Lalithaa Jewellery Mart IPO price band announced: Issue opens on Aug 17; check key details

Lalithaa Jewellery Mart has fixed the price band for its initial public offering at Rs 190 to Rs 201 per equity share of face value Rs 5. The public issue will open for subscription on Monday, 17 August, and close on Wednesday, 19 August, while the allocation to anchor investors is scheduled for Friday, 14 August.

The IPO comprises a fresh issue of shares worth Rs 1,200 crore and an offer-for-sale of shares worth Rs 500 crore by promoter and founder Kiran Kumar Jain. The company plans to use up to Rs 1,033.2 crore from the fresh issue proceeds to open 10 new stores across southern India, with the balance to be used for general corporate purposes. The proceeds from the offer-for-sale will go to the promoter.

The lot size for the IPO has been fixed at 74 equity shares and in multiples of 74 equity shares thereafter. Not more than 50 per cent of the shares in the public issue have been reserved for qualified institutional buyers, not less than 15 per cent for non-institutional investors, and not less than 35 per cent for retail investors. The company has also reserved shares worth up to Rs 6 crore for employees, which may be offered at a 10 per cent discount to the final offer price.

Tentatively, the basis of allotment is expected to be finalised on Thursday, 20 August. Refunds are scheduled to be initiated on Friday, 21 August, and shares are expected to be credited to the demat accounts of allottees on the same day following refunds. The shares are likely to be listed on the BSE and NSE on Monday, 24 August.

According to the company, the funds earmarked for expansion will be used for store fit-outs, including furniture and fixtures, equipment, IT hardware and software, and inventory requirements. Anand Rathi Advisors and Equirus Capital have been appointed as the merchant bankers for the issue.

Lalithaa Jewellery Mart sells gold, silver and diamond jewellery under the Lalithaa brand, with products tailored to regional preferences in the southern Indian jewellery market. The company has said it has the highest operating revenue per store among key organised jewellery players, including Kalyan Jewellers, PC Jeweller, P N Gadgil Jewellers, Senco Gold, Titan Company and Tribhovandas Bhimji Zaveri.

The company operates 61 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and the Union Territory of Puducherry. Of these, 45 stores are in Tier II and Tier III cities, which contributed 60.25 per cent of the company’s revenue in FY26.

Lalithaa Jewellery Mart reported a profit of Rs 1,009.8 crore in FY26, up 177 per cent from the previous year, while revenue rose 48.1 per cent year-on-year to Rs 25,023.9 crore. Growth, however, was much weaker in FY25. Profit rose 1.4 per cent to Rs 364.7 crore from Rs 359.8 crore in FY24, while revenue increased 0.65 per cent to Rs 16,897.3 crore from Rs 16,788 crore.