Lalithaa Jewellery Mart to launch ₹1,700 cr IPO on August 17; price band set at ₹190-201
The price band for the issue has been fixed at ₹190-201 per share, valuing the company at around ₹11,250 crore at the upper end of the price band
Lalithaa Jewellery Mart Ltd plans to launch a ₹1,700 crore Initial Public Offering (IPO) on August 17, aiming to raise capital for store expansion. The company has set a price band of ₹190-201 per share, which would value the business at approximately ₹11,250 crore at the higher end. The IPO includes a fresh share issuance of up to ₹1,200 crore and an Offer For Sale (OFS) of up to ₹500 crore.
Proceeds from the fresh issue will mainly fund new store openings, with a portion allocated for general corporate use. The IPO will be open for subscription until August 19, with anchor investor bidding commencing on August 14. Within the total allocation, 50% is designated for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors.
The shares are expected to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 24.
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