Lalithaa Jewellery’s ₹1,700 crore IPO opens August 17; price band fixed at ₹190-201

Lalithaa Jewellery Mart Ltd, a Chennai-based jewellery company, has set the price band for its initial public offering at ₹190 to ₹201 per share. The company plans to raise up to ₹1,700 crore through a fresh issue of shares and an offer for sale by promoter M. Kiran Kumar Jain. The IPO will open for subscription on August 17 and close on August 19.

Promoter Jain has the option to bid for up to 50% of the net offer, while at least 15% of the shares must be allocated to non-institutional bidders and 35% to retail individual investors. The company's stores are concentrated in tier-II and tier-III cities, contributing to 60.25% of its revenue. Lalithaa's manufacturing facilities are located in Thirumudivakkam, Chennai, and Maraimalai, Kanchipuram, with 79.11% of total products manufactured in-house.