The Chennai-based jewellery brand Lalithaa Jewellery Mart has filed its Draft Red Herring Prospectus with SEBI for a ₹1,700 crore IPO. The IPO consists of a ₹1,200 crore fresh issue with a ₹500 crore offer-for-sale of shares by the promoter KIRANKUMAR JAIN.
A major chunk of fresh capital will be used to open 12 new stores in southern India, boosting the company’s retail footprint. The remaining funds will be used for general corporate purposes. At FY 2024, Lalithaa Jewellery has operated 56 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and Puducherry. It is planning to open different types of stores depending on the requirements.
The jewellery brand recorded a 43.6% CAGR in store-level revenue from FY2022 to FY2024. The company generated revenue of ₹16,788 crore in FY2024. Lalithaa distinguishes itself with its BIS-hallmarked jewellery and low-wastage policy, which have contributed to its growing popularity in southern India and established a significant presence in the gold and diamond retail sector.
