Lalithaa Jewellery Mart makes a strong debut on the bourses. The stock has listed at Rs 265 on the NSE, which is a premium of 32% to the issue price. The company had set the issue price at Rs 201 per equity share.
The IPO bidding opened for subscription on August 17 and closed on August 19. The IPO raised Rs 1,700 crores via a combination of 5.97 crore fresh shares aggregating to Rs 1,200 crores and an offer for sale of 2.49 crore shares amounting to Rs 500 crores. The allotment for the Lalithaa Jewellery Mart IPO is expected to be finalised on Aug 20, 2026.
The issue was subscribed to a total of 66.63 times. The retail investors booked the issue 12.51 times, the NIIs subscribed to it 78.17 times, and the QIBs booked it 153.80 times. The employee category saw huge traction, with oversubscription on the first day itself, 1.58 times.
A retail investor needs to apply for a minimum of one lot of 74 shares, which amounts to Rs 14,874 at the upper price band.
The company will be using the fresh proceeds towards funding expenditure for setting up 10 new stores (Rs 34.55 crore) and expenditure towards inventory costs (Rs 998.68 crore), while the remaining sum will be used for general corporate expenses.
Anand Rathi Advisors was the book-running lead manager of the IPO and MUFG Intime India was the registrar of the issue.
Lalithaa Jewellery Mart is a jewellery retail company with a strong regional presence across South India, catering primarily to the mass and value-conscious customer segment. Incorporated in November 1985, the company offers a diverse range of gold, silver, diamond, precious and semi-precious jewellery, with a focus on quality, craftsmanship and original designs. The company has established strong brand acceptance in Tier II and Tier III cities across southern India.
The company operates through Large Format Stores and Medium Format Stores, which support its retail expansion and scale.