Lalithaa Jewellery Mart IPO opens Aug 17 priced ₹190-₹201, 11,250Cr
Business
Lalithaa Jewellery Mart is opening its IPO for subscription from August 17 to 19, with shares priced between ₹190 and ₹201. At the top end, the company's valuation hits ₹11,250 crore.
The IPO includes a fresh issue of ₹1,200 crore and an offer for sale of up to ₹500 crore by promoter Kiran Kumar Jain.
Lalithaa allocates 1,033.2Cr for 10 stores
Lalithaa plans to use ₹1,033.2 crore of the net proceeds from the fresh issue to open 10 new stores across India.
Shares are expected to list on BSE and NSE on August 24.
Opinions are split: SBI Securities is cautious due to the company's lack of a hedging policy, while Swastika Investmart sees strong profit growth but warns about negative cash flows and a pending GST dispute.