&w=3840&q=100)
Lalithaa Jewellery files draft papers with Sebi, to raise ₹1,700 cr via IPO
Jewellery player Lalithaa Jewellery Mart has filed preliminary papers with markets regulator Sebi seeking its approval to raise ₹ 1,700 crore through an Initial Public Offering (IPO).
The Chennai-based company's proposed IPO is a combination of a fresh issue of shares worth ₹1,200 crore and an offer-for-sale of equities valued at ₹500 crore by M Kiran Kumar Jain, according to the Draft Red Herring Prospectus (DRHP).
The issue includes a reservation for a subscription by eligible employees, and a discount is being offered to such employees.
As per the draft papers filed on Friday, proceeds from the fresh issue to the tune of ₹1,014.50 crore will be used for setting up new stores, and a portion would be utilised for general corporate purposes.
Lalithaa Jewellery Mart, which opened its first store in 1985 in T Nagar locality of Chennai, sells gold jewellery, silverware and diamond jewellery.
It had 56 stores, out of which 22 are in Andhra Pradesh, 20 in Tamil Nadu, seven in Karnataka, six in Telangana and one in the Union Territory of Puducherry as of December 31, 2024.
On the financial front, Lalithaa Jewellery Mart's consolidated revenue from operations and profit after tax stood at ₹12,594.67 crore and ₹262.33 crore, respectively, for the nine months ended December 31, 2024.
Anand Rathi Advisors and Equirus Capital are the book-running lead managers of the issue. The equity shares are proposed to be listed on the BSE and NSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Hindu
an hour ago
- The Hindu
ASBL to launch 50-storey residential project in Hyderabad's financial district
Hyderabad-based real estate developer ASBL is set to launch its latest residential project, Broadway, on June 14 in the Financial District. The project has received approval from the Real Estate Regulatory Authority (RERA), said a release. Spread across five acres, Broadway will feature three high-rise towers with G+50 floors, comprising a total of 885 three-bedroom apartments. The flats will range from 2,035 to 2,650 square feet, and the project is scheduled for completion and handover by December 2029. Ajitesh Korupolu, founder and CEO of ASBL, said: 'Since 2015, Mercer has ranked Hyderabad as India's most liveable city six times, highlighting its tranquillity, cosmopolitan appeal and safety. With Broadway, we aim to contribute to this standard by building a community that exemplifies comfort, connectivity, and modern urban living,'
&w=3840&q=100)

Business Standard
2 hours ago
- Business Standard
Samsung assembled more mobile phones in India than Apple last year
Korean firm makes more phones across most segments and has higher volumes: S&P report Surajeet Das Gupta New Delhi Listen to This Article Samsung's global volume share of final assembling of smartphones in India might not get the same focus as that of Apple Inc because of the latter's aggressive export strategy and higher average selling price leading to higher value. But in terms of volume, the reality is that Samsung is much higher than its US rival. A research by S&P Global shows that Samsung's share of global final assembly volume of smartphones in India in 2024 was at 25 per cent compared to only 15 per cent of the Cupertino-based Apple Inc in the same period. For Samsung, its biggest exposure


Time of India
2 hours ago
- Time of India
tilaknagar industries: Allied Blenders buys rights to Mansion House and Savoy Club Brands
Mumbai: Allied Blenders and Distillers Ltd (ABD) said it has acquired global rights for Mansion House and Savoy Club brands from UTO Asia for $1.2 deal excludes territories such as Singapore, Malaysia, Indonesia, Philippines, Thailand, Cambodia, Vietnam, Laos, China, and Myanmar."The acquisition of UTO Asia and the associated ownership of worldwide right, title interest in the Mansion House and Savoy Club brands aligns with ABD's strategic expansion objectives, allowing it to gain full control over the Mansion House and Savoy Club brands on a global scale, while specifically addressing regional interests in key markets," it said in a BSE filing. In India, Tilaknagar Industries Ltd and ABD are involved in a trademark dispute over these brands. While Tilaknagar holds exclusive rights to sell these brands in India, ABD has been granted permission by the Bombay High Court to launch products under the same brand names, particularly in West Industries entered a pact with Herman Jensen (formerly UTO) nearly four decades ago and had claimed the latter ceded the rights of Mansion House brandy to rescue itself from a court action in Rotterdam in 1987. Under this arrangement, Jensen would retain Mansion House brand in whisky, which was a bigger business then. The Dutch side, however, argued that the arrangement was never legally solemnised and moved courts in 2008, when Mansion House brandy had emerged as a formidable brand in the Indian December 2011, a one-member bench of the Bombay HC held that Tilaknagar had the rights to Mansion House in India, but Herman Jensen went on to appeal before a division bench. In 2014, ABD bought a 50% stake in the two brands from Herman Jansen, giving ABD rights to produce and sell them in the country. In February this year, the Bombay HC dismissed Tilaknagar's plea and granted Allied Blenders permission to use the Mansion House brand name for some of its products in West Bengal.