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Fashion Network
10-06-2025
- Business
- Fashion Network
Lalithaa Jewellery to launch IPO
Chennai-based jewellery retailer Lalithaa Jewellery Mart has filed draft papers with the Securities and Exchange Board of India for an Initial Public Offering to raise Rs 1,700 crore as it plans to expand its brick-and-mortar presence in India. According to the Draft Red Herring Prospectus, the proposed IPO will comprise a fresh issue of equity shares worth Rs 1,200 crore and an offer-for-sale component of Rs 500 crore by promoter M Kiran Kumar Jain, India Retailing reported. The issue will also include a reserved portion for eligible employees, who will receive shares at a discounted price. The company plans to utilise approximately Rs 1,014.50 crore from the fresh issue proceeds to establish new stores, with the remainder allocated for general corporate purposes. Anand Rathi Advisors and Equirus Capital are acting as book-running lead managers for the IPO. The shares are proposed to be listed on both the BSE and NSE. For the nine months ended 31 December 2024, the company reported consolidated revenue from operations of Rs 12,594.67 crore and a profit after tax of Rs 262.33 crore. Founded in 1985 with its first outlet in Chennai's T Nagar, Lalithaa Jewellery Mart offers gold jewellery, silverware and diamond jewellery, according to its Facebook page. As of December 31, 2024, the company operates 56 stores- 22 in Andhra Pradesh, 20 in Tamil Nadu, seven in Karnataka, six in Telangana and one in Puducherry.
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Business Standard
09-06-2025
- Business
- Business Standard
Suzlon promoters sell 1.45% stake; Lalithaa Jewellery files for IPO
Tanti Holdings and three other promoter group entities sold 1.45 per cent stake in Suzlon on Monday. They sold 198.2 million shares at ₹66 apiece to raise ₹1,309 crore. Among the buyers were Motilal Oswal Mutual Fund, ICICI Prudential Life, Goldman Sachs, and Societe Generale. Shares of Suzlon closed at ₹67, up 0.6 per cent over previous close. Lalithaa Jewellery files for ₹1,700 cr IPO Jewellery player Lalithaa Jewellery Mart has filed preliminary papers with markets regulator Sebi seeking its approval to raise ₹1,700 crore through an initial public offering (IPO). The Chennai-based company's proposed IPO is a combination of a fresh issue of shares worth ₹1,200 crore and an offer-for-sale of equities valued at ₹500 crore by M Kiran Kumar Jain, according to the draft red herring prospectus. The issue includes a reservation for a subscription by eligible employees, and a discount is being offered to such employees. According to the draft papers filed on Friday, proceeds from the fresh issue to the tune of ₹1,014.50 crore will be used for setting up new stores, and a portion would be utilised for general corporate purposes. Wipro shares worth ₹5,058 crore got traded among the promoter group entities under the block deal window on Monday. Data provided by stock exchanges showed Azim Premji Trust as the seller and Hasham Traders, Prazim Traders, and Prazim Trading & Investment as the buyers. A total of 202.3 million shares were traded at ₹250 apiece.
New Indian Express
09-06-2025
- Business
- New Indian Express
Lalithaa Jewellery files IPO papers with Sebi; seeks to raise Rs 1,700 crore
NEW DELHI: Jewellery chain Lalithaa Jewellery Mart has filed preliminary papers with markets regulator Sebi seeking its approval to raise Rs 1,700 crore through an Initial Public Offering (IPO). The Chennai-based company's proposed IPO is a combination of a fresh issue of shares worth Rs 1,200 crore and an offer-for-sale of equities valued at Rs 500 crore by M Kiran Kumar Jain, according to the Draft Red Herring Prospectus (DRHP). The issue includes a reservation for a subscription by eligible employees, and a discount is being offered to such employees. As per the draft papers filed on Friday, proceeds from the fresh issue to the tune of Rs 1,014.50 crore will be used for setting up new stores, and a portion would be utilised for general corporate purposes.
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Business Standard
09-06-2025
- Business
- Business Standard
Lalithaa Jewellery files draft papers with Sebi, to raise ₹1,700 cr via IPO
Jewellery player Lalithaa Jewellery Mart has filed preliminary papers with markets regulator Sebi seeking its approval to raise ₹ 1,700 crore through an Initial Public Offering (IPO). The Chennai-based company's proposed IPO is a combination of a fresh issue of shares worth ₹1,200 crore and an offer-for-sale of equities valued at ₹500 crore by M Kiran Kumar Jain, according to the Draft Red Herring Prospectus (DRHP). The issue includes a reservation for a subscription by eligible employees, and a discount is being offered to such employees. As per the draft papers filed on Friday, proceeds from the fresh issue to the tune of ₹1,014.50 crore will be used for setting up new stores, and a portion would be utilised for general corporate purposes. Lalithaa Jewellery Mart, which opened its first store in 1985 in T Nagar locality of Chennai, sells gold jewellery, silverware and diamond jewellery. It had 56 stores, out of which 22 are in Andhra Pradesh, 20 in Tamil Nadu, seven in Karnataka, six in Telangana and one in the Union Territory of Puducherry as of December 31, 2024. On the financial front, Lalithaa Jewellery Mart's consolidated revenue from operations and profit after tax stood at ₹12,594.67 crore and ₹262.33 crore, respectively, for the nine months ended December 31, 2024. Anand Rathi Advisors and Equirus Capital are the book-running lead managers of the issue. The equity shares are proposed to be listed on the BSE and NSE. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
