Lalithaa Jewellery IPO
Lalithaa Jewellery Mart Limitedlalithaajewellery.com
- Price band
- ₹190 – ₹201
- Issue size
- ₹1,700 Cr
- Lot size
- 74 sh
- Bidding
- 17 – 19 Aug
- Grey market
- —
Face value ₹5.00
71% fresh capital
Lists 24 Aug 2026
No quote recorded
Market data to 30 Oct 2026. Company figures are as filed, sourced 15 Oct 2026. Every figure’s origin is listed under Sources.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
Broadly well-balanced
63% of the scoring model was backed by disclosed data for Lalithaa Jewellery, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
The company
What the business actually does
Founded 1985 · Chennai, Tamil Nadu, India · 7,059 employees
Lalithaa Jewellery Mart runs a chain of 61 jewellery stores across 51 cities in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Puducherry, trading under the Lalithaa name since its first store opened in the T. Nagar area of Chennai in 1985. Gold jewellery was 92.33% of FY26 revenue from operations, with silver jewellery and articles at 6.63% and a studded-gold and diamond range at 1.04%. The stores target mass-market and value-conscious buyers and are weighted to smaller cities: 45 of the 61 are in Tier II or Tier III locations. Most of what it sells it makes — Karigars on the rolls of the company and an associate produced 79.11% of products available for sale in FY26. It had 7,059 full-time employees at 31 March 2026.
Revenue is retail jewellery sales at thin margins. FY26 revenue from operations of ₹25,023.93 crore produced operating EBITDA of ₹1,673.50 crore (6.69% margin) and PAT of ₹1,009.82 crore (4.04%). Cost is overwhelmingly metal: materials consumed plus purchases of stock-in-trade were ₹26,024.02 crore before inventory build. The structural constraint is gold itself. FY26's 48.09% revenue rise came almost entirely from price — gold sold moved only from 21,531.77 kg to 21,691.43 kg while the average rate went from ₹7.33 million to ₹10.63 million per kilogram. The RHP states the company does not hedge or use gold metal loans, so inventory of ₹9,816.28 crore, turning 2.55 times a year, carries unhedged price risk.
The company on paper
- Legal name
- Lalithaa Jewellery Mart Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 26 Nov 1985
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U36911TN1985PLC012417
- Sector
- Consumer Discretionary · Gold and silver jewellery retail chain in South India
- Employees
- 7,059
- Registered office
- Chennai, Tamil Nadu, India
- Promoters
- M. Kiran Kumar Jain, Hemaa Kiran Kumar Jain
- Promoter holding, pre-issue
- 97.7%
- Promoter holding, post-issue
- 82.8%
- Website
- lalithaajewellery.com
The numbers
Financial performance
Revenue has compounded at 22.1% a year across the 3 reported financial years.
Revenue and profit
Figures in ₹ crore, as reported in the prospectus. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
What the issue asks for the business, set against what the business earns.
No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.
The terms
How the issue is structured
71% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹1,200 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹500 Cr
- Total issue size
- ₹1,700 Cr
- Shares offered in the OFS
- —
- Pre-issue shares outstanding
- —
- Employee discount
- —
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 14.9% of the company.
- Promoters
- Everyone else
Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.
Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples at the end of day 3. Anchor allocations are excluded.
Hover or focus a category to see who bids in it.
A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.
Grey market premium
Unofficial over-the-counter sentiment
No grey-market quotes have been recorded for this issue.
Outcome
How it actually listed
- Issue price
- ₹201.00
- Listed at
- ₹265.00
- Listing gain
- up 31.8%
- Since listing
- up 36.0%
- Against the issue price
- up 79.3%
Trading at ₹360.40 on 30 Oct 2026
What an allotment is worth now, before costs
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
- Shares applied for
- 74
- At cut-off price
- ₹201.00
- Amount blocked
- ₹14,874
One lot is 74 shares at ₹14,874. Retail applications are capped at ₹2,00,000, which allows up to 13 lots here — apply for more and you are bidding as a non-institutional investor instead.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
~8%
chance of one lot, per application
- Retail subscription
- 11.81×
- Applicants per share available
- 11.8× the retail quota
This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.
What it actually did
This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.
₹265.00
listed at, 31.8% against the issue price
- Issue price
- ₹201.00
- Premium said
- —
- If allotted 74 shares
- ₹4,736
Listing-day figures are as reported by the exchanges.
Straight from the filing
Read it yourself
Every figure on this page comes out of these. Go and check them.
Served by the issuer, the exchange or the regulator — never a copy hosted here, so what you open is the filing itself.
The paperwork
Who is running the issue
- Lead managers
- Anand Rathi Advisors Limited, Equirus Capital Limited
- RegistrarAllotment status is checked on the registrar's own site
- MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
How these figures were checked
Reconciled to Lalithaa Jewellery's own prospectus and to exchange disclosures, then cross-checked against 4 other independently published compilations of the same filing. Where a stated ratio disagreed with the line items it should come from, the disagreement was settled against the prospectus itself.
- Red Herring Prospectus dated August 9, 2026 (company website PDF) · read 15 Oct 2026
- NSE India — IPO issue information and final consolidated bid details (symbol LALITHAA) · read 15 Oct 2026
- NSE India — full bhavcopy, 24 August 2026 (listing day OHLC) · read 15 Oct 2026
- BSE India — equity bhavcopy, 24 August 2026 (listing day OHLC) · read 15 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
Other issues worth reading next
Shankesh Jewellers
Wholesale hand-crafted gold jewellery manufactured through outsourced karigars for retail jewellery chains
Listed 25 Aug 2026 · Mainboard
- Price band
- ₹88 – ₹93
- Listing gain
- up 11.1%
- Score
- 66/100
Dhoot Transmission
Automotive wiring harnesses and electrical/electronic components, mainly for two- and three-wheelers
Listed 17 Aug 2026 · Mainboard
- Price band
- ₹829 – ₹871
- Listing gain
- up 37.8%
- Score
- 73/100
Priority Jewels
Wholesale manufacturing of light-weight diamond-studded gold and platinum jewellery for jewellery chains and independent jewellers
Listed 4 Sep 2026 · Mainboard
- Price band
- ₹190 – ₹200
- Listing gain
- up 15.0%
- Score
- 64/100