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Lalithaa Jewellery shares jump on IPO listing, then pull back
The IPO was subscribed 62.97 times and the company raised ₹508 crore from anchor investors before debuting at about a 32% premium.
Lalithaa Jewellery Mart shares made a strong start after listing on both the NSE and BSE, debuting at nearly 32% above the IPO issue price of ₹201. On the BSE, the stock opened at ₹265.30, and on the NSE it began trading at ₹265, with later trading showing the initial surge partly unwinding.
The stock extended gains early, rising 36.5% from the issue price, but it saw profit booking during Monday afternoon trade. Around 1 pm, it was down about 1.3% on both exchanges, trading near ₹261.7 on the BSE and ₹261.6 on the NSE.
Following the strong listing, the company’s market valuation was ₹14,462.90 crore. The IPO drew a 62.97x subscription on the final day of bidding, and anchor investors raised ₹508 crore, with the IPO price band set at ₹190 to ₹201 per share.
LiveMint Markets also highlighted risks and valuation points discussed by a market participant. The wealth head at Swastika Investmart Ltd cited Lalithaa’s return on equity of over 41% as a positive, while warning the business is inventory-heavy, with negative operating cash flow of around ₹397.7 crore in FY26, and flagging a ₹1,066 crore GST dispute and promoter-related concerns.