JSA Advises Lalithaa Jewellery Mart on Proposed ₹1,700 Crore IPO
Lalithaa Jewellery Mart, a Chennai-based jewellery retailer, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), eyeing a ₹1,700 crore Initial Public Offering (IPO).
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J Sagar Associates (JSA) is serving as legal advisor to Lalithaa Jewellery Mart and promoter-selling shareholder M. Kiran Kumar Jain on the IPO.
IPO Structure & Use of Funds
The IPO comprises two components:
Fresh Issue: Up to ₹1,200 crore, for Lalithaa’s capital requirements
Offer-for-Sale (OFS): Up to ₹500 crore, by promoter-selling shareholder M. Kiran Kumar Jain
Proceeds from the fresh issue are earmarked for expansion of store network—including setting up 12 new outlets—and general corporate needs.
Company Profile
Founded in 1985, with first store established in Chennai’s T. Nagar
Operates 56 stores across Southern India’s Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, and Puducherry
9M FY25 Revenue: ₹12,594.67 crore; PAT: ₹262.33 crore
Noted for high revenue per store and strong regional growth, reporting a CAGR of ~43.6% over FY22–24
JSA’s Advisory Team
The legal advisory team from JSA includes:
Arka Mookerjee – Lead Partner
Pracheta Bhattacharya – Partner
Anshu Bansal – Partner
Kairav Parikh – Principal Associate
Vatsla Varandani, Shreya Sharma, Anvita Sinha, Ritu R. Jaiswal, and Bernedict Rozario – Associates
They are guiding the client through regulatory filings and transaction documentation.
Strategic Outlook
Lalithaa plans to use IPO proceeds to accelerate retail expansion, particularly in Southern and other Indian markets. The ORS component allows promoter to partially exit and raise liquidity.
For investors, the IPO offers exposure to a high-margin retail player with strong growth metrics and a solid footprint in the jewellery sector.
Lalithaa Jewellery Mart’s DRHP filing and appointment of JSA underlines another high-profile market entry in India’s retail IPO pipeline. With support from a seasoned legal team, the company aims to leverage public listing to fund store expansion and provide an exit for stakeholders.
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Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.
