Divine Hira Jewellers IPO booked 3.93x on Day 3 so far led by retail investors; check GMP, subscription status, more | Stock Market News

Divine Hira Jewellers IPO has began accepting subscriptions on Monday, March 17, and will remain open until today, Wednesday, March 19. Divine Hira Jewellers IPO price band has been set at ₹90 per equity share, with a face value of ₹10 each. Investors can place bids for a minimum of 1,600 equity shares, with additional bids in multiples of 1,600 shares thereafter.

Founded in July 2022, Divine Hira Jewellers Limited focuses on the design and marketing of high-quality 22 Karat gold jewelry. The business serves wholesalers, showrooms, and retailers with an extensive assortment of gold jewelry that blends traditional craftsmanship with contemporary style.

Their collection features a variety of designs tailored to suit different tastes. The product lineup includes necklaces, mangalsutras, chains, malas, rings, pendants, bracelets, bangles, kadas, coins, and wedding jewelry. They prioritize localized design, ensuring that their creations connect with regional preferences.

Based in Mumbai, Maharashtra, the company operates as a wholesaler of gold jewelry, silver items, bullions, and coins.

As per prospectus, the firm’s sole listed peer is Sky Gold Ltd (with a P/E of 35.18).

Divine Hira Jewellers IPO subscription status

Divine Hira Jewellers IPO subscription status is 3.93 times, on day 3, so far. The retail portion was subscribed 6.62 times, and NII portion was booked 1.2 times.

At 17:04 IST, the company has received bids for 1,31,96,800 shares against 33,60,001 shares on offer, according to data on chittorgarh.com

Divine Hira Jewellers IPO subscription status was 69%, on day 1, and the issue was booked 1.88 times on the second bidding day.

Divine Hira Jewellers IPO details

Divine Hira Jewellers IPO consists of a fresh issue of 35,37,600 equity shares, aggregating to ₹31.84 crore. There’s no offer for sale (OFS) component.

Divine Hire Jewellers IPO aims to use the net proceeds from the offering for several purposes, including the prepayment or repayment of a portion of specific loans taken by the company; financing the company’s working capital needs; and for general corporate purposes.

Horizon Management Private Limited serves as the book-running lead manager for the Divine Hira Jewellers IPO, whereas Bigshare Services Pvt Ltd acts as the registrar for this offering. The market maker for the Divine Hira Jewellers IPO is Giriraj Stock Broking Private Limited.

Divine Hira Jewellers IPO GMP today

Divine Hira Jewellers IPO GMP today is +7. This indicates Divine Hira Jewellers share price was trading at a premium of ₹7 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Divine Hira Jewellers share price is indicated at ₹97 apiece, which is 7.78% higher than the IPO price of ₹90.

According to the grey market activities observed over the past 10 sessions, the present GMP ( ₹7) suggests a trend towards a decrease. The minimum GMP recorded is ₹0.00, whereas the maximum GMP reached is ₹32.00, as stated by experts from investorgain.com.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.