17 Aug 2026 , 01:13 PM
Lalithaa Jewellery Mart IPO is a ₹1,700 crore book-built public issue comprising a fresh issue of 5.97 crore shares aggregating to ₹1,200 crore and an offer for sale (OFS) of 2.49 crore shares worth ₹500 crore. The IPO opened for subscription on August 17, 2026, and will close on August 19, 2026.
The Lalithaa Jewellery Mart IPO price band has been fixed at ₹190 to ₹201 per share, with a lot size of 74 shares. At the upper price band, retail investors need to invest a minimum of ₹14,874 for one lot.
The shares are proposed to be listed on both the NSE and BSE, with the tentative listing date scheduled for August 24, 2026.
| Particulars | Details |
|---|---|
| IPO Name | Lalithaa Jewellery Mart IPO |
| IPO Open Date | August 17, 2026 |
| IPO Close Date | August 19, 2026 |
| IPO Allotment Date | August 20, 2026 |
| Refund Initiation | August 21, 2026 |
| Demat Credit | August 21, 2026 |
| Tentative Listing Date | August 24, 2026 |
| Issue Size | ₹1,700 crore |
| Fresh Issue | ₹1,200 crore |
| Offer for Sale | ₹500 crore |
| Price Band | ₹190 to ₹201 per share |
| Face Value | ₹5 per share |
| Lot Size | 74 shares |
| Minimum Retail Investment | ₹14,874 |
| Issue Type | Bookbuilding IPO |
| Listing | BSE, NSE |
| Employee Discount | ₹19 per share |
| Lead Manager | Anand Rathi Advisors Ltd. |
| Registrar | MUFG Intime India Pvt. Ltd. |
The ₹1,700 crore Lalithaa Jewellery Mart IPO consists of two components:
The total issue size is 8,46,08,276 shares.
The fresh issue will bring new capital into the company, while the OFS component represents shares being sold by existing shareholders. The company intends to use the net proceeds primarily for expanding its retail store network and supporting inventory requirements for new stores.
The IPO timeline is as follows:
Investors who apply for the Lalithaa Jewellery Mart IPO can check the allotment status after the basis of allotment is finalised, subject to the applicable process.
The company has fixed the IPO price band at ₹190 to ₹201 per share. The IPO lot size is 74 shares.
At the upper price band of ₹201, the minimum investment for a retail investor is:
74 shares × ₹201 = ₹14,874
Investors can therefore apply for a minimum of one lot, subject to the applicable investor category and IPO rules.
The issue also includes a reservation of up to 3,29,670 shares for eligible employees, who will receive a discount of ₹19 per share to the issue price.
The Lalithaa Jewellery Mart IPO GMP stood at ₹33 on August 17, 2026, based on the provided market data. At the upper IPO price of ₹201, this indicated an estimated listing price of approximately ₹234, representing a potential premium of around 16.42% over the issue price.
| GMP Date | IPO Price | GMP | Estimated Listing Price | Estimated Gain |
| August 17, 2026 | ₹201 | ₹33 | ₹234 | 16.42% |
| August 16, 2026 | ₹201 | ₹29.5 | ₹230.5 | 14.68% |
| August 15, 2026 | ₹201 | ₹26 | ₹227 | 12.94% |
| August 14, 2026 | ₹201 | ₹24 | ₹225 | 11.94% |
| August 13, 2026 | ₹201 | ₹38 | ₹239 | 18.91% |
| August 12, 2026 | ₹201 | ₹41 | ₹242 | 20.40% |
| August 11, 2026 | ₹201 | ₹17 | ₹218 | 8.46% |
| August 10, 2026 | — | ₹0 | — | — |
The GMP has shown volatility in the days leading up to the IPO, moving from ₹41 on August 12 to ₹24 on August 14 before recovering to ₹33 on August 17.
Investors should note that Grey Market Premium (GMP) is unofficial and can change quickly. GMP is not a reliable indicator of the actual listing price and should not be the sole basis for an investment decision.
The Lalithaa Jewellery Mart IPO opened for subscription on August 17, 2026 and will remain open until August 19, 2026.
The provided data showed an overall subscription of 0.2x as of August 17, 2026 at 11:33 AM.
As the IPO remains open for subscription, the final subscription figures can change significantly before the closing date.
Incorporated in November 1985, Lalithaa Jewellery Mart Limited is a jewellery retail company with a strong presence across South India. The company primarily serves the mass and value-conscious customer segment, offering a broad range of gold, silver, diamond, precious and semi-precious jewellery.
The company focuses on quality, craftsmanship and original designs, with established brand acceptance particularly in Tier II and Tier III cities across southern India.
Lalithaa Jewellery Mart operates through Large Format Stores and Medium Format Stores, allowing it to expand its retail footprint while serving customers across different markets.
The company follows an asset-light retail business model with backward integration, supported by inventory management and quality-control processes. It also offers a range of jewellery schemes that contribute to its customer base.
As of March 31, 2026, Lalithaa Jewellery Mart had 7,059 employees across senior management, managerial, sales, security, administration, back-office and other functions.
The company has established a regional presence in South India and focuses on markets with growing demand for organised jewellery retail.
Lalithaa Jewellery Mart targets customers looking for jewellery across a wide range of price points, with an emphasis on quality, designs and value.
