Lalithaa Jewellery nets ₹508cr from 22 anchor investors ahead IPO
Lalithaa Jewellery just pulled in ₹508 crore from 22 big-name anchor investors ahead of its IPO.
On August 14, it handed out 2.53 crore shares at ₹201 each, with heavy hitters like Goldman Sachs Bank Europe and ICICI Prudential Mutual Fund jumping in.
Lalithaa Jewellery IPO seeks ₹1,700cr
The IPO runs August 17-19, offering fresh shares of up to ₹1,200 crore and an offer-for-sale of up to ₹500 crore.
Shares are priced between ₹190-201, putting Lalithaa's value close to ₹11,250 crore.
Most of the money raised will go toward opening new stores, pretty cool for a brand that started back in 1985 in Chennai's T. Nagar and now deals in gold, silver, and diamond jewelry.
Lalithaa Jewellery to list Aug 24
Domestic mutual funds grabbed 45.26% of the anchor shares (1.14 crore), showing strong local interest.
The stock is set to list on BSE and NSE on August 24, so keep an eye out if you're curious about how it performs!