Lalithaa Jewellery Mart Limited Announces IPO
Lalithaa Jewellery Mart Limited has announced its Draft Red Herring Prospectus (DRHP) for an upcoming Initial Public Offering (IPO). This offering is a combination of a Fresh Issue and an Offer for Sale (OFS), presenting a significant opportunity for investors. The IPO size is 1700 crores.
Lalithaa Jewellery Mart Limited is a prominent jewellery retailer based in southern India, offering an extensive range of gold, silver, and diamond jewellery that caters to diverse regional tastes. The company operates 56 retail stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and Puducherry, and is known for its commitment to competitive pricing and selling only BIS-hallmarked authenticated jewellery.
Lalithaa Jewellery has built a strong foothold in Tier II and Tier III cities, where 41 stores contribute approximately 59.05% of its total revenue. The company has demonstrated robust financial growth, achieving a Compound Annual Growth Rate (CAGR) of 43.62% in operating revenue between Fiscal 2022 and Fiscal 2024. Revenue increased from ₹8,139.42 crore in FY 2022 to ₹16,788.05 crore in FY 2024, underscoring its strong market position and efficient business strategy.
The company also offers customer-centric jewellery schemes such as Dhana Vandhanam and Free-yo-Flexi, which have helped attract and retain a loyal customer base. In Fiscal 2024, Lalithaa Jewellery reported ₹1,943.23 crore in advances from customers, the highest among key organised jewellery players in India, indicating strong customer trust and consistent pre-booking trends.
To support its retail operations, Lalithaa Jewellery maintains two manufacturing facilities in Tamil Nadu, reinforcing its focus on quality control, cost efficiency, and timely product availability, especially across its expanding network in southern India.
Key Achievements
- Strong presence in Tier II and Tier III cities
- Operating revenue CAGR of 43.62% between Fiscal 2022 and 2024
- Highest advances from customers among key organized jewellery players in India for Fiscal 2024
Financial Overview ( in Crores)
| Particulars | 31 Mar 2024 |
|---|---|
| Total Assets | 5182.26 |
| Revenue | 16788.05 |
| Profit After Tax | 359.83 |
| Net Worth | 1667.78 |
| Total Borrowings | 824.18 |
Offer for Sale and IPO Structure
The IPO includes a fresh issue of 1200 crores and an Offer for Sale (OFS) of 500 crores by M. Kiran Kumar Jain. The IPO structure includes allocations for:
- Retail Investors: 35%
- Qualified Institutional Buyers (QIB): 50%
- Non-Institutional Investors (NII): 15%
The shares are proposed to be listed on both the BSE and NSE.
Lead Managers and Registrar
- Lead Managers: Anand Rathi Advisors Limited, Equirus Capital Private Limited
- Registrar: MUFG Intime India Private Limited
Conclusion
The Lalithaa Jewellery Mart Limited IPO presents a compelling investment opportunity. Stay tuned for updates on the IPO dates and further details. This IPO aims to leverage its strong market presence and financial performance for future growth.