Lalithaa Jewellery IPO Day 1: Check subscription status, price band, lot size and key dates

Jewellery retailer Lalithaa Jewellery Mart's ₹1,700 crore initial public offering opened for subscription on Monday, August 17. The issue, which will conclude on August 19, has fixed a price band of ₹190 to ₹201 per share.

The initial share sale is a mix of a fresh issuance of shares aggregating to ₹1,200 crore and an offer for sale (OFS) component of ₹500 crore by promoter M. Kiran Kumar Jain.

The fresh issue proceeds will be used for establishing 10 new stories in India and general corporate purposes. "Our company expects to receive the benefits of listing of equity shares on the stock exchanges including enhancing our visibility and our brand image among our existing and potential customers and creating a public market for our equity shares in India," the firm said in its red herring prospectus (RHP).

Lalithaa Jewellery Mart IPO Day 1: Subscription status

The subscription details for the first day of the issue will be available post 10 am.

Lalithaa Jewellery Mart IPO lot size

The minimum investment for a retail individual investor is 74 shares. Half of the offer is kept aside for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Lalithaa Jewellery Mart IPO: Allotment and listing date

Before the IPO, the company raised ₹508 crore from anchor investors, Goldman Sachs Bank Europe, ICICI Prudential Mutual Fund (MF), Bandhan MF, Sanshi Fund-I, Kotak Mahindra Life Insurance Company, Bajaj Life Insurance and Morgan Stanley India Investment Fund, among others.

Lalithaa Jewellery Mart Ltd, which opened its first store in Chennai's T Nagar in 1985, sells gold, silver and diamond jewellery across styles to cater to the regional preference of the Southern Indian jewellery markets.