Lalithaa Jewellery Mart Limited Files DRHP with SEBI: Plans for ₹1,700 Crore IPO
Lalithaa Jewellery Mart Limited, the Tamil Nadu-based jewellery brand, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company plans to raise ₹1,700 Crore through the initial public offering (IPO).
IPO Details
As per the DRHP,
- The IPO will combine a fresh issue of equity shares worth ₹1,200 crore with an offer for sale (OFS) of shares worth ₹500 crore with a face value of ₹5 each.
- The equity shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), as per the DRHP.
- The price band and minimum bid lot for the IPO will be determined by the company in consultation with the book-running lead manager.
- Anand Rathi Advisors Limited and Equirus Capital Private Limited are the book-running lead managers of the public issue, while MUFG Intime India Private Limited (formerly Link Intime India Private Limited) is the registrar.
Utilisation of Proceeds
The Company proposes to utilise the Net Proceeds from the issue for the following purposes:
- Funding of capital expenditure for the setting up of 12 new stores in India
- General corporate purposes.
About Lalithaa Jewellery Mart Limited
Founded in 1985, Lalithaa Jewellery Mart Ltd. is a leading jewellery brand in Tamil Nadu. It caters to the southern Indian market with a range of gold, silver, and diamond jewellery. The company has 56 stores in 47 cities in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and the Union Territory of Puducherry.
According to the CRISIL Report, Lalithaa Jewellery had the highest operating revenue per store amongst the key organised jewellery players in India between Fiscal years 2022 and 2024. The Company competes with top peers like Titan Company, Kalyan Jewellers India, Manoj Vaibhav Gems and Jewellers, PC Jeweller, P. N. Gadgil Jewellers, Senco Gold, Thangamayil Jewellery, and Tribhovandas Bhimji Zaveri.
Company Financials
According to the Company Financials, Lalithaa Jewellery Mart Limited's net profit until March 2024 increased by 51% to ₹359.8 crore. Revenue also increased by 26% to ₹16,788 crore compared to the previous year.
As of the April to December quarter of the 2024-25 fiscal, Lalithaa Jewellery Mart's consolidated revenue from operations and profit after tax (PAT) stood at ₹12,594.67 crore and ₹262.33 crore, respectively,
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