Lalithaa Jewellery Raises Rs 508 Cr From Anchor Investors Ahead of IPO
By Business Desk
Lalithaa Jewellery Mart Ltd. secures Rs 508 crore from 22 anchor investors, including Goldman Sachs, ahead of its Rs 1,700-crore IPO launch. Details inside.
Lalithaa Jewellery Mart Ltd. has secured Rs 508 crore from anchor investors, finalizing this capital raise just days ahead of its Rs 1,700-crore Initial Public Offering.
The jewellery retailer allotted 2.53 crore equity shares to 22 anchor investors at a fixed price of Rs 201 per share.
Key Financials
- Anchor Investment: Rs 508 crore
- Total Anchor Shares Allotted: 2.53 crore
- Price Per Share: Rs 201
- Total IPO Size: Rs 1,700 crore
- Upper End Valuation: Rs 11,250 crore
Prominent anchor investors included Goldman Sachs Bank Europe, ICICI Prudential Mutual Fund, and Bandhan Mutual Fund. Four domestic mutual funds collectively acquired 1.14 crore shares, accounting for 45.26 percent of the total anchor portion.
IPO Schedule and Structure
- IPO Opening: August 17
- IPO Closing: August 19
- Price Band: Rs 190 to Rs 201 per share
- Fresh Issue Component: Up to Rs 1,200 crore
- Offer-for-Sale Component: Up to Rs 500 crore
Funds from the fresh issue are primarily slated for financing the opening of new stores. Lalithaa Jewellery Mart, which began operations in 1985 in Chennai’s T Nagar, specializes in gold, silver, and diamond jewellery.
The company’s shares are scheduled for listing on both the BSE and NSE on August 24.