Lalithaa Jewellery Mart IPO: Check Price Band And Other Key Details

Lalithaa Jewellery Mart Ltd, the Chennai-based jewellery retailer, has set the price band for its ₹1,700-crore initial public offering (IPO) at ₹190-201 per share.

The issue will open for public subscription on 17 August and close on 19 August, with bidding by anchor investors scheduled on 14 August.

At the upper end of the price band, the company would be valued at around ₹11,250 crore.

Fresh Issue And Offer For Sale Explained

The Lalithaa Jewellery Mart IPO comprises a fresh issue of shares worth up to ₹1,200 crore, through which the company will raise new capital, and an offer for sale (OFS) worth up to ₹500 crore by promoter and founder Kiran Kumar Jain, who will receive the proceeds from this portion directly.

Funds raised through the fresh issue will primarily be used to set up new stores, with the remaining amount allocated towards general corporate purposes.

Allotment Timeline And Investor Allocation

Share allotment is expected to be finalised by 20 August, with listing on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) likely on 24 August.

Of the net offer, excluding the portion reserved for employees, 50% has been set aside for qualified institutional buyers, of which up to 60% may go to anchor investors, while retail investors have been allocated 35% and non-institutional investors the remaining 15%.

The company has also reserved shares worth up to ₹6 crore for employees, who may receive them at a 10% discount to the final issue price. Investors can bid for a minimum of 74 equity shares and in multiples thereafter.

Valuation And Business Overview

At the upper end of the price band, the company's price-to-earnings ratio based on FY26 diluted earnings works out to 9.95 times, compared with an average industry peer-group ratio of 29.69 times for the same year.

Lalithaa Jewellery Mart, which opened its first store in T Nagar, Chennai, in 1985, sells gold, silver and diamond jewellery under the Lalithaa brand, with offerings tailored to regional preferences across southern India.

The company currently operates 61 stores spread across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Puducherry, of which 45 stores are located in Tier II and Tier III cities that together contributed 60.25% of its revenue in FY26.

Anand Rathi Investment Banking and Equirus are the book-running lead managers to the issue, while MUFG has been appointed as registrar.

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