Lalithaa Jewellery Shares End 24% Higher After 32% Debut

Lalithaa Jewellery Mart sold shares to the public in an IPO.

Each share was offered for ₹201.

When trading began on August 24, the shares opened at about ₹265, roughly 32% higher.

By the end of the day, the price had fallen to about ₹248, but it was still nearly 24% above the IPO price.

Investors had applied for far more shares than were available.

Reports gave different total subscription figures of 66.63 times and 62.97 times.

Large institutional investors showed particularly strong interest.

The company plans to use the new money to buy jewellery inventory and open 10 stores.

Lalithaa Jewellery Mart operates jewellery stores across southern India.