JSA acts on Lalithaa Jewellery ₹1,700 Crore IPO

JSA Advocates and Solicitors is advising Lalithaa Jewellery Mart Limited and M. Kiran Kumar Jain, the Promoter Selling Shareholder, in relation to the proposed initial public offering of equity shares aggregating to ₹1,700 crore.

The Firm guided the company and shareholder through the complex IPO process, ensuring regulatory compliance and a smooth transaction.

The transaction team was led by Arka Mookerjee (Lead Partner), with support from Equity Capital Markets team, including Pracheta Bhattacharya (Partner), Anshu Bansal (Partner), and Kairav Parikh (Principal Associate), Vatsla Varandani (Associate), Shreya Sharma (Associate), Anvita Sinha (Associate), Ritu Jaiswal (Associate), Bernedict Rozario (Associate).

The IPO comprises a fresh issue of ₹1,200 crore and an offer for sale of ₹500 crore by the Promoter Selling Shareholder.

The Chennai-based jewellery retailer plans to use ₹1,014.5 crore from the proceeds to expand its store network across India, with the remainder earmarked for general corporate purposes. The company, known for its large-format showrooms in South India, currently operates 56 stores across five states and Union Territories, and reported a revenue of ₹16,788 crore in FY24.

The IPO comes amid rising demand in India’s jewellery market, which is projected to nearly double by FY2029. Lalithaa Jewellery reported a 43.6% CAGR in store-level revenue between FY22 and FY24, one of the highest in the organised jewellery segment. The brand also runs two manufacturing facilities in Tamil Nadu and offers BIS-hallmarked products backed by loyalty schemes like 'Dhana Vandhanam'.

Lalithaa Jewellery is a prominent jewellery retailer based in Chennai, renowned for its extensive collection of gold, diamond, platinum, and silver jewellery. The brand is known for its commitment to quality and craftsmanship, offering a diverse range of products that cater to various tastes and occasions. One of their standout features of is their low wastage policy, which appeals to customers looking for value without compromising on quality.

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