Lalithaa Jewellery share price: Lalithaa Jewellery shares made a stellar debut on the exchanges on Monday as they listed at a solid 32 per cent premium, but slightly missed grey market expectations. Lalithaa Jewellery shares listed at Rs 265.30 on the BSE, a premium of 31.99 per cent against the offer price of Rs 201.
Meanwhile, on the National Stock Exchange (NSE), the stock debuted at Rs 265, up 31.84 per cent. Ahead of the debut, Lalithaa Jewellery IPO shares were quoting at ₹276 in the grey market, signalling a listing pop of 37.31 per cent. Commenting on the post-listing strategy for Lalithaa Jewellery Mart, Shivani Nyati, Head of Wealth at Swastika Investmart, said that the company remains attractively valued compared with organised peers like Kalyan Jewellers and Titan, while its ROE of over 41 per cent indicates strong capital efficiency.

However, the business remains inventory-heavy, with negative operating cash flow of around ₹397.7 crore in FY26, and the ₹1,066 crore GST dispute and promoter-related concerns remain key risks, she added. "After such a sharp listing gain, investors should avoid chasing the stock at higher levels.
Our view is positive but cautious; existing investors can hold with a stop loss at ₹245 on a closing basis. Fresh investors should wait for a meaningful dip before entering," Nyati advised. Lalithaa Jewellery IPO detailsThe ₹1,700-crore Lalithaa Jewellery IPO garnered a healthy response from investors during the three-day book-building process.

It received bids for 395.22 crore shares as against 6.27 crore shares on offer, resulting in a subscription of 62.97 times. The qualified institutional buyer (QIB) segment was booked the most at 145.38 times, followed by the non-institutional investor (NII) quota at 73.90 times and the retail segment at 11.81 times.
Lalithaa Jewellery Mart IPO was available for subscription from August 17 till August 19. The price band for the offer was set at ₹190 to ₹201 per share. Investors could apply in lots of 74 shares and multiples thereof. The offer was a mix of a fresh issue of Rs 1200 crore and an offer for sale (OFS) of Rs 500 crore.

The proceeds from the fresh share sale will be utilised for setting up 10 new stores along with general corporate purposes. The company delivered a CAGR of 22 per cent/ 60 per cent/ 68 per cent in its revenue/ Ebitda/ PAT during the FY24-FY26 period, with a FY26 Ebitda margin of 6.5 per cent, expanding 240 bps year-on-year (Y-o-Y).
Incorporated in 1985, Lalithaa Jewellery Mart is a jewellery retailer, primarily catering to the South Indian jewellery market. The company operates 61 stores across 51 cities in the states of Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Puducherry.