Lalithaa Jewellery Sets IPO Price Band

Gold jewellery retailer Lalithaa Jewellery has announced a price band of ₹190–201 per equity share for its upcoming initial public offering (IPO). The issue will open on August 17 and close on August 19, with anchor investors getting an opportunity to participate on August 14. The company plans to raise ₹1,700 crore through the IPO, comprising a fresh issue of equity shares worth ₹1,200 crore and an offer for sale of shares worth ₹500 crore by existing shareholders.

The proceeds from the fresh issue will primarily be used to set up new stores, along with meeting general corporate requirements. Founded in 1985 with its first store in T. Nagar, Chennai, Lalithaa Jewellery is engaged in the sale of gold, silver and diamond jewellery. The company is expected to list its shares on the BSE and NSE on August 24, with a potential valuation of around ₹11,250 crore.