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
Indian Express
33 minutes ago
- Indian Express
PM has put country on path of long-term growth, says Ashwani Vaishnaw
The BJP on Wednesday highlighted the 'transformation in the lives of an average Indian citizen' as well as the strides in both the country's economy and its standing in the global order in the last 11 years of the Narendra Modi-led NDA government at the Centre. Union Minister Ashwani Vaishnaw gave a presentation on the 11 years of 'seva (service)', 'sushashan (good governance)' and 'gareeb kalyan (welfare of the poor)' under PM Modi's leadership. He said 'humongous tasks' had been fulfilled under the Prime Minister's leadership to put the country on the path of 'long-term growth'. Union Home Minister Amit Shah, Defence Minister Rajnath Singh, BJP national president Jagat Prakash Nadda, Finance Minister Nirmala Sitharaman, Road Transport and Highways Minister Nitin Gadkari besides national spokespersons and senior party leaders attended the event organised at Bharat Mandapam in the presence of senior editors and journalists from the print media. The presentation focussed on statistics related to 12 'big picture' achievements in each sector ranging from the welfare of the poor and the marginalised to the welfare of farmers and women's empowerment, ease of living for the middle class, infrastructure development, affordable healthcare and enhancement of India's per capita income from a little over `86,000 to `2 lakh, among others. In addition to this, the Union Minister also sought to underscore the changes in the very 'vision' of governance undertaken by PM Modi since taking over in 2014 with the welfare of both the nation and its citizens at their core. 'Earlier, there was competition among districts when it came to being declared 'backward', but PM Modi's vision is different; these became not backward but aspirational districts… Under his government, the economy of the very country which enslaved us for 150 years has been surpassed… 'Defence agents', once common in Delhi's corridors, are now a thing of the past,' Vaishnaw said. 'Instead of breaking the back of Naxalism, earlier governments used to only acknowledge its presence across what was called the 'Red Corridor'… Article 370 was treated as a given, something that nothing could be done about, but not any more… No other Prime Minister before him made an announcement as crucial to the welfare of our girl children as the provision of sanitary pads at `1, (a promise) made from the Red Fort,' he said. Vaishnaw also underlined India's stature as a global leader when it came to the indigenous Unified Payments Interface (UPI), through which digital transactions of an estimated `214 lakh crore had been done till January during the 2024-25. Jatin Anand is an Assistant Editor with The Indian Express. Over the last 15 years, he has covered bureaucracy & politics, crime, traffic & intelligence, the Election Commission of India & Urban Development among other beats. He is an English (Literature) graduate from Zakir Husain Delhi College, DU & specialised in Print at the Asian College of Journalism (ACJ), Chennai. He tweets @jatinpaul ... Read More
India Gazette
2 hours ago
- India Gazette
Centre reduces basic custom duty on major imported crude edible oils from 20% to 10%
New Delhi [India], June 11 (ANI): The central government on Wednesday reduced Basic Custom duty (BCD) on major imported crude edible oils from 20 per cent to 10 per cent. The Ministry of Consumer Affairs, Food and Public Distribution said in a release that the Centre has reduced the Basic Customs Duty on crude edible oils - crude sunflower, soybean, and palm oils - has been reduced from 20% to 10% resulting in the import duty differential between crude and refined edible oils from 8.75% to 19.25%. This adjustment aims to address the escalating edible oil prices resulting from the September 2024 duty hike and concurrent increases in international market prices. An advisory has been issued to edible oil associations and industry stakeholders to ensure that the full benefit of the reduced duty is passed on to consumers, the release said. It said 19.25 % duty differential between crude and refined oils will help to encourage domestic refining capacity utilization and reduce imports of refined oils. By lowering the import duty on crude oils, the government aims to reduce the landed cost and retail prices of edible oils, providing relief to consumers and helping to cool overall inflation. The reduced duty will also encourage domestic refining and maintain fair compensation for farmers. The revised duty structure will discourage the import of refined palmolein and redirect demand towards crude edible oils especially crude palm oil, thereby strengthening and revitalizing the domestic refining sector. 