The company’s IPO was well received, getting subscribed 3.76 times. It opened for bidding on March 17, 2025, and closed on March 19, 2025, with a set price of ₹90 per share. The IPO included 35,37,600 fresh shares, reducing the promoter’s ownership from 99.74% to 72.70%.
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Divine Hira Jewellers plans to use the IPO funds to repay loans, manage working capital, and for general business purposes.
Based in Mumbai, the company specializes in 22-karat gold jewelry, offering both traditional and modern designs to wholesalers, showrooms, and retailers. It also deals in silver articles, bullions, and coins, focusing on regional design preferences.
As of October 31, 2024, the company had 9 employees. Its financials for September 30, 2024, showed revenue of ₹135.97 crore and a net profit of ₹2.49 crore.
