LALITHAA JEWELLERY MART LTD IPO: Company Review, Subscription and Allotment Updates
2026-08-15 — Company overview and issue details LALITHAA JEWELLERY MART LTD IPO (ABOUT THE COMPANY) LALITHAA JEWELLERY MART LTD – COMPANY BACKGROUND Lalithaa Jewellery Mart Ltd was incorporated in 1985 and is a predominantly south-based…
2026-08-15 — Company overview and issue details
LALITHAA JEWELLERY MART LTD IPO (ABOUT THE COMPANY)
LALITHAA JEWELLERY MART LTD – COMPANY BACKGROUND
Lalithaa Jewellery Mart Ltd was incorporated in 1985 and is a predominantly south-based jewellery retail company. It offers a range of gold, silver, diamond and other precious stones jewellery. Their focus is largely on new designs and craftsmanship. It operates large-format and medium-format stores, but maintains an asset light model, which is evident from the asset turnover ratio at over 2X. The focus is largely on the mass market, catering to the price conscious Indian jewellery buyer. Its brand pull is especially strong in tier-2 and tier-3 cities.
The promoters of Lalithaa Jewellery Mart Ltd are Kiran Kumar Jain and Hemaa Kiran Kumar Jain. The IPO will be a combination of a fresh issue of shares and an offer for sale (OFS) component. The fresh issue funds will be used for funding the opening of 10 new stores and for the equipment, fixtures and furnishings of these stores. The OFS is being done entirely by the promoter shareholders. The issue is being lead-managed by Anand Rathi Advisors and Equirus Capital; while MUFG Intime India Private Ltd is the registrar to the IPO.
HIGHLIGHTS OF THE IPO ISSUE OF LALITHAA JEWELLERY MART LTD
Here are the key highlights of the public issue of Lalithaa Jewellery Mart Ltd.
The IPO is open from August 17th, 2026 to August 19th, 2026. It has a face value of ₹5 per share and the IPO price band has been fixed in the range of ₹190 to ₹201 per share.
The IPO of Lalithaa Jewellery Mart Ltd will be a combination of a fresh issue of shares and an offer for sale of shares by the investor shareholders.
The Fresh Issue portion of the IPO comprises the issue of 5,97,32,655 shares (597.33 lakh shares), which at the upper price band of ₹201 per share, translates into a fresh issue size of ₹1,200.63 crore.
The offer for sale (OFS) portion of the IPO comprises the sale of 2,48,75,621 shares (248.76 lakh shares), which at the upper price band of ₹201 per share, translates into an OFS size of ₹500.00 crore.
Therefore, the overall IPO will comprise of the fresh issue portion and offer for sale (OFS) portion comprising of 8,46,08,276 shares (846.08 lakh shares), which at the upper price band of ₹201 per share translates into overall issue size of ₹1,700.63 crore.
Due to dilutive impact of the fresh issue and the offer for sale (OFS) by promoters, the promoter stake in the company will reduce from 97.72% pre-IPO to 82.85% post-IPO.
The IPO of Lalithaa Jewellery Mart Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on August 11, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Lalithaa Jewellery Mart Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Monday, 17 August, 2026 |
| IPO Close Date | Wednesday, 19 August, 2026 |
| Basis of Allotment | Thursday, 20 August, 2026 |
| Initiation of Refunds to non-allottees | Friday, 21 August, 2026 |
| Credit of Shares to Demat | Friday, 21 August, 2026 |
| Listing Date on NSE and BSE | Monday, 24 August, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | 3,50,877 shares | 0.40% of total IPO size |
| Anchor Allocation | 2,52,83,581 shares | 28.72% of total IPO size |
| QIB Shares Offered | 1,78,31,578 shares | 20.25% of total IPO size |
| NII (HNI) Shares Offered | 1,33,73,685 shares | 15.19% of total IPO size |
| Retail Shares Offered | 3,12,05,263 shares | 35.44% of total IPO size |
| Total Shares Offered | 8,80,44,984 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of Lalithaa Jewellery Mart Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 74 | ₹ 14,874 |
| Retail (Max) | 13 | 962 | ₹ 1,93,362 |
| S-HNI (Min) | 14 | 1,036 | ₹ 2,08,236 |
| S-HNI (Max) | 67 | 4,958 | ₹ 9,96,558 |
| B-HNI (Min) | 68 | 5,032 | ₹ 10,11,432 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 74 shares)
FINANCIAL HIGHLIGHTS OF LALITHAA JEWELLERY MART LTD
The table captures the key financials of Lalithaa Jewellery Mart Ltd for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 25,023.93 | 16,897.32 | 16,788.05 |
| Sales Growth (%) | 48.09% | 0.65% | |
| Profit after Tax (₹ in crore) | 1,009.82 | 364.73 | 359.83 |
| PAT Margins (%) | 4.04% | 2.16% | 2.14% |
| Total Equity (₹ in crore) | 2,929.73 | 1,925.38 | 1,564.37 |
| Total Assets (₹ in crore) | 10,945.14 | 6,929.68 | 5,182.26 |
| Return on Equity (%) | 34.47% | 18.94% | 23.00% |
| Return on Assets (%) | 9.23% | 5.26% | 6.94% |
| Asset Turnover Ratio (X) | 2.29 | 2.44 | 3.24 |
| Earnings per share (₹) | 20.20 | 7.29 | 7.20 |
| EBITDA (₹ in Crore) | 1,673.50 | 740.36 | 680.17 |
| EBITDA Margins (%) | 6.69% | 4.38% | 4.05% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The jewellery retail business is, by default, a low PAT margin business which is evident from the net margins of around 4%. In a best-case scenario, this sector sees net margins of around 5%. Due to the high cost of retailing, operating margins also tend to be under pressure, which is evident from the tepid EBITDA margins too. ROE is impressive.
