Lalithaa Jewellery Mart IPO allotment expected today; GMP at 27% — Here’s how to check status

The wait is almost over for investors in the Lalithaa Jewellery Mart IPO, with the share allotment expected to be finalised today, Thursday, August 20. Once the allotment is announced, investors can check their application status online through the IPO registrar’s website, as well as the allotment sections of the BSE and NSE. The grey market premium (GMP), currently around 27%, points to strong investor expectations ahead of the listing.

The IPO, which opened for subscription on August 17 and closed on August 19, received an overwhelming response, with the issue subscribed 62.97 times overall. Investors bid aggressively for a significant portion of the 6.27 crore shares on offer.

Breaking down the subscription figures, the retail portion was subscribed 11.81 times, while the Non-Institutional Investors (NII) category saw 73.90 times subscription. The Qualified Institutional Buyers (QIB) segment led the charge with a staggering 145.38 times subscription.

Lalithaa Jewellery Mart had set the IPO price band at ₹190–201 per share. The ₹1,700-crore issue includes a fresh issue of ₹1,200 crore and an offer for sale (OFS) worth ₹500 crore by promoter and founder Kiran Kumar Jain.

With investor interest running high and the GMP hovering around 27%, market watchers will be closely tracking the allotment and the stock’s debut. The company’s shares are expected to list on both the NSE and BSE on August 24, subject to applicable timelines.

Anand Rathi Investment Banking and Equirus are the book-running lead managers for the issue, while MUFG is acting as the registrar.

1. Registrar’s Website

• Go to NSE IPO Allotment page
• Select Equity
• Choose Lalithaa Jewellery Mart
• Enter your application number and PAN.

• Select Equity under issue type.
• Select Lalithaa Jewellery Mart from the dropdown.
• Enter your application number OR PAN number.
• And fill the captcha and click search to view allotment.

Valuation

Valuation is one of the key positives of the issue. At the upper end of the price band, Lalithaa Jewellery Mart’s price-to-earnings (P/E) ratio, based on diluted FY26 EPS, stands at 9.95x. At the lower end, the P/E multiple is 9.41x.This is significantly lower than the FY26 average P/E of 29.69x for the company’s industry peer group, indicating that the IPO is priced at a relatively attractive valuation compared with the broader industry. The floor price represents 38x the face value, while the cap price represents 40.20x the face value.

Lalithaa Jewellery IPO use of proceeds

Lalithaa Jewellery plans to deploy the net proceeds from its IPO primarily towards an ambitious retail expansion, earmarking funds to set up 10 new stores. Of the total Rs 1,033.23 crore proposed to be utilised, Rs 34.55 crore will go towards capital expenditure, including store fit-outs, furniture and fixtures, equipment, and IT hardware and software. The bulk of the proceeds—Rs 998.68 crore—will be invested in inventory required to launch and stock these new outlets.

The IPO proceeds therefore underline Lalithaa Jewellery’s strategy of strengthening its physical retail footprint and building inventory capacity to support future growth. While the lion’s share of the funds is directed towards inventory for the new stores, the remaining amount will be used for general corporate purposes, giving the company some flexibility to meet broader business requirements as it expands.

Strong FY26 financial performance

Lalithaa Jewellery Mart enters the IPO market after reporting a sharp improvement in its financial performance. The company’s total income jumped 48% year-on-year, rising from Rs 16,907.88 crore in FY25 to Rs 25,039.80 crore in FY26. Profitability saw an even stronger acceleration. Profit after tax (PAT) surged 177%, from Rs 364.73 crore in FY25 to Rs 1,009.82 crore in FY26.

About Lalithaa Jewellery Mart

The retailer sells gold, silver and diamond jewellery under the Lalithaa brand, with products tailored to regional preferences across southern India. It operates 61 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and the Union Territory of Puducherry.

Tier II and Tier III cities account for 45 of its stores and contributed 60.25% of the company’s revenue in FY26.

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