Lalithaa Jewellery Mart Limited’s Initial Public Offer to Open on 17 August 2026

POSTED BY  : ANAGHA SAKPAL DATED ON 10/08/2026 (9004379946)

• Price band of ₹190 to ₹201 per Equity Share bearing face value of ₹5 each (“Equity Shares”)

• Bid/Offer Opening Date – 17 August 2026 and Bid/Offer Closing Date, 19 August 2026.

• Minimum Bid Lot is 74 Equity Shares and in multiples of 74 Equity Shares thereafter

Mumbai (RMN.COM) : Lalithaa Jewellery Mart Limited (the “Company”) has fixed the price band of ₹190/- to ₹201/- per Equity Share of face value ₹5/- each for its initial public offer. The Initial Public Offer (“IPO” or “Offer“) of the Company will open on 17 August 2026, for subscription and close on 19 August 2026. Investors can bid for a minimum of 74 Equity Shares and in multiples of 74 Equity Shares thereafter. Equity shares outstanding as on date is 499,977,156 Equity Shares of ₹5 each. The IPO is a fresh issue of up to ₹1200.00 crore and an offer-for-sale up to ₹500.00 crore by promoter of the Company, M. Kiran Kumar Jain.

The Company is a jewellery retailer operating under the brand name Lalithaa, offering a diverse range of gold jewellery, silver jewellery, and diamond jewellery across styles, designed to cater to regional preferences of southern Indian jewellery markets. The Company strive to serve the southern Indian market with authenticated BIS-hallmarked jewellery through its 61 stores in 51 cities across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and the Union Territory of Puducherry, spread across a total operational area of 650,881 sq. ft., as of March 31, 2026. The Company stands out as a disruptive brand, offering gold jewellery at competitive prices due to its in-house manufacturing capabilities.

In Fiscal 2026, 45 of its 61 stores are in Tier-II and Tier-III cities, contributing to 60.25% of its revenues and reflecting the Company’s strategic focus on these high-growth potential markets (Source: CRISIL Report). The Company believes that its emphasis on quality, craftsmanship and design at competitive prices has allowed it to gain this brand position.

Out of a total of 61 stores, in Fiscal 2026, the Company operated 51 stores with an aggregate area of each store more than 5,000 sq. ft. These stores are strategically located across cities and towns in key jewellery consumption markets in the southern India, of which 39 stores are located in Tier-II and Tier-III cities. Its strategy of opening large format stores (more than 15,000 sq.ft) and medium format stores (less than or equal to15,000 sq.ft and more than 5,000 sq.ft) allows it to showcase a wide selection of gold, silver and diamond jewellery, which it believes to be instrumental in driving the Company’s growth.

The Company had the highest operating revenue per store amongst key organised jewellery players in India, at ₹410.23 crore, ₹281.62 crore and ₹316.76 crore for Fiscal 2026, Fiscal 2025 and Fiscal 2024 respectively (Source: CRISIL Report).

The Company has been able to create a templatised approach for store location, size and overall customer experience, which enables it to scale for growth in existing as well as potentially newer markets.

The Company also offers jewellery schemes such as ‘Dhana Vandhanam‘ and ‘Free-yo-Flexi‘ that attract customers on a repeated basis. These schemes are designed to provide added value and flexibility to its clientele, encouraging them to engage with its brand repeatedly.

The Company operates two manufacturing facilities in Thirumudivakkam, Chennai (operated through the Company) and Maraimalai, Kanchipuram (operated through its wholly-owned subsidiary, Asita Jewellery Manufacturing Private Limited) in Tamil Nadu, having an area of approximately 43,861.96 sq. ft. and 20,000 sq. ft. respectively (Manufacturing Facilities).

The Company has commenced operations of its manufacturing facility at Thirumudivakkam, Chennai from December 2, 2024. The Company’s revenue from operations was ₹25,023.93 crore during FY26 as against ₹16,788.05 crore during FY24. Its net profit was ₹1,009.82 crore during FY26 as against ₹359.83 crore during FY24.

Anand Rathi Advisors Limited and Equirus Capital Limited (Formerly Equirus Capital Private Limited) are the book-running lead managers, and MUFG Intime India Private Limited(Formerly Link Intime India Private Limited)  is the registrar of the Offer.

The Offer is being made through the book-building process, wherein not more than 50% of the Net Offer shall be available for allocation to qualified institutional buyers, not less than 15% of the Offer shall be available for allocation to non-institutional bidders, and not less than 35% of the Offer shall be available for allocation to retail individual bidders.

Lalithaa Jewellery Mart Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated  August 09, 2026, with the Registrar of Companies, Tamil Nadu and Andaman at Chennai. The RHP is made available on the website of SEBI at www.sebi.gov.in, as well as on the websites of the BRLMs, i.e., www.anandrathiib.com and www.equirus.com, the website of the NSE at www.nseindia.com, the website of the BSE at www.bseindia.com, and the website of the Company at www.lalithaajewellery.com. Any potential investor should note that investment in equity shares involves a high degree of risk, and for details relating to such risks, please see the section “Risk Factors” beginning on page 22 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP filed by the Company with the Registrar of Companies, Tamil Nadu and Andaman at Chennai.

The Equity Shares offered in the Offer have not been, and will not be, registered under the U.S. Securities Act and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. The Equity Shares offered in the Offer are being offered and sold only outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the U.S. Securities Act (“Regulation S”).

Disclaimer Clause of Securities and Exchange Board of India (“SEBI”): SEBI only gives its observations on the Offer Documents, and this does not constitute approval of either the Offer or the specified securities stated in the Offer Documents. The investors are advised to refer to RHP page 433 for the full text of the disclaimer clause of SEBI.