Lalithaa Jewellery Mart IPO fully subscribed on Day 2

Lalithaa Jewellery Mart's Rs 1,700-crore initial public offering was fully subscribed on Tuesday, the second day of bidding, with overall subscription reaching 1.08 times as of 11:00 a.m. Retail investors and employees led demand, subscribing 1.22 times and 1.93 times respectively, while non-institutional investors applied for 1.28 times the reserved portion. Qualified institutional buyers lagged at 0.67 times.

The grey market premium (GMP) stood at Rs 30 per share on Tuesday morning, suggesting a listing gain of about 14.93% over the upper price band of Rs 201. The issue, which opened on August 17, closes on August 19. Share allotment is expected on August 20, and the stock is scheduled to list on NSE and BSE on August 24.

The company plans to use proceeds primarily to set up 10 new stores and to fund inventory requirements of Rs 998.68 crore. Lalithaa Jewellery Mart, a South India-focused retailer, offers gold, silver, diamond and precious jewellery. It reported a total income of Rs 25,039.80 crore and a profit after tax of Rs 1,009 crore for FY26.