Mumbai, August 24: Shares of Lalithaa Jewellery Mart made a strong debut on the stock market on Monday, listing at more than a 31% premium over the IPO price after the company’s public issue received heavy investor demand.
The jewellery retailer’s shares were listed at ₹265 per share on the NSE, representing a 31.84% premium over the upper IPO price of ₹201.
On the BSE, the stock debuted at ₹265.30, a premium of 31.99%.
The company’s ₹1,700-crore IPO was subscribed 62.97 times during the bidding period from August 17 to 19. The IPO had a price band of ₹190 to ₹201 per share.
Following the listing, Lalithaa Jewellery Mart’s market capitalisation stood at approximately ₹14,849.10 crore.
Lalithaa Jewellery Shares: Should Investors Buy, Sell or Hold?
Market experts have adopted a positive but cautious view after the sharp listing gains.
Shivani Nyati, Head of Wealth at Swastika Investmart, said Lalithaa Jewellery remains attractively valued compared with organised jewellery players such as Kalyan Jewellers and Titan.
The company’s return on equity (ROE) of more than 41% also indicates strong capital efficiency.
However, investors should consider several risks. The business is inventory-heavy and reported negative operating cash flow of around ₹397.7 crore in FY26.
The company also faces an approximately ₹1,066-crore GST dispute, while promoter-related concerns remain another risk factor.
“After such a sharp listing gain, investors should avoid chasing the stock at higher levels,” Nyati said.
She advised existing investors to hold the stock with a ₹245 closing stop-loss, while fresh investors could wait for a meaningful correction before entering.
Lalithaa Jewellery IPO Attracted Strong Investor Demand
Before the public issue, Lalithaa Jewellery Mart raised around ₹508 crore from anchor investors.
The anchor book included institutional investors such as Goldman Sachs, ICICI Prudential Mutual Fund and Bandhan Mutual Fund.
The company’s strong IPO subscription indicated significant investor interest ahead of its stock market debut.
Lalithaa Jewellery Mart’s Journey
Lalithaa Jewellery Mart opened its first store in Chennai’s T Nagar in 1985.
The company sells a range of gold, silver and diamond jewellery through its retail network.
With the stock making a strong debut, investors will now track its trading performance, financial results, cash flows and the company’s ability to address its regulatory and promoter-related concerns.
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