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Unlisted shares of Divine Hira Jewellers Ltd are currently trading at Rs 105 apiece, which is 16.67 per cent premium (GMP) over the issue price of Rs 90.
Divine Hira Jewellers IPO.
Divine Hira Jewellers IPO: The initial public offering of Divine Hira Jewellers Ltd, which is set to be closed at 5 pm on Wednesday, has so far received over three times subscription on the final day of bidding. Till 2:44 pm on the final day of bidding on Wednesday, the Rs 31.84-crore NSE SME IPO received a 3.3 times subscription garnering bids for 1,10,80,000 shares as against 33,60,001 shares on offer.
So far, the retail category has been fully subscribed with 5.58 times subscription, while the NII has got a 0.99 times subscription.
The IPO was opened on Monday, March 17. The price of the IPO has been fixed at Rs 90 apiece.
Divine Hira Jewellers IPO GMP Today
According to market observers, unlisted shares of Divine Hira Jewellers Ltd are currently trading at Rs 105 apiece, which is 16.67 per cent premium (GMP) over the issue price of Rs 90. The IPO listing will take place on March 24.
The 16.6% GMP on Wednesday is lower than the 35.56% premium recorded on the first day of the IPO on Friday.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Divine Hira Jewellers IPO: More Details
The Divine Hira Jewellers IPO, which is a fixed price issue of Rs 31.84 crore, is entirely a fresh issue of 35.38 lakh shares.
The minimum lot size for an application is 1,600. The minimum amount of investment required by retail investors is Rs 1,44,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 2,88,000.
Horizon Management Private Limited is the book-running lead manager of the Divine Hira Jewellers IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Divine Hira Jewellers IPO is Giriraj Stock Broking Private Limited.
Incorporated in July 2022 Divine Hira Jewellers Limited specialises in designing and marketing premium 22 Karat gold jewellery. The company caters to wholesalers, showrooms, and retailers with a diverse range of gold jewellery that combines traditional artistry with modern elegance.