Divine Hira Jewellers Limited IPO is a fixed-price issue with a total IPO size of ₹31.84 crores. The entire share offering is a fresh issue worth ₹31.84 crores.
The subscription period for the Divine Hira Jewellers Limited IPO starts on March 17, 2025, and ends on March 19, 2025. The allotment process is expected to be finalized by March 20, 2025.
The Divine Hira Jewellers Limited IPO is scheduled to list on NSE Emerge, with a listing date of March 24, 2025. The price band for the Divine Hira Jewellers Limited IPO is ₹90 per share, with a minimum lot size of 1,600 shares.
Registrar for this IPO is Bigshare Services Private Limited and lead managers for Divine Hira Jewellers Limited IPO are Horizon Management Private Limited.
IPO Schedule
| IPO Open Date | Monday, 17 Mar, 2025 |
|---|---|
| IPO Close Date | Wednesday, 19 Mar, 2025 |
| IPO Allotment Date | Thursday, 20 Mar, 2025 |
| Refund Initiation | Friday, 21 Mar, 2025 |
| Share credit in Demat | Friday, 21 Mar, 2025 |
| Listing Date | Monday, 24 Mar, 2025 |
Key Details
| Price Band | ₹90 Per Share |
|---|---|
| Lot Size | 1600 Shares |
| Face Value | ₹10 Per Equity Share |
| Total Issue Size | ₹31.84 Crores |
| Fresh Issue | ₹31.84 Crores |
| Issue Type | Fresh Issue |
| Listing At | NSE Emerge |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 0% |
| Retail | 50% |
| NII/HNI | 50% |
About Divine Hira Jewellers Limited Company
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.
Divine Hira Jewellers Limited Financial Details
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 30 Sep 2022 | 31 Mar 2022 |
|---|---|---|---|---|---|
| Assets | 285.41 | 289.72 | 232.55 | 198.79 | 197.80 |
| Revenue | 135.98 | 183.26 | 124.95 | 121.50 | 142.40 |
| Profit After Tax | 24.98 | 14.82 | 7.68 | 1.44 | 2.89 |
| Net Worth | 12.30 | 9.80 | 8.32 | 2.94 | 3.00 |
| Reserves and Surplus | 2.79 | 2.49 | 1.00 | 0.00 | 0.00 |
| Total Borrowing | 14.43 | 18.61 | 14.05 | 164.80 | 165.38 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 1.56 | 16.36% | 10.31 | 16.36% | 13.54% |
Offer Objectives
The company intends to utilize the Net Proceeds from the Issue, estimated to be ₹ 281.91 million (₹ 28.19 crore), after deducting issue-related expenses of ₹ 36.48 million, towards the following objects: Prepayment or repayment of certain loans, Funding of working capital requirements, and General Corporate Purposes.
Specifically, ₹ 30 million (₹ 3 crore) is allocated for loan prepayment/repayment, ₹ 190 million (₹ 19 crore) for working capital, and ₹ 61.91 million (₹ 6.19 crore) for general corporate purposes, ensuring that general corporate expenses do not exceed 25% of the Gross Proceeds from the Issue.
The schedule for deploying the Net Proceeds is set for Fiscal 2026. The fund requirements are based on internal management estimates and are subject to revisions due to various factors. The Company proposes to utilize ₹ 190 million (₹ 19 crore) of the Net Proceeds towards working capital requirements in Fiscal 2026.
As of September 30, 2024, total outstanding borrowings were ₹ 116.34 million (₹ 11.63 crore), with ₹ 30 million (₹ 3 crore) proposed for repayment. The company's working capital requirement is projected to increase from ₹ 263.61 million (₹ 26.36 crore) in FY2024 to ₹ 570.04 million (₹ 57.00 crore) in FY2026 due to business expansion and increased marketing efforts.
Company Details
Address:
74/A, 1st Floor, Office No.2, Opp. Hotel Bhagat Tarachand,
Zaveri Bazar, Mumbai- 400 002, Maharashtra, India.
Phone: +91 222 240 2662
Email: [email protected]
Website: http://www.divinehirajewellers.com
IPO Registrar Details
Bigshare Services Private Limited
Phone: +91 226 263 8200
Email: [email protected]
Website: http://www.bigshareonline.com
