Lalithaa Jewellery Mart IPO price band fixed at Rs 190-201 for Rs 1,700 crore IPO; issue opens on August 17

Chennai-based jewellery retailer Lalithaa Jewellery Mart has set the price band for its Rs 1,700-crore initial public offering (IPO) at Rs 190-201 per share. The mainboard issue will open for subscription on August 17 and is scheduled to list on both the BSE and NSE.

The company will raise Rs 1,200 crore through a fresh issue of shares, while promoter and founder Kiran Kumar Jain will offload shares worth Rs 500 crore through an offer-for-sale (OFS).

Lalithaa Jewellery Mart IPO details

The IPO will open for public subscription on August 17 and close on August 19. Ahead of the issue, the one-day anchor book for domestic and global institutional investors will open on August 14.


Share allotment is expected to be finalised by August 20, with the company's shares likely to make their market debut on August 24. Lalithaa Jewellery Mart has reserved shares worth up to Rs 6 crore for its employees, which may be offered at a 10% discount to the final issue price.

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Of the net offer, excluding the employee portion, 50% has been reserved for qualified institutional buyers (QIBs), with up to 60% of the QIB portion available to anchor investors. Retail investors have been allocated 35%, while non-institutional investors will receive the remaining 15%.

At the upper end of the price band, the company's price-to-earnings (P/E) ratio, based on diluted earnings per share for financial year 2026, stands at 9.95 times. At the lower end, the P/E ratio is 9.41 times, compared with an average industry peer-group P/E ratio of 29.69 times for FY26.

The floor price is 38 times the face value, while the cap price is 40.20 times the face value. Investors can bid for a minimum of 74 equity shares and in multiples of 74 shares thereafter.

Lalithaa Jewellery IPO use of proceeds

Lalithaa Jewellery Mart plans to use the remaining proceeds from the fresh issue for general corporate purposes. The Rs 500 crore raised through the OFS will go to promoter Kiran Kumar Jain.

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About Lalithaa Jewellery

The retailer sells gold, silver and diamond jewellery under the Lalithaa brand, with products tailored to regional preferences across southern India. It operates 61 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and the Union Territory of Puducherry.

Tier II and Tier III cities account for 45 of its stores and contributed 60.25% of the company’s revenue in FY26.

Anand Rathi Investment Banking and Equirus are the book-running lead managers for the issue, while MUFG has been appointed as the registrar.

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