Huge Demand for Lalithaa Jewellery IPO

Lalithaa Jewellery’s IPO has received an overwhelming response from investors. On the final day of bidding on Wednesday, the issue received 3,95,22,17,604 bids against the 6,27,61,403 shares offered, resulting in an overall subscription of 62.97 times. Qualified Institutional Buyers (QIBs) showed the strongest interest, with their portion receiving bids worth 145 times the shares reserved.

The non-institutional investor category was subscribed 73.90 times, while the retail investor portion received 11.81 times subscription. The IPO has a price band of Rs 190 to Rs 201 per share. Through the issue, Lalithaa Jewellery plans to raise Rs 1,200 crore, while an additional Rs 500 crore is proposed to be raised through the Offer for Sale (OFS) route.