Lalithaa Jewellery Mart shares list at 32% premium on NSE, BSE; here's how much investors made per lot

The stock is listed at ₹265 per equity share on the National Stock Exchange (NSE), reflecting a premium of 31.84% over the IPO issue price of ₹201 apiece.

On the BSE, it started trading at ₹265.30 per unit, up 31.99% from the issue price.

Lalithaa Jewellery Mart IPO: Here's how much investors made per lot

The ₹1,700 crore initial public offering was a combination of a fresh issue of up to ₹1,200 crore and an offer-for-sale (OFS) of ₹500 crore. The money generated will be utilised to fund new stores 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," according to the red herring prospectus.

The initial share sale received 62.97 times subscription, as it received bids for 3,95,22,17,604 equity shares against 6,27,61,403 shares on offer, as per the NSE data.

The qualified institutional buyers (QIBs) portion was subscribed 145.38 times. The category for non-institutional investors (NIIs) was booked 73.90 times, and the portion for retail individual investors received 11.81 times subscription.

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

Lalithaa Jewellery Mart, which opened its first store in Tamil Nadu in 1985, sells gold, silver and diamond jewellery.