Divine Hira Jewellers shares debut on NSE SME today

Divine Hira Jewellers' shares will start trading today on the NSE SME platform. The company's initial public offering (IPO) received a subscription of just 3.96 times, with retail investors showing more interest than others. Despite this, the Grey Market Premium (GMP) for the shares is currently at zero. The Mumbai-based company raised Rs 32 crore through the IPO to help with loan repayments, working capital, and other corporate needs. In the last fiscal year, Divine Hira Jewellers saw a profit increase of 62.63%, reaching Rs 1.48 crore. However, its revenue dropped by 25.6%, totaling Rs 183.25 crore. The trend of diminished demand for shares in SME offerings continues, as many have reported low or zero GMPs prior to their market launch. The retail investors subscribed 6.62 times, while non-institutional investors and qualified institutional buyers showed less interest, subscribing 1.3 times. Divine Hira Jewellers specializes in premium 22 Karat gold jewellery. They offer a variety of products, including necklaces, rings, and wedding jewellery. Horizon Management Private Limited is the lead manager for the IPO, and Bigshare Services Pvt Ltd is the registrar. Giriraj Stock Broking is the market maker for the offering.