IPO
Lalithaa Jewellery’s Rs.1,700-Cr IPO subscribed 63x
Chennai-based jewellery retailer, Lalithaa Jewellery Mart Ltd , concluded its INR 1700 crore initial public offering, with the total issue subscribed 62.97 times. The offering, priced at a band of INR 190-201 per share, saw bids for about 39.52 crore shares against the 6.27 crore shares offered.Qualified institutional buyers led the demand, subscribing 145.38 times their reserved portion, while non-institutional investors subscribed 73.89 times. Retail individual investors subscribed 11.81 times their allocated quota, and the portion reserved for employees was subscribed 8.55 times. SBI Securities served as an advisor to the transaction.Founded in 1983, the company operates a network of 61 jewellery stores across five southern states. The company plans to use INR 1,033 crore of the fresh issue proceeds to fund the opening of 10 new store locations.
For FY25, Lalithaa Jewellery had reported about INR 16,897 Cr in Operating Income and about INR 363 Cr in PAT.
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