Proceeds from the IPO will be used to set up 12 new stores, in line with Lalithaa’s expansion strategy of scaling its large-format and medium-format stores, primarily in Tier II and Tier III cities across South India
Chennai: Leading jewellery retailer Lalithaa Jewellery Mart has filed its preliminary papers with the Securities and Exchange Board of India (SEBI) to raise funds to the tune of Rs 1,700 crore via an initial public offering (IPO).
Lalithaa Jewellery Mart’s IPO will consist of a fresh issue of Rs 1,200 crore and an offer for sale (OFS) of Rs 500 crore by promoterM. Kiran Kumar Jain, placing it among the largest IPOs in India’s jewellery retail sector in recent years.
The face value of each equity share is Rs 5. Final price bands, lot sizes, and post-issue shareholding will be disclosed closer to the IPO launch.
Proceeds from the fresh issue will be used to set up 12 new stores, in line with Lalithaa’s expansion strategy of scaling its large-format and medium-format stores, primarily in Tier II and III cities across South India. Some of the funds will also be used for general corporate purposes.
Lalithaa Jewellery has shown consistent revenue and profit growth in recent years, clocking profit-after-tax figures of Rs 359.83 crore in FY 24 and Rs 262.33 crore in 9 months of FY 25.
The company’s product portfolio is skewed heavily towards gold, with gold jewellery accounting for 93.96% of the revenue share in FY 24.
The brand has also capitalized on recurring customer engagement through two flagship jewellery schemes offering monthly instalments to customers.
To support its expansive retail ambitions and cost control strategy, Lalithaa operates two manufacturing facilities at Chennai and Kanchipuram.This allows for faster inventory turnover, design control, and margin optimization.The company’s value proposition resonates in price-sensitive markets, helped it emerge as a leader in the Tier II and III segment — a customer base traditionally dominated by unorganized retailers.
Lalithaa Jewellery Mart was founded in 1985, and has built a strong retail footprint, operating 56 stores across 46 cities. The company operates predominantly in Tamil Nadu (20 stores), Andhra Pradesh (22 stores), Telangana (6 stores), Karnataka (7 stores) and Puducherry (1 store). Of these, 47 stores are over 5,000 sq. ft. in area and the emphasis is on large format stores (>15,000 sq. ft) and medium format stores (5,000–15,000 sq. ft).
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