Lalithaa Jewellery Raises ₹508 Cr from Anchor Investors Ahead of IPO

Lalithaa Jewellery Mart Ltd successfully secured Rs 508 crore from anchor investors on Friday, preceding its larger Rs 1,700-crore Initial Public Offering (IPO).

• Anchor investors were allotted 2.53 crore equity shares.
• The shares were priced at Rs 201 per share for these investors.
• A total of 22 anchor investors participated in the round.
• Domestic mutual funds received 1.14 crore shares, representing 45.26 percent of the total anchor portion.

Prominent names among the anchor investors included Goldman Sachs, ICICI Prudential Mutual Fund, and Bandhan Mutual Fund.

• Other notable participants were Sanshi Fund-I, Kotak Mahindra Life Insurance Company, Morgan Stanley India Investment Fund, and Bajaj Life Insurance.

Upcoming IPO Details

The main IPO for Lalithaa Jewellery Mart is set to open on August 17 and will conclude on August 19. The price band for the offering is established between Rs 190 and Rs 201 per share.

• The company is valued at approximately Rs 11,250 crore at the upper end of the price band.
• The offering comprises a fresh issue of up to Rs 1,200 crore, aimed at financing new store expansions.
• An offer-for-sale component accounts for up to Rs 500 crore of the total IPO size.

Lalithaa Jewellery Mart, which commenced operations in Chennai in 1985, specializes in gold, silver, and diamond jewellery. Shares are scheduled for listing on the BSE and NSE on August 24.