- By Aditya Pratap Singh
- Tue, 18 Aug 2026 02:32 PM (IST)
- Source:JND
Lalitha Jewellery Mart's Rs 1,700 crore initial public offering (IPO) has been fully subscribed on Tuesday-- the second day of bidding. The bidding race was led by Non-Institutional Investors, putting in 3.22 times the bids, followed by the employees category at 2.49 times till 1:51 PM, according to NSE data. However, the shares reserved for Qualified Institutional Buyers (QIBs) have yet to be subscribed fully.
The IPO was opened for public subscription on August 17, and bidding will close on August 18. The price band and lot size for the book build issue were fixed at Rs 190-201 per share and 74 shares, respectively. A minimum of Rs 14,874 is needed to place a bid.
Lalitha Jewellery Mart IPO GMP
Lalithaa Jewellery Mart IPO latest GMP was Rs 33, last updated at around 01:29 PM on Investorgain. With this, the shares showed a potential listing at Rs 234, up 16.42 per cent as compared to the upper price band of Rs 201.00.
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Should You Apply?
Geojit Investments Ltd, the wholly owned subsidiary of Geojit Financial Services, has given a 'Subscribe Rating' to Lalitha's share sale. The domestic financial firm noted the jewellery firm's revenue per store stood at Rs 410.2 crore in FY26, the highest among key organised jewellery retailers in India, highlighting its strong store productivity, efficient retail execution, and ability to generate superior sales throughput across its network.
According to Geojit, the company's topline grew at a CAGR of 22 per cent to Rs 25,024cr in FY26, driven by network expansion, higher gold prices, and robust revenue contribution from Tier II and Tier III markets.
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"EBITDA grew at a CAGR of 56.9 per cent over FY24-FY26E, supported by operating leverage, improved store productivity, and a higher contribution from in-house manufacturing. PAT increased at a CAGR of 67.5 per cent to Rs 1,010cr over FY24-26, reflecting strong operating performance, margin expansion, and benefits from scale efficiencies across the retail network," the financial firm highlighted.
Incorporated in 1985, Lalithaa Jewellery Mart operated 61 stores across 51 cities in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Puducherry, with a strong presence in Tier II and Tier III markets as of March 31, 2026.