Lalithaa Jewellery Mart IPO
Lalithaa Jewellery Mart IPO is a mainboard IPO raising ₹1,700 Cr at ₹190 – ₹201 a share. It listed on 24 Aug 2026 at ₹265, +31.8% against its issue price of ₹201, and trades at ₹348 today (+72.9% since issue). It was subscribed 63× in total.
63.0 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. stated in prospectus. Checked: exchange issue size Rs1700 Cr vs derived Rs1700 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 41% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Kalyan Jewellers India Limited | 46.85× | 24.63% | ₹13.05 |
| Manoj Vaibhav Gems N Jewellers Limited | 7.12× | 14.82% | ₹23.54 |
| PC Jeweller Limited | 9.26× | 10.32% | ₹0.83 |
| P N Gadgil Jewellers Limited | 22.18× | 23.21% | ₹30.2 |
| Senco Gold Limited | 11.5× | 26.07% | ₹35.06 |
| Thangamayil Jewellery Limited | 46.26× | 27.93% | ₹113.14 |
| Titan Company Limited | 85.25× | 36.48% | ₹57.16 |
| Tribhovandas Bhimji Zaveri Limited | 9.14× | 27.06% | ₹30.32 |
| This issue | 10× | 39.9% | ₹20.2 |
derived: cut-off price Rs201 / stated EPS Rs20.2 (FY26 diluted, restated consolidated financial information (face value ₹5)). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.