# Lalithaa Jewellery Mart Limited: IPO analysis > Lalithaa Jewellery Mart Limited (CIN U36911TN1985PLC012417) has filed a Prospectus with SEBI for an IPO comprising a fresh issue of ₹1,200 Cr and an offer for sale of ₹500 Cr, priced at ₹190.00 to ₹201.00 per share. In FY26 it reported revenue of ₹25,024 Cr (+48.1% on FY25) and a net profit of ₹1,010 Cr. Promoters hold 97.7% before the IPO. Our fact-check of its claims found no medium or high concerns across 40 claims checked. - Page: https://ipo.innerkore.com/company/U36911TN1985PLC012417/lalithaa-jewellery-mart-limited/ - CIN: U36911TN1985PLC012417 - Last updated: 20 Aug 2026 ## Key facts - **Company:** Lalithaa Jewellery Mart Limited - **CIN:** U36911TN1985PLC012417 - **Filing stage:** Prospectus - **Latest SEBI filing:** 20 Aug 2026 - **Fresh issue:** ₹1,200 Cr - **Offer for sale:** ₹500 Cr - **Price band:** ₹190.00 to ₹201.00 per share - **Final offer price:** ₹201.00 per share - **Lot size:** 74 shares - **Bidding opens:** 17 Aug 2026 - **Bidding closes:** 19 Aug 2026 - **Listing on:** BSE, NSE - **Revenue FY26:** ₹25,024 Cr - **Revenue growth:** +48.1% - **Net profit FY26:** ₹1,010 Cr - **Revenue CAGR FY24 to FY26:** 22.1% - **Promoter holding (pre-IPO):** 97.7% - **Lead managers:** Anand Rathi Advisors Limited, Equirus Capital Limited - **Registrar:** MUFG Intime India Private Limited - **Fact-check flags:** 0 high, 0 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Valuation** (looks fine): 11.1x P/E. At the top of the band, on FY26 profit; 3.8x book value. - **Growth** (looks fine): 22.1% a year. Sales FY24 to FY26; latest year +48.1%. - **Profitability** (look closer): 4% net margin. FY26; operating margin improving. - **Debt** (look closer): 0.55x equity. ₹1,604 crore borrowed at the end of FY26. - **Profit into cash** (concern): -39% of profit. Operations brought in ₹-398 crore against ₹1,010 crore of profit in FY26. - **One-off income** (looks fine): 1% of profit. Other and one-off income is 1% of pre-tax profit. - **Where the money goes** (looks fine): 29% for sale. 71% is new shares issued by the company. - **Red flags** (looks fine): None serious. 40 claims checked: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 16,788 | 16,897 | 25,024 | | Sales growth | – | 0.7% | 48.1% | | Operating profit | 680 | 740 | 1,674 | | Operating margin | 4.1% | 4.4% | 6.7% | | Net profit | 360 | 365 | 1,010 | | Net margin | 2.1% | 2.2% | 4.0% | | Net worth | 1,564 | 1,925 | 2,930 | | Borrowings | 824 | 949 | 1,604 | | Return on equity | 23.0% | 18.9% | 34.5% | ## Use of proceeds (fresh issue) - 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: ₹35 crore - Expenditure towards inventory costs for setting up of New Stores: ₹999 crore - General corporate purposes: ₹85 crore ## Fact-checked claims - **NONE** (PromoterBackground): No amount or benefit has been paid or given or is intended to be paid or given to any of the Directors except the normal remuneration for services rendered as Directors and/or as Key Managerial Personnel.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claim made in the Draft Red Herring Prospectus. - **NONE** (PromoterBackground): Except for M. Kiran Kumar Jain and Hemaa Kiran Kumar Jain, none of the Directors have any interest in the promotion or formation of the Company other than in the ordinary course of business.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim made in the Draft Red Herring Prospectus. - **NONE** (PromoterBackground): M. Kiran Kumar Jain may be deemed interested to the extent of payments made by the Company, including pursuant to lease agreements entered into with him for properties in Hyderabad and Chennai.. No web search results were found to corroborate, contradict, update, or provide any new information regarding the claim about M. Kiran Kumar Jain and lease agreements with the company. - **NONE** (PromoterBackground): M. Kiran Kumar Jain and Hemaa Kiran Kumar Jain may be deemed interested to the extent of the security deposit payable by the Company.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that M. Kiran Kumar Jain and Hemaa Kiran Kumar Jain may be deemed interested to the extent of the security deposit payable by the Company. - **NONE** (LitigationStatus): Outstanding dues to other creditors amounted to ₹493.15 Crore as of March 31, 2026.