VALUATION METRICS OF LALITHAA JEWELLERY MART LTD IPO
At the IPO price of ₹201 (upper band), the stock gets discounted at a P/E ratio of 9.95X, based on the latest FY26 EPS of ₹20.20. if you compare with the peer group, there is a clear divergence with national players like Titan, Kalyan, and Thangamayil getting much higher valuations than regional players. If you compare with regional players, the valuation of Lalithaa Jewellery Mart Ltd appears to be par for the course.
The company brings some added advantages to the table. Its presence in the fast-growing South market is likely to ensure that it is able to maintain its operating margins. However, it remains to be seen as to what the impact will be after 10 more stores are opened. While the presence in tier-2 and tier-3 cities is an advantage, the margins are limited in these centres. Investors must be aware that the valuations are par with the peer group within the jewellery industry, and hence immediate upsides may not be available on the stock!
2026-08-15 — Anchor allocation
LALITHAA JEWELLERY MART LTD IPO (ANCHOR ALLOCATION 28.72%)
BRIEF ON ANCHOR ALLOCATION OF LALITHAA JEWELLERY MART LTD
The anchor issue of Lalithaa Jewellery Mart Ltd saw a robust response on 14th August 2026 with 28.72% of the IPO size absorbed by anchors. Out of 8,80,44,984 shares (880.45 lakh shares) on offer in the IPO; anchors picked up 2,52,83,581 shares (252.84 lakh shares) accounting for 28.72% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹201 per share. This includes the face value of ₹5 per share plus a share premium of ₹196 per share. The anchor bidding opened and closed on 14th August 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of Lalithaa Jewellery Mart Ltd
| Bid Date | August 14, 2026 |
|---|---|
| Shares Offered | 2,52,83,581 shares |
| Anchor Portion Size (₹ in crore) | ₹508.20 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Sep 18, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Nov 17, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN LALITHAA JEWELLERY MART LTD
On 14th August 2026, Lalithaa Jewellery Mart Ltd allotted 2,52,83,581 shares to a total of 22 anchor investors. The allocation was done at the upper IPO price band of ₹201 per share which resulted in overall anchor allocation of ₹508.20 crore. The anchors have already absorbed 28.73% of the total issue size of ₹1,769.04 crore, after factoring in the employee discount offered in the IPO.
Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹429.11 crores, or, 84.44% of the overall anchor allocation of shares, one trading day ahead of the IPO of Lalithaa Jewellery Mart Ltd. The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | ICICI Pru Small Cap Fund | 49,75,168 | 19.68% | ₹ 100.00 |
| 02 | Goldman Sachs Europe - ODI | 49,75,168 | 19.68% | ₹ 100.00 |
| 03 | Bandhan Small Cap Fund | 45,22,880 | 17.89% | ₹ 90.91 |
| 04 | Sanshi Fund - I | 12,43,718 | 4.92% | ₹ 25.00 |
| 05 | Kotak Mahindra Life Insurance | 11,19,398 | 4.43% | ₹ 22.50 |
| 06 | Morgan Stanley India Investment | 10,78,772 | 4.27% | ₹ 21.68 |
| 07 | Bajaj Life Insurance Ltd | 10,29,784 | 4.07% | ₹ 20.70 |
| 08 | Lords Multi-Growth Fund | 9,95,078 | 3.94% | ₹ 20.00 |
| 09 | Greater India Portfolio | 7,35,782 | 2.91% | ₹ 14.79 |
| 10 | Morgan Stanley India Equity Fund | 6,73,030 | 2.66% | ₹ 13.53 |
| Grand Total | 2,13,48,778 | 84.44% | ₹ 429.11 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.
Out of the 2,52,83,581 shares allocated to the anchors in the IPO, there was an allocation of 1,14,42,768 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual funds was spread across 9 MF scheme of 4 asset management company (AMC). Mutual funds accounted for 45.26% of the overall anchor allocation.
