Divine Hira Jewellers: Divine Hira Jewellers shares listed flat at ₹90, matching its issue price!Divine Hira Jewellers: Divine Hira Jewellers shares listed flat at ₹90, matching its issue price!

Divine Hira Jewellers IPO had a flat listing on Monday, March 24, debuting at ₹90 per share on the NSE SME platform, matching its issue price without any listing gains or losses for the investors on the first day.

Divine Hira Jewellers IPO witnessed decent demand on Day 3, achieving an overall subscription of 3.93 times. The retail category was subscribed 6.62 times, while the NII segment saw 1.2 times subscription, reflecting positive investor interest as the issue gained momentum on the final day.

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Divine Hira Jewellers Limited designs and markets 22 Karat gold jewellery, offering diverse designs tailored to regional preferences. Based in Zaveri Bazar, Mumbai, they wholesale gold jewellery, silver articles, bullions, and coins. Promoters Hirachand Gulecha and Niraj Gulecha hold 30 and 10 years of industry experience.

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Divine Hira Jewellers aims to use IPO proceeds for ₹19 crores working capital, ₹3 crores debt repayment, and the remaining amount for strategic initiatives, branding, marketing, expansion, and general corporate purposes.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.