Lalithaa Jewellery Mart stock lists at 32 per cent premium

Representational Image. File pic.

Shares of Lalithaa Jewellery Mart on Monday listed with a premium of 32 per cent against the issue price of Rs 201.

The stock started trading at Rs 265.30, up 31.99 per cent from the issue price on the BSE.

At the NSE, the stock listed at Rs 265, a premium of 31.84 per cent.

The company's market valuation stood at Rs 14,462.90 crore.

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 Rs 508 crore from anchor investors, including Goldman Sachs, ICICI Prudential Mutual Fund and Bandhan Mutual Fund.

The price band was fixed at Rs 190-201 per share.

The issue had a fresh issue of up to Rs 1,200 crore and an offer-for-sale of up to Rs 500 crore.

Lalithaa Jewellery Mart, which opened its first store in Chennai's T Nagar in 1985, sells gold, silver and diamond jewellery.

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