Divine Hira Jewellers Ltd IPO

About Divine Hira Jewellers Ltd

Divine Hira Jewellers Limited (the Company) was incorporated on July 19, 2022 as `Divine Hira Jewellers Limited', as a public limited company under the Companies Act, 2013, pursuant to a certificate of incorporation issued by Registrar of Companies, Central Registration Centre. Pursuant to a Business Succession Agreement dated September 13, 2022, the Company acquired the entire assets, assumed liabilities, clients and employees and business of Hira Traders (proprietorship firm of Hirachand P Gulecha HUF established in the year 1997) with effect from the closing date i.e. September 30, 2022.

Global growth is projected at 3.1 percent in 2024 and 3.2 percent in 2025, with the 2024 forecast 0.2 percentage point higher than that in the October 2023 World Economic Outlook (WEO) on account of greater-than- expected resilience in the United States and several large emerging market and developing economies, as well as fiscal support in China. The forecast for 2024-25 is, however, below the historical (2000-19) average of 3.8 percent, with elevated central bank policy rates to fight inflation, a withdrawal of fiscal support amid high debt weighing on economic activity, and low underlying productivity growth. Inflation is falling faster than expected in most regions, in the midst of unwinding supply-side issues and restrictive monetary policy. Global headline inflation is expected to fall to 5.8 percent in 2024 and to 4.4 percent in 2025, with the 2025 forecast revised down. In the coming years, growth in the gems and jewellery sector would largely be contributed by the development of large retailers/brands. Established brands are guiding the organised market and are opening opportunities to grow. Increasing penetration of organised players provides variety in terms of products and designs. Also, the relaxation of restrictions on gold import is likely to provide a fillip to the industry. The improvement in availability along with the reintroduction of low-cost gold metal loans and likely stabilisation of gold prices at lower levels is also expected to drive volume growth for jewellers over the short to medium term. India has 450 organised jewellery manufacturers, importers & exporters and is the hub for jewellery manufacturing. These players have benefited greatly due to the increasing liberal policies by the government. The demand for jewellery is expected to be significantly supported by the recent positive developments in the industry. India's gems and jewellery industry is expected to reach US$ 100 billion by 2027.

Divine Hira Jewellers Limited is engaged in the business of designing and marketing of gold jewelleries. The Company mainly deals in 22 Karat gold jewellery, offering a wide variety of designs to suit preferences of the end customer. The Company has the ability to create localised product design mixes to suit various regional tastes. The Company caters to its customers' unique preferences, through its understanding of the local and regional market. It provides an extensive range of designs. The Company engaged in wholesale of gold jewellery, silver articles, bullions and coins at Mumbai, Maharashtra. Recently the company has also curating and offering exquisite antique gold jewelry that transcends time, bringing the charm of historical artistry into the modern era. Currently, it caters to a large number of wholesalers, showrooms and retailers who buy its products in bulk quantities.

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