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Lalithaa Jewellery IPO draws 20.47x demand, with fresh capital earmarked for new stores

Lalithaa Jewellery Mart’s Rs 1,700-crore IPO was subscribed 20.47 times on Day 3, led by NII demand. Fresh-issue proceeds of up to Rs 1,200 crore will primarily fund new stores; the Chennai-founded jeweller is valued around Rs 11,250 crore at the upper band.

Newer report , , Hindustan Times : Lalithaa Jewellery Mart closes 24% above IPO price in market debut

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Store and format facts

From the report. Source details below

Offer for sale: up to Rs 500 crore
Anchor fundraising: Rs 508 crore
Anchor shares: 2.53 crore at Rs 201 each
Price band: Rs 190-201 per share
NII subscription: 49.51 times
Retail subscription: 8.19 times
Employee subscription: 6.17 times
GMP: Rs 44.5
Estimated listing price: Rs 245.5
Expected gain: 22.14%
Proposed listing: August 24

The source

Source Read the source at NDTV Profit Published

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