Divine Hira Jewellers Limited, a Mumbai-based company specializing in 22-karat gold jewelry, is launching its Divine Hira Jewellers Ltd IPO on March 17, 2025. The company aims to raise ₹31.84 crore through this fixed-price issue, offering 35.38 lakh equity shares at ₹90 per share.
Key Details of the Divine Hira Jewellers Ltd IPO:
- IPO Opening Date: March 17, 2025
- IPO Closing Date: March 19, 2025
- Basis of Allotment: March 20, 2025
- Refunds Initiation: March 21, 2025
- Shares Credit to Demat: March 22, 2025
- Listing Date: March 24, 2025
- Issue Price: ₹90 per share
- Lot Size: 1,600 shares
- Minimum Investment: ₹1,44,000
- Listing Platform: NSE Emerge
Who is the Owners of Divine Hira Jewellers Ltd
Divine Hira Jewellers Ltd is promoted by:
- Mr. Hirachand Pukhraj Gulecha
- Mr. Niraj Hirachand Gulecha
- Mrs. Khushbu Niraj Gulecha
- Mr. Hirachand P Gulecha (HUF)
Mr. Hirachand Pukhraj Gulecha serves as the Managing Director and Chairman of the company. With over 30 years of industry experience, he has been involved in every aspect of the gold manufacturing business, from its inception to its growth.
His hands-on approach has driven the expansion of operations, and his keen eye for product quality ensures that only the finest items reach customers.
Mr. Niraj Hirachand Gulecha brings over two decades of expertise in gold manufacturing and ornamentation. He has overseen a dedicated team and has honed his insight into emerging market trends, allowing him to anticipate consumer demands effectively.
His familiarity with local and neighboring areas, coupled with involvement in a robust networking team, provides invaluable insights for business expansion and development.
Mrs. Khushbu Niraj Gulecha and Mr. Hirachand P Gulecha (HUF) also play significant roles in the company’s operations.
Divine Hira Jewellers Ltd – Company Overview
Founded: 2022
Headquarters: Mumbai, Maharashtra, India
Industry: Jewellery Manufacturing & Trading
Specialization: 22-Karat Gold Jewellery
Established in 2022, Divine Hira Jewellers specializes in designing and marketing 22-karat gold jewelry. Their product range includes necklaces, mangalsutras, chains, malas, rings, pendants, bracelets, bangles, kadas, coins, and wedding jewelry.
The company caters to wholesalers, showrooms, and retailers, offering designs that blend traditional craftsmanship with contemporary aesthetics.
Business Operations
Divine Hira Jewellers Ltd is engaged in the business of designing, manufacturing, and marketing gold jewellery. The company primarily deals in 22-karat gold jewellery, including:
- Necklaces
- Mangalsutras
- Chains
- Malas
- Rings
- Pendants
- Bracelets
- Bangles
- Kadas
- Coins
- Wedding Jewellery
Financial Performance
- FY 2023 Revenue: ₹246.45 crore
- FY 2024 Revenue: ₹183.41 crore (decline due to market conditions)
- Net Profit (FY 2024): ₹1.48 crore (increased from ₹0.91 crore in FY 2023)
What is GMP of Divine Hira Jewellers Ltd IPO?
As of now, the Grey Market Premium (GMP) for Divine Hira Jewellers Ltd’s IPO has not been established. This is likely because the IPO is scheduled to open for subscription on March 17, 2025, and GMP rates typically become available closer to the opening date.
The GMP is an informal measure reflecting the premium at which IPO shares are traded in the grey market before their official listing.
While it can provide an indication of market sentiment, it’s important to note that the grey market is unofficial and unregulated. Therefore, the GMP may not always accurately predict the actual listing performance of the stock.
For the most current GMP updates, you can monitor financial websites such as IPO Watch and IPO Central.