Its brand has established acceptance in Tier II and Tier III cities, providing the company with an opportunity to expand its footprint beyond major urban centres.
The company’s Large Format and Medium Format store strategy provides a platform for expanding its physical retail presence.
The company offers gold, silver, diamond, precious and semi-precious jewellery across multiple designs and categories.
Its diverse jewellery schemes contribute to customer engagement and help support its customer base.
The company’s retail operations are supported by backward integration, inventory management and quality-control processes.
The company is led by an experienced promoter and management team with established execution capabilities in the jewellery retail business.
Lalithaa Jewellery Mart reported significant growth in revenue and profitability in FY2026.
Its total income increased from ₹16,907.88 crore in FY2025 to ₹25,039.80 crore in FY2026, representing growth of approximately 48%.
Profit after tax increased from ₹364.73 crore in FY2025 to ₹1,009.82 crore in FY2026, an increase of approximately 177%.
| Particulars | FY2026 | FY2025 | FY2024 |
| Assets | ₹10,945.14 Cr | ₹6,929.68 Cr | ₹5,182.26 Cr |
| Total Income | ₹25,039.80 Cr | ₹16,907.88 Cr | ₹16,800.62 Cr |
| Profit After Tax | ₹1,009.82 Cr | ₹364.73 Cr | ₹359.83 Cr |
| Net Worth | ₹3,033.14 Cr | ₹2,028.80 Cr | ₹1,667.78 Cr |
| Reserves & Surplus | ₹2,679.74 Cr | ₹1,675.39 Cr | ₹1,552.46 Cr |
| Total Borrowings | ₹1,604.14 Cr | ₹949.26 Cr | ₹824.18 Cr |
Figures in ₹ crore.
The sharp increase in profitability in FY2026 is one of the key financial developments investors may consider while evaluating the IPO.
As of March 31, 2026, the company’s key performance indicators were:
| KPI | March 31, 2026 |
| ROE | 41.60% |
| ROCE | 42.60% |
| Debt/Equity | 0.53 |
| RoNW | 39.90% |
| PAT Margin | 4.04% |
| NAV | ₹58.60 |
| Price to Book Value | 3.43 |
The reported ROE of 41.60% and ROCE of 42.60% indicate strong returns relative to the company’s equity and capital employed. At the same time, the debt-to-equity ratio of 0.53 provides investors with an indication of the company’s leverage position.
The company proposes to utilise the net proceeds from the IPO towards store expansion, inventory requirements and general corporate purposes.
The major objects include:
| Object of the Issue | Estimated Amount |
| Capital expenditure for setting up 10 new stores | ₹34.55 Cr |
| Inventory costs for setting up 10 new stores | ₹998.68 Cr |
| General Corporate Purposes | Balance amount |
| Total | ₹1,033.23 Cr |
A significant portion of the proposed proceeds is therefore earmarked for inventory costs associated with setting up 10 new stores.
This indicates that retail expansion is a central part of the company’s post-IPO growth strategy.
Based on the provided valuation data, Lalithaa Jewellery Mart has the following valuation metrics:
| Valuation Metric | Pre-IPO | Post-IPO |
| EPS | ₹20.20 | ₹18.04 |
| P/E | 9.95x | 11.14x |
| Market Capitalisation at Offer Price | ₹10,050 Cr | ₹11,250 Cr |
The post-issue P/E multiple of 11.14x provides investors with a valuation reference point when assessing the IPO against comparable listed jewellery and retail companies.
Investors should also consider the risks associated with the jewellery retail business before subscribing to the IPO.
Jewellery retailers are exposed to fluctuations in gold and other precious metal prices, changing consumer demand, inventory requirements and working-capital needs. The company’s expansion strategy also requires substantial inventory investment, as reflected in the IPO’s proposed utilisation of funds.
The OFS component of ₹500 crore will not provide fresh capital to the company, as these proceeds will accrue to the selling shareholders.
Investors should therefore evaluate the company’s financial performance, valuation, business model, expansion plans and risk factors rather than relying solely on the IPO GMP or expected listing premium.
The Lalithaa Jewellery Mart IPO offers investors exposure to an established South Indian jewellery retailer with a focus on mass and value-conscious consumers. The company reported strong growth in FY2026, with total income rising by around 48% and PAT increasing by around 177% year-on-year.
The proposed use of IPO proceeds towards opening 10 new stores also highlights the company’s plans to expand its retail footprint.
However, investors should consider the capital-intensive nature of jewellery inventory, exposure to precious metal prices, the company’s borrowing levels and the risks associated with rapid retail expansion. The IPO’s GMP indicates positive unofficial market sentiment, but GMP can be volatile and does not guarantee listing gains.
Overall, investors should evaluate the Lalithaa Jewellery Mart IPO based on the company’s fundamentals, valuation, growth strategy and risk factors, rather than relying only on the current GMP.
Disclaimer: The stocks and market-related information mentioned in this article are provided solely for informational and educational purposes. They should not be construed as investment advice or a recommendation to buy or sell any security. Investors are advised to conduct their own research and consult a qualified financial advisor before making investment decisions. Investments in the securities market are subject to market risks. Please read all offer documents carefully before investing
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