Divine Hira Jewellers Limited IPO Announcement
Divine Hira Jewellers Limited has announced its upcoming Initial Public Offering (IPO) on NSE Emerge. This IPO is a fresh issue of shares, aiming to raise 31.8384 crores. Investors are keenly watching this offering.
Company Overview
Divine Hira Jewellers Limited specializes in the design and marketing of exquisite gold jewellery, primarily dealing in 22 Karat gold. The company offers a diverse range of designs catering to various regional tastes and customer preferences. They engage in the wholesale of gold jewellery, silver articles, bullions, and coins in Mumbai, Maharashtra, and have recently started offering curated antique gold jewellery.
Sourcing gold from bullion dealers and importers, Divine Hira Jewellers outsources manufacturing to skilled artisans while maintaining in-house design teams. Their product range includes machine-made, handmade, and plain gold jewellery, encompassing necklaces, mangalsutras, chains, rings, pendants, bracelets, bangles, and wedding jewellery. The company’s strategic shift towards higher-margin gold jewellery has improved profitability, with PAT margins increasing from 0.20% in FY22 to 0.81% in FY24.
For the six months ended September 30, 2024, revenue from operations stood at 13.60 crore, with a net profit of 2.50 crore. Divine Hira Jewellers’ commitment to purity, quality control, and design innovation, combined with experienced leadership, positions them as a preferred destination for customers seeking exceptional jewellery.
Key Achievements
Divine Hira Jewellers Limited has demonstrated impressive financial performance. Key highlights include:
- Strategic shift towards higher-margin gold jewellery.
- Commitment to purity and quality control.
- Experienced leadership team.
Financial Overview
Here s a snapshot of the company’s financials:
| Particulars | 30 Sep 2024 ( in Crores) | 31 Mar 2024 ( in Crores) | 31 Mar 2023 ( in Crores) |
|---|---|---|---|
| Assets | 285.41 | 289.72 | 232.55 |
| Revenue | 135.98 | 183.26 | 124.95 |
| Profit After Tax | 24.98 | 14.82 | 7.68 |
| Net Worth | 12.30 | 9.80 | 8.32 |
| Total Borrowing | 14.43 | 18.61 | 14.05 |
IPO Structure
The IPO is a fresh issue of 3,537,600 equity shares. The allocation structure is as follows:
- Retail Investors: 50% of the offer
The shares are proposed to be listed on NSE Emerge.
Lead Manager and Registrar
The lead manager for the Divine Hira Jewellers Limited IPO is Horizon Management Private Limited.
The registrar is Bigshare Services Private Limited.
Conclusion
The Divine Hira Jewellers Limited IPO presents an interesting investment opportunity in the jewellery sector. Keep an eye on the IPO dates (March 17 – March 19, 2025) and consider this offering. Stay tuned for more updates and detailed analysis.