Anand Rathi Advisors Ltd.
Equirus Capital Ltd.

Founded in November 1985, Lalithaa Jewellery Mart Limited is a major retail jeweler in South India. The company caters mainly to value-conscious and budget-friendly shoppers, offering a wide selection of gold, silver, diamond, and gemstone jewelry. With a focus on craftsmanship, original designs, and high quality, it has built strong brand recognition and popularity across smaller cities and towns.

To support its growth across southern markets, the company operates both large and medium-sized retail stores. It uses a streamlined business model that pairs in-house production with smart inventory controls to keep operations efficient. Beyond its varied product lineup, Lalithaa Jewellery offers flexible savings schemes that help attract and retain a large, loyal customer base.

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*Market cap @upper band

• Strong regional presence with deep penetration in high-growth South Indian markets.
• Brand catering to the mass and value-conscious segment with own manufacturing.
• Strong brand pull in Tier II and Tier III cities with focus on quality, craftsmanship and original designs.
• Large Format Stores and Medium Format Stores driving scale.
• Robust customer base owing to diverse range of jewellery schemes.
• Asset-light retail business model with backward integration, efficient inventory management and quality control processes.
• Experienced promoter and management team with proven execution capabilities

The Company LALITHAA JEWELLERY LIMITED IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

• Funding expenditure towards setting-up of 10 New Stores: (a) Capital expenditure for fit-outs in the nature of furniture and fixtures, equipment, IT hardware and software (Rs. 34.55 Cr.)
• Funding expenditure towards setting-up of 10 New Stores: (b) Expenditure towards inventory costs for setting up of New Stores (Rs. 998.68 Cr.)
• General corporate purposes.

At the upper band of IPO Rs. 201, the stock is valued at 11.14 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.