Lalithaa Jewellery Mart Prepares Rs 1,700 Crore IPO as Retail Giant Aims for Aggressive Southern Expansion

Lalithaa Jewellery Mart Prepares Rs 1,700 Crore IPO as Retail Giant Aims for Aggressive Southern Expansion​

Chennai-based jewellery retailer Lalithaa Jewellery Mart is set to enter the public market with its maiden Initial Public Offering (IPO). The company has announced the opening of the Rs 1,700 crore issue for subscription on August 17. This listing marks a significant step in the growth strategy of the established retail brand.

The IPO structure involves a fresh issue of shares amounting to Rs 1,200 crore. Concurrently, promoter and founder Kiran Kumar Jain will sell shares worth Rs 500 crore through an Offer-for-Sale (OFS). The price band details for the offering are expected to be disclosed on August 11.

IPO Timeline and Allocation Structure​

The fundraising process is structured across several stages. A dedicated one-day anchor book, aimed at both domestic and global institutional investors, will open on August 14. The general public subscription for the IPO is scheduled from August 17 until August 19.

The allotment of Lalithaa Jewellery Mart shares is anticipated by August 20. The listing on major exchanges like the BSE and National Stock Exchange is expected to occur on August 24. Employees are offered a reservation for shares worth up to Rs 6 crore, which may be provided at a 10 percent discount to the final offer price.

Retail Market Footprint and Business Model​

Lalithaa Jewellery Mart caters to regional preferences across the southern Indian jewellery market, offering gold, silver, and diamond jewellery under its brand. The company currently operates 61 stores spanning Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and Puducherry.

A key aspect of their business model is the strong presence in smaller cities. Forty-five of the total stores are located in Tier II and Tier III cities, a segment that contributed 60.25 percent of the company’s revenue in FY26. This focus on non-metro markets highlights their deep regional penetration.

Financial Performance Highlights Across Fiscal Years​

The company demonstrated robust growth in its most recent fiscal period. For the year ending March 2026, Lalithaa Jewellery Mart recorded a profit of Rs 1,009.8 crore. This represents a substantial 177 percent increase from the previous year’s performance.

Revenue surged by 48.1 percent year-on-year, reaching Rs 25,023.9 crore during the same period. However, the preceding fiscal years showed slower growth. In FY25, profit saw only a 1.4 percent increase to Rs 364.7 crore from Rs 359.8 crore in FY24. Revenue rose 0.65 percent to Rs 16,897.3 crore from Rs 16,788 crore during that time.

Strategic Expansion and Future Investment Plans​

Lalithaa Jewellery Mart plans aggressive expansion leveraging the IPO proceeds. The company aims to invest up to Rs 1,033.2 crore of the net proceeds from the fresh issue into setting up ten new stores across southern India.

These investments will cover critical capital expenditure items including furniture and fixtures, necessary equipment, IT hardware and software, as well as initial inventory costs for the new outlets. The remaining funds generated through the fresh issue are earmarked for general corporate purposes. Anand Rathi Advisors and Equirus Capital have been appointed as the merchant bankers managing this IPO process.