'This significant policy intervention not only ensures a level playing field for domestic refiners but also contributes to the stabilization of edible oil prices for Indian consumers,' a release said. A meeting with leading Edible Oil Industry Associations and industry was held under the Chairmanship of Secretary, Department of Food and Public Distribution, and advisory was issued to them to pass on the benefits from this duty reduction on to consumers. Industry stakeholders are expected to adjust the Price to Distributors (PTD) and the Maximum Retail Price (MRP) in accordance with the lower landed costs with immediate effect. The Associations have been requested to advise their members to implement immediate price reductions and share the updated brand-wise MRP sheets with the Department on a weekly basis. DFPD shared the format with edible oil industry for sharing the reduced MRP and PTD data. 'The timely transmission of this benefit to the supply chain is imperative to ensure that consumers experience a corresponding decrease in retail prices,' the release said. This decision comes after a detailed review of the sharp rise in edible oil prices following last year's duty hike. The increase led to significant inflationary pressure on consumers, with retail edible oil prices soaring and contributing to rising food inflation. (ANI)
India Gazette
2 hours ago
- India Gazette
Indian Oil quadrupled fuel supply for armed forces during Operation Sindoor: Senior official
By Shafali Nigam Port Blair (Andaman and Nicobar) [India], June 12 (ANI): Indian Oil ensured seamless fuel supply to the Indian armed forces during Operation Sindoor from Andaman and Nicobar Islands, which went up at least four times, said Rakesh Kumar, Chief Terminal Manager (CTM) of Indian Oil Corporation (IOC). 'During Operation Sindoor, the demand from defence has gone up at least four times, and we were there to supply the product just as I told you earlier. We positioned our vessels from Paradip and Haldia refineries and met their demands just in time,' Indian Oil Corporation CTM said. Mentioning the demand during Operation Sindoor, he said, 'In case of need, just like a few months back, at the demand of the Indian Navy, we positioned our vessels from Paradip refinery and Haldia refinery at a notice of just three days.' Indian Oil demonstrated its strategic preparedness and operational efficiency and played a pivotal role in ensuring uninterrupted fuel supply during Operation Sindoor, the official said, adding that despite a fourfold increase in fuel demand from defence establishments, the state-owned oil PSU successfully met requirements by mobilising vessels from its mainland refineries within days. 'We have a very high level of good coordination with defence, almost on a daily basis. Since they are taking products from us, they have requirements. We interact with them on a weekly basis, and we hold meetings with their supply department as well,' he said about coordination with defence and security agencies in fuel supply or infrastructure planning. During a field visit to the Indian Oil POL Terminal in Port Blair, organised by the Ministry of Petroleum & Natural Gas for the press, when asked if there are any protocols in case of an emergency situation, Kumar said, 'In case of need, just like a few months back, at the demand of the Indian Navy, we positioned our vessels from Paradip refinery and Haldia refinery at a notice of just three days.' 'We are at the smart terminal of Indian Oil. Here, we have a tanking of 27,000 KL. We are dealing with four products over here, which are petrol, diesel, low-sulphur HFHSD and HSD,' he added. In response to the questions on emergency protocols in place for fuel shortages or natural disasters like cyclones or tsunamis, he said, 'We have emergency protocols. Sufficient tankage is there. On average, we have 25 days of coverage for all the products.' He said the state-run oil major is planning to expand services or upgrade existing infrastructure in the Andaman and Nicobar Islands. 'We have plans. This terminal is a 27 TKL terminal and a POL terminal. We have requested one more station and we are in an advanced stage of getting new land in Hope Town, where our bottling plant is situated,' he added. Speaking with ANI, V. Ranganathan, Chief General Manager from West Bengal State Office and Port Blair said, 'Port Blair is one of the unique locations where a lot of challenges are there with respect to logistics, as well as product availability.' (ANI)
