Lalithaa Jewellery IPO: ₹508 Cr Anchor Investment Secured
Interior view of a high-end jewelry store with multiple display cases and natural light.
Key Highlights
Lalithaa Jewellery Mart raises ₹508 crore from 22 anchor investors, including Goldman Sachs, ahead of its ₹1,700 crore IPO. Price band set at ₹190-₹201.
Lalithaa Jewellery Mart has successfully secured ₹508 crore from anchor investors, a significant step ahead of its ₹1,700-crore initial public offering.
The company allocated 2.53 crore equity shares to a total of 22 anchor investors. Each share was priced at ₹201.
Anchor Investor Breakdown
- Among the 22 investors were major financial players like Goldman Sachs, ICICI Prudential Mutual Fund, and Bandhan Mutual Fund.
- Domestic mutual funds collectively secured a substantial 45.26% of the total anchor portion.
Timeline and Valuation
The much-anticipated IPO is scheduled to launch for public subscription between August 17 and August 19.
The price band for the offering has been set between ₹190 and ₹201 per share. At the upper end of this price range, Lalithaa Jewellery Mart’s valuation is projected to be around ₹11,250 crore.
Offering Components
The IPO structure includes two main components to raise capital.
- A fresh issue of up to ₹1,200 crore, which is earmarked for financing new store expansions.
- An offer-for-sale () component of up to ₹500 crore.
Lalithaa Jewellery Mart, established in Chennai in 1985, specializes in a diverse range of gold, silver, and diamond jewellery.
The company’s shares are slated for listing on both the and on August 24, marking its debut on the major stock exchanges.