Lalithaa Jewellery Mart Sparkles with IPO Ambition
Lalithaa Jewellery Mart, a Chennai-based company, is set to launch an IPO to raise Rs 1,700 crore. The IPO combines fresh shares worth Rs 1,200 crore and an offer-for-sale worth Rs 500 crore. Proceeds will fund new stores and general corporate purposes. Listing is planned on BSE and NSE.

- Country:
- India
Lalithaa Jewellery Mart, a prominent player in the jewellery industry, has submitted preliminary documents to the market regulator SEBI to raise Rs 1,700 crore via an Initial Public Offering (IPO).
Hailing from Chennai, the company plans to raise Rs 1,200 crore through fresh shares and offer equities worth Rs 500 crore, held by M Kiran Kumar Jain. This allocation is highlighted in the Draft Red Herring Prospectus.
A portion of the proceeds, approximately Rs 1,014.50 crore, is earmarked for expanding its retail presence, with additional funds allocated for general corporate purposes.
(With inputs from agencies.)
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