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that outstanding dues to other creditors amounted to ₹493.15 Crore as of March 31, 2026. - **NONE** (LitigationStatus): Outstanding dues to micro, small, and medium enterprises (MSMEs) amounted to ₹28.96 Crore as of March 31, 2026.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that outstanding dues to MSMEs amounted to ₹28.96 Crore as of March 31, 2026. - **NONE** (PromoterBackground): Jitendra Kumar Pal is the Company Secretary and Compliance Officer and has been associated with the company since October 1, 2025.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Jitendra Kumar Pal is the Company Secretary and Compliance Officer associated with Lalithaa Jewellery Mart Limited since October 1, 2025. - **NONE** (PromoterBackground): Bhama S is the Chief Financial Officer and has been associated with the company since April 17, 2014, being appointed on January 8, 2024.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Bhama S's association with Lalithaa Jewellery Mart Limited. - **NONE** (SubsidiaryPerformance): The company set up its second store at Madurai in 2007, which was the first store outside the city of Chennai.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Lalithaa Jewellery Mart Limited set up its second store in Madurai in 2007. - **NONE** (SubsidiaryPerformance): The year 2003 saw the acquisition of the company by the present Promoter, M. Kiran Kumar Jain, although the acquisition was initiated in 1999.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that the company was acquired in 2003 but initiated in 1999. - **NONE** (SubsidiaryPerformance): Clause V of the MoA was amended on March 18, 2024 to reflect the subdivision of equity shares having face value of ₹10 each to Equity Shares having face value of ₹5 each.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the amendment of Clause V of the MoA for Lalithaa Jewellery Mart Limited. - **NONE** (SubsidiaryPerformance): Clause I of the MoA was amended on December 18, 2023 to reflect the change in company status and name following the conversion to a public limited company.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Clause I of the MoA was amended on December 18, 2023, for Lalithaa Jewellery Mart Limited. ## Common questions ### How big is the Lalithaa Jewellery Mart Limited IPO? Lalithaa Jewellery Mart Limited's IPO comprises a fresh issue of ₹1,200 Cr and an offer for sale of ₹500 Cr, according to its Prospectus. The price band was ₹190.00 to ₹201.00 per share and the final offer price was ₹201.00 per share. ### What are Lalithaa Jewellery Mart Limited's revenue and profit? Lalithaa Jewellery Mart Limited reported revenue from operations of ₹25,024 Cr in FY26, +48.1% versus FY25. Net profit was ₹1,010 Cr (FY25: ₹365 Cr). Revenue grew at a compound rate of 22.1% a year from FY24 to FY26. Figures are read from the Prospectus, as printed there. ### How much do promoters own in Lalithaa Jewellery Mart Limited? Promoters hold 97.7% of Lalithaa Jewellery Mart Limited before the IPO. Largest holders listed: 45 0- (422.2%); M. Kiran Kumar Jain (97.7%); Accropolis (0.8%). ### How will Lalithaa Jewellery Mart Limited use the IPO money? The fresh-issue proceeds are earmarked for: 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 (₹35 Cr); Expenditure towards inventory costs for setting up of New Stores (₹999 Cr); General corporate purposes (₹85 Cr). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Lalithaa Jewellery Mart Limited's Prospectus? We fact-checked 40 claims from the filing against the open web: 0 raised a high concern, 0 medium and 0 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Lalithaa Jewellery Mart Limited do? The biggest red flag in the Lalithaa Jewellery Mart Limited IPO filing is this: no current web search results could corroborate, contradict, or update any of the claims made in the Draft Red Herring Prospectus. This silence surrounding the documentation raises serious questions about the transparency and validity of… ### Who manages the Lalithaa Jewellery Mart Limited IPO? Book running lead managers: Anand Rathi Advisors Limited, Equirus Capital Limited. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Lalithaa Jewellery Mart Limited IPO documents? All 1 filing for Lalithaa Jewellery Mart Limited (Prospectus) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Lalithaa Jewellery Mart Limited - Prospectus](https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1787208957787.pdf) (Prospectus, filed 20 Aug 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.