Lalithaa Jewellery IPO Oversubscribed 63x, Eyes 25% Listing Gain
By ThePip Desk
Lalithaa Jewellery Mart’s IPO oversubscribed 62.97x, attracting Rs 79,447 Cr. Strong investor demand suggests a potential 25% listing pop.
The Lalithaa Jewellery Mart IPO closed with an overall subscription of 62.97 times, securing bids worth Rs 79,447.84 crore. This strong investor interest generated over 45 lakh applications for the Rs 1,700 crore offering.
Category Subscription Breakdown
Investor enthusiasm was notably high across all segments, driving significant oversubscription rates.
- Qualified Institutional Buyers (QIBs) oversubscribed their portion by 145.38 times.
- Non-institutional investors (NIIs) saw their category oversubscribed 73.90 times.
- Retail investors subscribed 11.81 times their allotted shares.
- The employee quota was oversubscribed 8.55 times.
The IPO offered 6.27 crore shares but received over 395 crore bids in total.
Potential Listing Gains
Shares of Lalithaa Jewellery Mart are currently trading at a 25% premium in the grey market. This indicates a potential listing price of Rs 252, suggesting a profit of Rs 51 per share.
- Grey Market Premium (GMP): 25%
- Indicated Listing Price: Rs 252
- Potential Profit Per Share: Rs 51
- Potential Profit Per Lot: Rs 3,774
It is important to note that Grey Market Premium does not guarantee listing gains, as market conditions can shift. The IPO price range was set between Rs 190 and Rs 201, with a Rs 19 discount for employees.
The IPO was open from August 17 to August 19. Share allotment is expected on August 20, with shares and refunds processed by August 21. Lalithaa Jewellery Mart is slated to list on the NSE and BSE on August 24.