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Jewellery player Lalithaa Jewellery Mart has filed to raise ₹1,700 crore via IPO to fund expansion.
Lalithaa sells gold, silverware, and diamond jewellery. The company has grown to a 56-store network across Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, and Puducherry as of December 2024.
The deets: the IPO will include a ₹1,200 crore fresh issue and a ₹500 crore offer-for-sale.
Out of these, ₹1,014.5 crore from the fresh issue will go toward opening new stores, with the rest for general corporate needs.
Financially, the company posted ₹12,594.6 crore in revenue and ₹262.3 crore profit in the nine months ended Dec 2024, showing it’s built scale and profitability ahead of listing.
Zoom out: Jewellery retail remains a red-hot segment, with companies eyeing IPOs to fund offline expansion. A trusted south India player, Lalithaa is looking to ride India’s gold love affair and consumer shift toward branded jewellery.
