3 weeks ago
Lalithaa Jewellery Mart Rs 1,700 crore IPO opens August 17
Lalithaa Jewellery Mart is a company that sells gold, silver and diamond jewellery in southern India.
It opened its first store in T Nagar, Chennai, in 1985 and now runs 61 shops across places like Tamil Nadu and Karnataka.
The company is holding an IPO, which means it is selling part of itself to the public for the first time.
It hopes to raise Rs 1,700 crore, with each share costing between Rs 190 and Rs 201.
The IPO starts on August 17 and ends on August 19, and you can buy shares in groups of 74.
Big financial companies can buy up to half of the shares, while everyday people get at least 35 per cent.
Employees of the company can buy some shares at a discount of 10 per cent.
The money raised will be used to open new stores and buy furniture, equipment and jewellery stock.
The company made a much bigger profit last year compared with the year before.
After the IPO, its shares will be listed on the stock exchanges on August 24.
Lalithaa Jewellery Mart's Rs 1,700 crore IPO opens on August 17 and closes on August 19, with a price band of Rs 190-201 per share.
The issue comprises a fresh issue of up to Rs 1,200 crore and an offer for sale of up to Rs 500 crore, valuing the company at about Rs 11,250 crore at the upper end of the price band.
Up to 50% of the issue is reserved for qualified institutional buyers, at least 15% for non-institutional investors and at least 35% for retail investors; the lot size is fixed at 74 equity shares.
Shares worth up to Rs 6 crore are reserved for employees at a 10% discount to the final offer price, and anchor investor bidding takes place on August 14.
Allotment is expected on August 20, refunds on August 21, and listing on the BSE and NSE on August 24; merchant bankers are Anand Rathi Advisors and Equirus Capital.
- Who
- Lalithaa Jewellery Mart, a southern Indian gold, silver and diamond jewellery retailer, with Anand Rathi Advisors and Equirus Capital as merchant bankers.
- What
- Launching a Rs 1,700 crore initial public offering with a price band of Rs 190-201 per share, comprising a fresh issue of up to Rs 1,200 crore and an offer for sale of up to Rs 500 crore.
- Where
- Shares will be listed on the BSE and NSE; the company operates 61 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Puducherry.
- When
- The IPO runs from August 17 to August 19; anchor investor bidding is on August 14, allotment is expected on August 20, refunds on August 21 and listing on August 24.
- Why
- To raise funds for setting up new stores, store fit-outs, furniture and fixtures, equipment, IT hardware and software, inventory requirements and general corporate purposes.
Key facts
- Issue size
- Rs 1,700 crore (fresh issue up to Rs 1,200 crore; OFS up to Rs 500 crore)
- Price band
- Rs 190-201 per share; company valued at around Rs 11,250 crore at the upper end
- IPO dates
- August 17-19; anchor investor bidding on August 14
- Allotment and listing
- Allotment August 20; refunds August 21; listing on BSE and NSE on August 24
- Lot size
- 74 equity shares
- Reservations
- Up to 50% QIBs, at least 15% NIIs, at least 35% retail; up to Rs 6 crore for employees at 10% discount
- FY26 financials
- Profit Rs 1,009.8 crore (up 177%); revenue Rs 25,023.9 crore (up 48.1%)
- Store network
- 61 stores; first store opened in T Nagar, Chennai, in 1985; claims highest operating revenue per store among key organised players
Sources
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