Latest news with #BIS-hallmarked
Mint
10 hours ago
- Business
- Mint
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.
Mint
11 hours ago
- Business
- Mint
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.
Fashion Value Chain
02-05-2025
- Business
- Fashion Value Chain
Instamart & Kalyan Jewellers Deliver Gold for Akshaya Tritiya
In a festive-first, Instamart has partnered with Kalyan Jewellers, enabling doorstep delivery of certified gold and silver coins just in time for Akshaya Tritiya across 100 Indian cities. Launched on April 25, this initiative marks Kalyan Jewellers' debut in the quick commerce space, offering consumers BIS-hallmarked gold coins (0.5g & 1g) and 999-pure silver coins (5g, 10g, 20g), adorned with auspicious motifs such as Ganesh, Lakshmi, Ayodhya, and Swastik. These coins are perfect for gifting, investment, or spiritual rituals, and will remain available year-round on Instamart beyond the festival. The partnership blends tradition with convenience, bringing precious metals to consumers within minutes, just like groceries. Amitesh Jha, CEO of Instamart, shared, 'As consumers lean into quick commerce even for festive essentials, this collaboration brings trust and ease to age-old traditions.' To celebrate, Instamart launched InstaGold, an interactive installation in Hyderabad where participants picked from hundreds of gold-foil chocolate coins—five of which were real gold. The activation brought the joy and suspense of Akshaya Tritiya to life. Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers, said, 'This partnership offers an innovative, convenient way to honor tradition. Customers can now access trusted gold and silver coins instantly, right from home.' With this move, Instamart positions itself as a destination for festive moments, not just everyday needs—offering speed, trust, and cultural relevance in every delivery.
