M Kiran Kumar Jain, Chairman & MD, Lalithaa Jewellery Mart Ltd at the launch of the Company’s IPO in Mumbai
Chennai-based Lalithaa Jewellery Mart Ltd has fixed the price band for its initial public offering at ₹190 to ₹201 per equity share of face value ₹5 each, with the issue set to open for subscription on August 17, and close on August 19.The IPO comprises a fresh issue of shares aggregating up to ₹1,200 crore and an offer for sale (OFS) of up to ₹500 crore by promoter M. Kiran Kumar Jain, taking the total issue size to ₹1,700 crore. Investors can bid for a minimum lot of 74 equity shares and in multiples thereof. The company’s total outstanding equity shares stand at 499,977,156 shares. Anchor investor bidding is scheduled for August 14, 2026, with trading expected to commence on or about August 24, 2026.Chairman and Managing Director M Kiran Kumar Jain, presenting at the roadshow, said the company had built its brand on trust and regional relevance. “...45 of our 61 stores are in tier-II and tier-III cities, contributing to 60.25 per cent of revenues...” he noted, underlining the company’s strategic bet on high-growth, underpenetrated markets in South India.Retail footprintThe company operates 61 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Puducherry, spanning a total operational area of 650,881 sq ft across 51 cities as of March 31, 2026. Of these, 51 stores individually exceed 5,000 sq ft in area. Its flagship locations include a 1,00,000 sq ft store in Vijayawada, a 98,210 sq ft outlet in Somajiguda, Hyderabad, and a 65,000 sq ft store in Visakhapatnam.Operationally, Lalithaa reported the highest operating revenue per store among key organised jewellery players in India. “...₹410.23 crore per store in fiscal 2026...” the management noted, compared to ₹281.62 crore in FY25 and ₹316.76 crore in FY24, according to the Crisil rport cited in the prospectus.Revenue from operations surged to ₹25,023.93 crore in FY26 from ₹16,788.05 crore in FY24, a compound annual growth rate of 22.09 per cent. Net profit jumped to ₹1,009.82 crore in FY26, nearly three times the ₹359.83 crore recorded in FY24. EBITDA margins expanded from 4.05 per cent in FY24 to 6.69 per cent in FY26, while return on capital employed stood at 42.60 per cent in FY26, the highest among listed peers benchmarked in the Crisil report.Gold jewellery accounted for 92.33 per cent of FY26 revenues, with Tamil Nadu contributing the largest geographical revenue share at 53.98 per cent. The company also runs jewellery saving schemes, Dhana Vandhanam and Free-yo-Flexi, with 473,412 customers enrolled as of March 31, 2026, and customer advances of ₹50,427.50 crore outstanding under these schemes. “...these advances provide visibility of sales in subsequent periods...” the management stated.On the manufacturing front, the company operates two facilities in Thirumudivakkam, Chennai and Maraimalai, Kanchipuram, with a combined area of approximately 63,681.96 sq ft Karigars manufactured 79.11 per cent of total products available for sale in FY26.Anand Rathi Advisors Ltd and Equirus Capital Ltd are the book-running lead managers. MUFG Intime India Private Ltd is the registrar. The issue will be listed on both BSE and NSE. Up to 50 per cent of the net offer is reserved for qualified institutional buyers, at least 15 per cent for non-institutional bidders and at least 35 per cent for retail individual bidders.Published on August 11, 2026
