Lalithaa Jewellery Mart Limited announces its public offering, aiming to raise ₹1,700 crore with a focus on smaller cities in southern India, as it strengthens its presence through new stores and in-house manufacturing.
Lalithaa Jewellery Mart Limited has set the price band for its initial public offering at ₹190 to ₹201 a share, with the issue due to open on August 17 and close on August 19, 2026. Investors will be able to bid for a minimum of 74 shares and in multiples of 74 thereafter, according to the company’s red herring prospectus.
The offering combines a fresh issue of up to ₹1,200 crore with an offer for sale of up to ₹500 crore by promoter M. Kiran Kumar Jain, taking the total size to ₹1,700 crore. Anand Rathi Advisors and Equirus Capital are acting as book-running lead managers, while MUFG Intime India is the registrar, the filing shows.
Lalithaa, which trades jewellery under the same brand name, is focused on gold, silver and diamond pieces targeted at southern India’s retail market. The company said it had 61 stores across 51 cities in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Puducherry as of March 31, 2026, with 45 outlets in tier-two and tier-three cities contributing 60.25% of revenue. That emphasis on smaller cities is central to its growth story, with the company arguing that its in-house manufacturing and large-format stores help it offer competitive prices and a wider selection.
The business also runs customer schemes such as Dhana Vandhanam and Free-yo-Flexi to encourage repeat purchases, and it operates manufacturing facilities in Chennai and Kanchipuram. Its financial performance has strengthened sharply, with revenue from operations rising to ₹25,023.93 crore in FY26 from ₹16,788.05 crore in FY24 and net profit increasing to ₹1,009.82 crore from ₹359.83 crore over the same period, according to the prospectus. Separately, company registry data and IPO trackers describe Lalithaa as a long-established Chennai-based jewellery business, though some market databases list a lower store count than the company’s own filing.
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