Divine Hira Jewellers SME IPO oversubscribed

The SME IPO of Divine Hira Jewellers has been oversubscribed. The company intends to raise INR 32 crore by issuing 35.37 lakh new equity shares, which will be listed on the NSE SME platform.The proceeds from the IPO will be used for prepayment or repayment of certain loans, meeting working capital requirements, and addressing general corporate needs.