3 days ago
Lalithaa Jewellery IPO Makes Strong Debut With 31.84% Premium
Lalithaa Jewellery Mart Limited sold part of its company through an IPO.
An IPO lets people buy a stake in a company.
The company raised ₹1,700 crore through the offering.
Its stock began trading at a price 31.84% higher than the top price set for the IPO.
The stock was listed on both the NSE and BSE.
Company leader Dr M Kiran Kumar thanked customers and investors.
He said investors were now owners of the company.
The company also said it hopes to enter international markets in the future.
Lalithaa Jewellery Mart Limited held a press meeting in Hyderabad to celebrate its stock-market debut.
CMD Dr M Kiran Kumar thanked customers and investors for their response to the ₹1,700 crore IPO.
The stock listed at a 31.84% premium over its upper issue price on the NSE and BSE.
Kiran Kumar told investors they were now owners rather than just customers.
The company said the domestic listing was the beginning of plans that could eventually include entering international markets.
- Who
- Lalithaa Jewellery Mart Limited and its CMD, Dr M Kiran Kumar, along with its customers and investors.
- What
- The company celebrated the successful listing of its ₹1,700 crore IPO.
- Where
- A press meeting was held in Hyderabad, with the stock listed on the NSE and BSE.
- When
- Saturday; the article does not specify the calendar date.
- Why
- To thank customers and investors and celebrate the IPO’s strong market debut.
Key facts
- Company
- Lalithaa Jewellery Mart Limited
- IPO size
- ₹1,700 crore
- Listing premium
- 31.84% above the upper issue price
- Stock exchanges
- National Stock Exchange of India and Bombay Stock Exchange
- Company leader
- Dr M Kiran Kumar, CMD
- Future direction
- The company said it aims to pursue international market entry over the longer term
Quotes
Dr M Kiran Kumar
CMD of Lalitha Jewellery Mart Limited
“From now on, you are not just customers, you are owners,”
thehansindia.com
Sources
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