Lalithaa Jewellery IPO to Open on August 17; Price Band Fixed at ₹190–₹201
M. Kiran Kumar Jain Announces ₹1,700-Crore Lalithaa Jewellery IPO
Lalithaa Jewellery Unveils IPO Details in Ahmedabad
Bilkul Bazaar
Ahmedabad
Lalithaa Jewellery Mart Limited, one of South India’s prominent organised jewellery retailers, will open its ₹1,700-crore initial public offering (IPO) for subscription on August 17, with the issue closing on August 19, 2026. The company has fixed the price band at ₹190 to ₹201 per equity share of face value ₹5.
The IPO comprises a fresh issue of up to ₹1,200 crore and an offer for sale (OFS) of up to ₹500 crore by promoter M. Kiran Kumar Jain. The minimum bid lot is 74 equity shares, with bids thereafter in multiples of 74 shares.
The IPO details were announced in Ahmedabad by M. Kiran Kumar Jain, Chairman and Managing Director; D. Padmanaban, General Manager – Purchases; Hemaa Kiran Kumar Jain, Whole-Time Director; and P. Rajeswaran, Whole-Time Director. They were joined by V. Prashant Rao of Anand Rathi Advisors and Vipul Garg of Equirus Capital, the book-running lead managers to the issue.
Expanding a South Indian Jewellery Brand
Operating under the Lalithaa brand, the company offers gold, silver and diamond jewellery, with a focus on designs and products suited to regional preferences in southern India.
As of March 31, 2026, Lalithaa Jewellery operated 61 stores across 51 cities in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and the Union Territory of Puducherry. Its stores together cover approximately 6.51 lakh sq. ft. of operational area.
The company has a particularly strong presence in Tier-II and Tier-III markets. Forty-five of its 61 stores were located in these cities in FY26 and contributed 60.25% of revenue, according to the CRISIL report cited by the company.
M. Kiran Kumar Jain, CMD, Lalithaa Jewellery Mart Limited, said:
“Our journey has been built around making quality jewellery accessible at competitive prices while earning the trust of customers across markets. The IPO is an important milestone for Lalithaa Jewellery as we look to strengthen our presence, expand our network and take the brand to more customers.”
Strong Revenue and Profit Growth
The company has reported a sharp improvement in its financial performance. Revenue from operations stood at ₹25,023.93 crore in FY26, compared with ₹16,788.05 crore in FY24. Net profit rose to ₹1,009.82 crore in FY26, from ₹359.83 crore in FY24.
Lalithaa Jewellery says its competitive pricing is supported by its in-house manufacturing capabilities. It operates two manufacturing facilities in Tamil Nadu — at Thirumudivakkam, Chennai, and Maraimalai, Kanchipuram, through its wholly owned subsidiary Asita Jewellery Manufacturing Private Limited.
The Thirumudivakkam facility commenced operations on December 2, 2024.
Large Stores Drive Customer Experience
The company follows a standardised approach to store location, store size and customer experience. In FY26, 51 of its 61 stores had an area of more than 5,000 sq. ft., including 39 stores in Tier-II and Tier-III cities.
The company operates both large-format stores of more than 15,000 sq. ft. and medium-format stores of more than 5,000 sq. ft. and up to 15,000 sq. ft., enabling it to display a broad range of jewellery.
It also runs customer schemes including Dhana Vandhanam and Free-yo-Flexi, aimed at encouraging repeat purchases and providing customers with greater flexibility.
D. Padmanaban, GM – Purchases, Lalithaa Jewellery Mart Limited, said:
“Our focus has always been on offering customers a wide choice of jewellery with the right combination of quality, design and competitive pricing. Our manufacturing capabilities and understanding of regional customer preferences help us maintain this proposition as we expand our retail network.”
₹1,700-Crore IPO
The company said it had the highest operating revenue per store among key organised jewellery players in India, at ₹410.23 crore in FY26, compared with ₹281.62 crore in FY25 and ₹316.76 crore in FY24, according to the CRISIL report cited in the offer documents.
Under the book-building process, not more than 50% of the net offer will be available for allocation to qualified institutional buyers, not less than 15% to non-institutional bidders and not less than 35% to retail individual bidders.
Anand Rathi Advisors Limited and Equirus Capital Limited are the book-running lead managers, while MUFG Intime India Private Limited is the registrar to the issue.
Lalithaa Jewellery Mart has filed its Red Herring Prospectus dated August 9, 2026, with the Registrar of Companies, Tamil Nadu and Andaman at Chennai. Investors have been advised to read the RHP, particularly the risk factors, before making any investment decision.
Lalithaa Jewellery Mart IPO — Quick Snapshot
| Particulars | Details |
|---|---|
| IPO Opening | 17 August 2026 |
| IPO Closing | 19 August 2026 |
| Price Band | ₹190–₹201 per share |
| Face Value | ₹5 per share |
| Issue Size | Fresh Issue up to ₹1,200 crore + OFS up to ₹500 crore |
| Lot Size | 74 shares |
| Minimum Investment | ₹14,060 at the upper price band |
| Business | Jewellery retail — gold, silver & diamonds |
| Store Network | 61 stores across 51 cities in 5 southern markets |
| FY26 Revenue | ₹25,023.93 crore |
| FY26 Net Profit | ₹1,009.82 crore |
| Lead Managers | Anand Rathi Advisors & Equirus Capital |
Disclaimer: This article is for information purpose only and is not investment advice. Please read the IPO documents carefully before investing.
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