NEW DELHI, (Economy India): Jewellery retailer Lalithaa Jewellery Mart Ltd is set to launch its Rs 1,700 crore Initial Public Offering (IPO) on August 17, with the company planning to use the proceeds to expand its store network.
The IPO price band has been fixed at Rs 190 to Rs 201 per equity share. At the upper end of the price band, the company is expected to command a valuation of around Rs 11,250 crore.
The issue will comprise a fresh issue of shares worth up to Rs 1,200 crore and an Offer for Sale (OFS) of shares worth up to Rs 500 crore.
The planned fundraising comes as Lalithaa Jewellery looks to strengthen its retail presence and expand its network of stores. The jewellery retailer is seeking to use the fresh capital to support its growth plans and increase its footprint in the competitive Indian jewellery market.
With the IPO size at Rs 1,700 crore, the issue is expected to attract attention from investors tracking India’s growing organised jewellery retail sector. The price band of Rs 190-201 will also be closely watched as investors assess the company’s proposed valuation and expansion strategy.
The IPO is scheduled to open for subscription on August 17, giving investors an opportunity to participate in the company’s planned expansion through the public markets.
(Economy India)
