Lalithaa Jewellery Mart Announces IPO Details
Lalithaa Jewellery Mart, a prominent southern Indian jewellery retailer, has announced the price band for its Initial Public Offering (IPO). The public issue is set to open on August 17, 2026, offering investors a chance to subscribe to its shares.
Key Lalithaa Jewellery Mart IPO Details
- Price Band: The company has fixed the IPO price band at Rs 190 to Rs 201 per equity share, with a face value of Rs 5.
- Issue Dates: Subscription for the IPO begins on Monday, August 17, 2026, and will conclude on Wednesday, August 19, 2026. Anchor investors can subscribe on Friday, August 14, 2026.
- Issue Size: The IPO comprises a fresh issue of shares worth Rs 1,200 crore and an Offer-for-Sale (OFS) of Rs 500 crore by promoter and founder Kiran Kumar Jain. This brings the total issue size to Rs 1,700 crore.
- Lot Size: Investors can bid for a minimum of 74 equity shares and in multiples thereafter.
- Reservations: Not more than 50% of the issue is reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for retail investors. Additionally, shares worth up to Rs 6 crore are reserved for employees, potentially at a 10% discount.
Purpose of the Issue
The proceeds from the fresh issue, amounting to Rs 1,200 crore, are primarily earmarked for expansion. Lalithaa Jewellery Mart plans to allocate up to Rs 1,033.2 crore to open 10 new stores across southern India. These funds will cover fit-outs, furniture, equipment, IT hardware, software, and inventory requirements. The remaining balance from the fresh issue will be used for general corporate purposes. The funds raised through the offer-for-sale will go directly to the promoter, Kiran Kumar Jain.
Post-IPO Schedule and Listing
Tentatively, the basis of allotment is expected to be finalised on Thursday, August 20, 2026. Refunds are scheduled to be initiated on Friday, August 21, 2026, with shares credited to demat accounts of allottees on the same day. The shares are anticipated to be listed on both the BSE and NSE on Monday, August 24, 2026.
Company Overview and Financial Performance
Lalithaa Jewellery Mart operates 61 stores across five southern Indian states and the Union Territory of Puducherry: Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and Puducherry. Notably, 45 of these stores are in Tier II and Tier III cities, which contributed 60.25% of the company's revenue in fiscal year 2026. The company specializes in gold, silver, and diamond jewellery, with products tailored to regional preferences in the southern Indian market. It claims the highest operating revenue per store among key organised jewellery players in India.
Financially, Lalithaa Jewellery Mart reported robust growth in FY26, with profit surging 177% to Rs 1,009.8 crore and revenue increasing 48.1% year-on-year to Rs 25,023.9 crore. While growth was more modest in FY25, profit rose 1.4% to Rs 364.7 crore from Rs 359.8 crore in FY24, and revenue increased 0.65% to Rs 16,897.3 crore from Rs 16,788 crore. Anand Rathi Advisors and Equirus Capital are serving as the merchant bankers for this issue.