Out of the 2,52,83,581 shares allocated to the anchors in the IPO, there was an allocation of 21,49,182 shares made to 2 life insurance companies regulated by IRDAI, representing 8.50% of the total anchor allocation. The remaining anchor allocation was spread across FPIs, ODIs, AIFs, and alternate investment funds (AIFs).
NEXT STEPS IN LALITHAA JEWELLERY MART LTD IPO
Post the closure of the IPO subscription on 19th August 2026, the basis of allotment will be finalized on 20th August 2026 and the refunds will be initiated on 21st August 2026. In addition, the demat credits are expected to also happen on 21st August 2026 and the stock will list on 24th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 21st August 2026 under ISIN (INE0K9O01026).
2026-08-19 — Day-3 subscription update
Lalithaa Jewellery Mart Ltd (Day-3 Final Subscription at 62.97 times)
LALITHAA JEWELLERY MART LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.10 pm on 19th August 2026, out of the 627.61 lakh shares on offer in the IPO (excluding anchor portion), Lalithaa Jewellery Mart Ltd saw bids for 39,522.18 lakh shares. This implies an overall subscription of 62.97X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Lalithaa Jewellery Mart Ltd was as under:
| Employees (8.55x) | QIBs (145.38X) | HNI / NII (73.90X) | Retail (11.81X) |
|---|
The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO. The company saw steady anchor participation a day ahead of the IPO opening with 28.72% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 2,52,83,581 | 2,52,83,581 | 508.20 |
| Employee Quota | 8.55 | 3,50,877 | 30,00,922 | 60.32 |
| QIB Investors | 145.38 | 1,78,31,578 | 2,59,24,36,894 | 52,107.98 |
| HNIs / NIIs | 73.90 | 1,33,73,685 | 98,82,70,222 | 19,864.23 |
| Retail Investors | 11.81 | 3,12,05,263 | 36,85,09,566 | 7,407.04 |
| Total | 62.97 | 6,27,61,403 | 3,95,22,17,604 | 79,439.57 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of Lalithaa Jewellery Mart Ltd was open up to August 19, 2026, and has closed for subscription as of the close of trading hours on August 19, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹79,947.77 crore.
NEXT STEPS IN THE LALITHAA JEWELLERY MART LTD IPO
Post the closure of the IPO subscription on 19th August 2026, the basis of allotment will be finalized on 20th August 2026 and the refunds will be initiated on 21st August 2026. In addition, the demat credits are expected to also happen on 21st August 2026 and the stock will list on 24th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 21st August 2026 under ISIN (INE0K9O01026).
2026-08-19 — Allotment guidance and next steps
Lalithaa Jewellery Mart Ltd (How to check allotment status online)
ABOUT THE LALITHAA JEWELLERY MART LTD IPO
The IPO of Lalithaa Jewellery Mart Ltd opened on August 17th, 2026 and closed on August 19th, 2026. The IPO comprised entirely of a fresh issue portion and an offer for sale (OFS) of 8,80,44,984 shares (880.45 lakh shares) worth ₹1,769.70 crore at the upper band price of ₹201 per share. The allotment status will be finalized by EOD of August 20th, 2026. Here is how to check allotment status for the IPO of Lalithaa Jewellery Mart Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).
CHECKING ALLOTMENT STATUS OF LALITHAA JEWELLERY MART LTD ON BSE WEBSITE
This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Lalithaa Jewellery Mart Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Alternatively, Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Lalithaa Jewellery Mart Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF LALITHAA JEWELLERY MART LTD ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select LALITHAA from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Lalithaa Jewellery Mart Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF LALITHAA JEWELLERY MART LTD ON KFIN TECHNOLOGIES LTD (REGISTRAR TO THE IPO)
Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:
https://kosmic.kfintech.com/ipostatus/
KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select Lalithaa Jewellery Mart Ltd.
THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD
To Query by Application Number, check the appropriate box and follow these steps.
Enter the Application Number as it is
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.
To Query by Demat Account, check the appropriate box and follow these steps.
First select the depository (NSDL / CDSL)
Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
Enter the Client-ID in the second box
For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
To Query by PAN, check the appropriate box and follow these steps.
Enter the 10-Character PAN number, available on your PAN card
After you enter the PAN number, Enter the 6-digit numeric Captcha Code
Click on Submit button
Allotment status gets displayed on screen
If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.
NEXT STEPS IN THE LALITHAA JEWELLERY MART LTD IPO
Post the closure of the IPO subscription on 19th August 2026, the basis of allotment will be finalized on 20th August 2026 and the refunds will be initiated on 21st August 2026. In addition, the demat credits are expected to also happen on 21st August 2026 and the stock will list on 24th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 21st August 2026 under ISIN (INE0K9O01026).
Interested in applying for this IPO?
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