Divine Hira Jewellers Ltd IPO Lot Size
Here is the Divine Hira Jewellers Ltd IPO lot size details in a table format:
| Application | Lots | Shares | Investment Amount |
| Retail (Minimum) | 1 | 1,600 | ₹1,44,000 |
| Retail (Maximum) | 1 | 1,600 | ₹1,44,000 |
| HNI (Minimum) | 2 | 3,200 | ₹2,88,000 |
- Minimum Lot Size: 1,600 shares
- Minimum Investment: ₹1,44,000
- Retail Investors: Can apply for a minimum of 1 lot (1,600 shares)
- HNI (High Net-worth Individual) Investors: Must apply for at least 2 lots (3,200 shares) or more
Divine Hira Jewellers Ltd Company Financials
| Period Ended | 30 Sep 2024 | Mar 2024 | 31 Mar 2023 | Mar 2022 |
| Assets | ₹28.54 Crores | ₹28.97 Crores | ₹23.26 Crores | ₹19.78 Crores |
| Revenue | ₹136.03 Crores | ₹183.41 Crores | ₹246.45 Crores | ₹142.4 Crores |
| Profit After Tax | ₹2.5 Crores | ₹1.48 Crores | ₹0.91 Crores | ₹0.28 Crores |
| Net Worth | ₹12.3 Crores | ₹9.8 Crores | ₹8.32 Crores | ₹3 Crores |
| Reserves and Surplus | ₹9.51 Crores | ₹7.32 Crores | ₹7.32 Crores | – |
| Total Borrowing | ₹12.93 Crores | ₹18.61 Crores | ₹14.07 Crores | ₹16.54 Crores |
Key Performance Indicator
| KPI | Values |
| ROE | 16.36% |
| ROCE | 13.54% |
| Debt/Equity | 1.90 |
| RoNW | 16.36% |
| PAT Margin | 0.81 |
Objects of the Issue
Divine Hira Jewellers Limited aims to raise ₹31.84 crore through its Initial Public Offering (IPO). The net proceeds from this issue are intended to be utilized for the following purposes:
- Working Capital Requirements: A portion of the funds will be allocated to meet the company’s working capital needs, ensuring smooth operations and supporting business growth.
- General Corporate Purposes: The remaining funds are earmarked for general corporate purposes, which may include expenses related to business development, marketing, and other strategic initiatives.
These objectives are outlined in the company’s IPO prospectus.
Strengths of Divine Hira Jewellers Ltd IPO
- Established Brand in Gold Jewellery Market – Specializes in 22K gold jewellery with a strong presence in wholesale and retail segments.
- Experienced Promoters – Led by Hirachand Pukhraj Gulecha and Niraj Hirachand Gulecha, who have decades of experience in the jewellery industry.
- Diverse Product Portfolio – Offers a wide range of jewellery, including necklaces, rings, bangles, and wedding collections.
- Growing Profitability – Despite a revenue decline, net profit increased from ₹0.91 crore (FY23) to ₹1.48 crore (FY24), showing improved financial efficiency.
- Strong Industry Demand – The Indian jewellery market is resilient, with consistent demand for gold products.
- IPO Listing on NSE Emerge – Provides an opportunity for small investors to participate in a growing business.
Risks of Divine Hira Jewellers Ltd IPO
- Declining Revenue Trend – Revenue fell from ₹246.45 crore (FY23) to ₹183.41 crore (FY24), which may indicate demand fluctuations.
- Highly Competitive Market – Faces competition from established jewellers and unorganized sector players.
- Gold Price Volatility – The business is heavily dependent on gold prices, which are subject to market fluctuations.
- SME IPO Risk – SME stocks tend to have lower liquidity and higher volatility post-listing.
- Working Capital Dependency – A significant portion of IPO proceeds will be used for working capital, showing potential liquidity constraints.
- Regulatory Risks – The jewellery industry is subject to government policies on gold imports, taxes, and hallmarking, which may impact operations.
Investor Categories and Allocation
- Retail Individual Investors (RII): 50% of the issue (17,68,800 shares)
- Non-Institutional Investors (NII): 50% of the issue (17,68,800 shares)
- Qualified Institutional Buyers (QIB): No allocation
Utilization of IPO Proceeds
The net proceeds from the IPO are intended to be utilized for the following purposes:
- Working Capital Requirements: To support the company’s operational needs and business growth.
- General Corporate Purposes: To cover expenses related to business development, marketing, and other strategic initiatives.
Company Overview
Divine Hira Jewellers Ltd, established in 2022, specializes in designing and marketing 22-karat gold jewellery. The company’s product range includes necklaces, mangalsutras, chains, malas, rings, pendants, bracelets, bangles, kadas, coins, and wedding jewellery.
They cater to wholesalers, showrooms, and retailers, primarily in Mumbai, Maharashtra.
IPO Application Process
Investors can apply for the Divine Hira Jewellers Ltd IPO through the ASBA (Application Supported by Blocked Amount) process via their bank accounts or through UPI (Unified Payments Interface) with their stock brokers.
The minimum investment for retail investors is ₹1,44,000 for one lot of 1,600 shares. High Net-worth Individuals (HNI) must apply for at least two lots, amounting to ₹2,88,000.
Divine Hira Jewellers Ltd Contact Details
- Corporate Office: Office No. S6-2, 6th Floor, Pinnacle Business Park, Andheri, Mumbai – 400093, Maharashtra, India.
- Registered Office: 74/A, Sheikh Memon Street, Zaveri Bazar, 1st Floor, Shop No.2, Mumbai – 400002.
- Phone: +91 22 6263 8200
- Website: divinehirajewellers.com
These details are sourced from the company’s official website and other reliable sources.
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