Lalithaa Jewelry information draft papers with SEBI; seeks to boost ₹1,700 crore through IPO

Jewelry participant Lalithaa Jewelry Mart has filed preliminary papers with markets regulator SEBI searching for its approval to boost ₹1,700 crore via an Preliminary Public Providing (IPO).

The Chennai-based firm’s proposed IPO is a mix of a recent problem of shares price ₹1,200 crore and an offer-for-sale of equities valued at ₹500 crore by M Kiran Kumar Jain, in line with the Draft Purple Herring Prospectus (DRHP).

The difficulty features a reservation for a subscription by eligible workers, and a reduction is being provided to such workers.

As per the draft papers filed on Friday, proceeds from the recent problem to the tune of Rs 1,014.50 crore will probably be used for establishing new shops, and a portion can be utilised for common company functions.

Lalithaa Jewelry Mart, which opened its first retailer in 1985 in T Nagar locality of Chennai, sells gold jewelry, silverware and diamond jewelry.

It had 56 shops, out of which 22 are in Andhra Pradesh, 20 in Tamil Nadu, seven in Karnataka, six in Telangana and one within the Union Territory of Puducherry as of December 31, 2024.

On the monetary entrance, Lalithaa Jewelry Mart’s consolidated income from operations and revenue after tax stood at ₹12,594.67 crore and ₹262.33 crore, respectively, for the 9 months ended December 31, 2024.

Anand Rathi Advisors and Equirus Capital are the book-running lead managers of the problem. The fairness shares are proposed to be listed on the BSE and NSE.