
IPO Watch: Lalithaa Jewellery Mart files draft papers with SEBI for ₹1,700 crore IPO
IPO Watch: Lalithaa Jewellery Mart Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO).
A jewellery company based in Chennai specializes in selling gold jewellery, with additional offerings that include silver items and diamond jewellery. It caters to the southern Indian market through its 56 stores, which are operational in Tier I, II, and III cities, and provides authenticated BIS-hallmarked jewellery.
Out of these stores, 22 are located in Andhra Pradesh, 20 in Tamil Nadu, seven in Karnataka, six in Telangana, and one is in the Union Territory of Puducherry, covering a total operational area of 6,09,408 sq. ft. as of December 31, 2024. Among these, 47 stores have a combined area exceeding 5,000 sq. ft. each.
For the nine-month period ending December 31, 2024, the consolidated revenue from operations and profit after tax were reported at ₹ 12,594.67 crore and ₹ 262.33 crore, respectively.
The IPO, which has a face value of ₹ 5, consists of a fresh issue amounting to ₹ 1200 crore and an offer-for-sale up to ₹ 500 crore by M. Kiran Kumar Jain.
The funds raised from the fresh issue, specifically ₹ 1014.50 crore, will be utilized for capital expenditures related to the establishment of new stores in India, as well as for general corporate purposes.
The offering is being conducted via a book-building process, where no more than 50% of the net offer is designated for qualified institutional buyers, while at least 15% and 35% of the net offer are allocated to non-institutional and retail individual bidders, respectively. It features a reservation for subscriptions from eligible employees, and a discount is being provided to those employees who participate in the employee reservation segment.
Anand Rathi Advisors Limited and Equirus Capital Private Limited serve as the book-running lead managers, while MUFG Intime India Private Limited acts as the registrar for the issue.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)

Business Standard
20 minutes ago
- Business Standard
Reliance Defence partners Diehl for precision-guided munitions in India
Reliance Defence and Diehl Defence tie up for local production of 155 mm guided munitions in Ratnagiri, with Rs 5,000 crore investment planned over five years Mumbai Anil Ambani's Reliance Defence (R-Defence) has tied up with Germany-based Diehl Defence to produce next-generation terminally guided munitions (TGM) for the Indian armed forces. The partnership with Diehl will drive local production of the Vulcano 155 mm precision-guided munition system, R-Defence stated. As part of the agreement, R-Defence will establish a large, high-tech, greenfield, integrated ammunition and explosive manufacturing facility in Watad Industrial Area in Ratnagiri, Maharashtra. 'This strategic alliance not only accelerates the advancement of India's defence manufacturing capabilities, but also positions Reliance Defence as a pivotal player in the global defence supply chain,' Ambani, founder and chairman of the Reliance Group, said. In May, the company had tied up with another Germany-based defence firm, Rheinmetall AG, to supply the explosives and propellants for medium- and large-calibre ammunition. The facilities for the above-mentioned partnerships in Ratnagiri will be established with an investment of ₹5,000 crore over the next five years, a company source stated. R-Defence is aiming to start manufacturing in the next 18 months, as it has the land and principal approvals for the plant in place. The company aims to fund 30 per cent of the investment via equity and the other 70 per cent via debt. The equity is likely to come from the company's internal cash accruals, the source said. R-Defence aims to be amongst the country's top three private defence exporters in the next 12 to 24 months. It is likely to sign long-term agreements with firms like Diehl and Rheinmetall for 5 to 10 years in the coming months. The partnerships are a part of the company's ammunition-focused strategy, where the products made in India will have 60 per cent indigenous content. It is eyeing the market opportunity to potentially generate ₹10,000 crore in revenue through the development and supply of advanced ammunition systems. This tie-up with Diehl is also Reliance Group's fourth global partnership, expanding upon its established collaborations with Dassault Aviation, Thales Group of France, and Rheinmetall. Additionally, Diehl Defence's product portfolio includes air defence systems, missiles for all branches of the armed forces, and ammunition for the army, air force, and navy, as well as protection systems, generating annual sales of over 2 billion euros.


Time of India
31 minutes ago
- Time of India
IGNOU launches MBA programmes in Hindi and Odia
New Delhi: In a move aligned with National Education Policy (NEP) 2020, Indira Gandhi National Open University (IGNOU) announced the launch of its MBA programmes in Hindi and Odia mediums, with corresponding study materials now available in both languages. This initiative is part of a larger collaboration with All India Council for Technical Education (AICTE) under the E-Kumbh project, a national effort to translate core academic content into twelve Indian languages. Using AICTE's advanced machine translation tool, Anuvadini, IGNOU successfully localised its MBA curriculum to better serve learners who prefer to study in their native languages. The university also plans to roll out MBA programmes in 10 more Indian languages, making a significant stride toward eliminating linguistic barriers in management education. "This initiative marks a milestone in our pursuit of educational equity," said Mrutyunjay Behera, joint secretary, department of higher education, ministry of education. "By offering MBA programmes in regional languages, IGNOU is bringing professional education closer to the grassroots, in full alignment with NEP 2020's emphasis on multilingual and inclusive education. This is more than a policy implementation, it's a cultural transformation in education." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo Professor Uma Kanjilal, vice-chancellor, IGNOU, expressed gratitude to the dignitaries and partners, adding, "Technology is the key enabler here, allowing us to create high-quality educational experiences across languages. Our mission is to ensure that no learner is left behind, regardless of their linguistic background." Dr Abhay Jere, VC, AICTE, emphasised the transformative role of artificial intelligence in education. "We are entering a new era where AI is enabling real-time translation and localisation of content at an unprecedented scale. The Anuvadini tool represents a powerful step in making education truly borderless," he said.


Time of India
34 minutes ago
- Time of India
Robert Vadra skips ED summons in PMLA case linked to Sanjay Bhandari
Robert Vadra , the businessman husband of Congress MP Priyanka Gandhi Vadra , on Tuesday skipped an ED summons for questioning in a money laundering case linked to UK-based alleged arms consultant Sanjay Bhandari , official sources said. The sources said Vadra sought an adjournment of Tuesday's summons, and he will now be given a fresh date. The ED wants to record Vadra's statement under the Prevention of Money Laundering Act (PMLA) and then file a chargesheet against him before the court, sources said. The federal probe agency had questioned the 56-year-old businessman for three consecutive days in April in a separate money laundering case linked to alleged irregularities in a 2008 land deal in Haryana. Bhandari (63) fled to London in 2016, soon after the Income Tax Department raided him in Delhi. Live Events A UK court earlier this month refused an application filed by the Indian government seeking permission to appeal in Britain's Supreme Court against the discharge of Bhandari in an extradition case , virtually ruling out chances of him being brought to the country to face the law. The ED filed a chargesheet in this case in 2023, alleging that Bhandari acquired the 12, Bryanston Square house in London in 2009 and got it renovated "as per the directions of Robert Vadra, who provided the funds for the renovation". Vadra has denied that he owns any London property directly or indirectly. Terming the charges a "political witch hunt", Vadra said he was being "hounded and harassed" to subserve political ends. The ED is also investigating Vadra in a separate money laundering case linked to alleged financial irregularities in a land deal in Rajasthan's Bikaner. The federal probe agency had previously questioned Vadra and his mother, Maureen, in this case.