Lalithaa Jewellery Mart Limited has raised ₹1,700 crore from an initial public offering of equity shares, comprising of a fresh issue and an offer for sale.
JSA Advocates and Solicitors advised Lalithaa Jewellery Mart and M. Kiran Kumar Jain, the Promoter Selling Shareholder, on this IPO.
The transaction team was led by Arka Mookerjee (Partner), with support from Pracheta Bhattacharya (Partner), Anshu Bansal (Partner), Kairav Parikh (Partner), Vatsla Varandani (Senior Associate), Associates Shreya Sharma, Ritu Jaiswal, Johann Duckworth and Bernedict Rozario.
The Chennai-based jewellery retailer plans to use ₹1,014.5 crore from the proceeds to expand its store network across India, with the remainder earmarked for general corporate purposes. The company, known for its large-format showrooms in South India, currently operates 56 stores across five states and Union Territories, and reported a revenue of ₹16,788 crore in FY24.
The IPO comes amid rising demand in India’s jewellery market, which is projected to nearly double by FY2029. Lalithaa Jewellery reported a 43.6% CAGR in store-level revenue between FY22 and FY24, one of the highest in the organised jewellery segment. The brand also runs two manufacturing facilities in Tamil Nadu and offers BIS-hallmarked products backed by loyalty schemes like 'Dhana Vandhanam'.
Lalithaa Jewellery is a prominent jewellery retailer based in Chennai, renowned for its extensive collection of gold, diamond, platinum, and silver jewellery. The brand is known for its commitment to quality and craftsmanship, offering a diverse range of products that cater to various tastes and occasions. One of their standout features of is their low wastage policy, which appeals to customers looking for value without compromising on quality.
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