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Lalithaa Jewellery Mart shares end nearly 24 pc higher in market debut trade
The initial public offer of Lalithaa Jewellery Mart received 62.97 times subscription on the final day of bidding on Wednesday last week.
Shares of Lalithaa Jewellery Mart on Monday ended with a premium of nearly 24 per cent against the issue price pf ₹201.
The stock started trading at ₹265.30, up 31.99 per cent from the issue price on the BSE. During the day, it surged 36.46 per cent to ₹274.30. Shares of the firm ended at ₹248.40, registering a jump of 23.58 per cent.
At the NSE, the stock listed at ₹265, a premium of 31.84 per cent. It ended at ₹248.44, up 23.60 per cent.
The company's market valuation stood at ₹13,903.19 crore.
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The initial public offer of Lalithaa Jewellery Mart received 62.97 times subscription on the final day of bidding on Wednesday last week.
The jewellery retailer has raised ₹508 crore from anchor investors, including Goldman Sachs, ICICI Prudential Mutual Fund and Bandhan Mutual Fund.
The price band for the offer was fixed at ₹190-201 per share.
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The initial public offering had a fresh issue of up to ₹1,200 crore and an offer-for-sale of up to ₹500 crore.
Lalithaa Jewellery Mart, which opened its first store in Chennai's T Nagar in 1985, sells gold, silver and diamond jewellery.
