Lalithaa Jewellery Mart Ltd IPO

About Lalithaa Jewellery Mart Ltd

Our Company was incorporated under the name of Lalitha Jewellery Mart Private Limited, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated November 26, 1985, issued by the RoC. Subsequently, the name of our Company was changed from Lalitha Jewellery Mart Private Limited to Lalithaa Jewellery Mart Private Limited pursuant to a fresh certificate of incorporation consequent upon change of name, dated November 4, 2013, issued by the Registrar of Companies, Tamil Nadu & Andaman at Chennai. Subsequently, our Company was converted from a private limited company into a public company pursuant to the Board resolution dated November 23, 2023 and the special resolution dated December 18, 2023 passed by our Shareholders and consequently the name of our Company was changed to Lalithaa Jewellery Mart Limited and a fresh certificate of incorporation dated January 5, 2024 was issued by the RoC.

The Indian gems and jewellery retail industry was valued at Rs.6,490 billion in Fiscal 2024 and is expected to grow at a CAGR of 13-14% to reach Rs.12,000-12,200 billion by Fiscal 2029. South India remains the largest jewellery consuming region, accounting for 38-43% of India's overall jewellery demand, with strong cultural affinity for gold and preference for traditional craftsmanship. Out of the total industry, gold jewellery dominates the market share, accounting for 81-86% of industry revenues, with the remainder consisting of diamond, silver, and other studded jewellery segments. Organised retail chains, comprising national and regional jewellery chains, is projected to grow its market share from 37-42% in Fiscal 2025 to 44-49% by Fiscal 2029.

We are a jewellery retailer operating under the brand name Lalithaa, offering a diverse range of gold jewellery, silver jewellery, and diamond jewellery across styles, designed to cater to regional preferences of the southern Indian jewellery markets. Our Company had the highest operating revenue per store amongst key organised jewellery players in India, at Rs. 4,102.28 million, Rs. 2,816.22 million and Rs. 3,167.56 million for Fiscal 2026, for Fiscal 2025 and for Fiscal 2024 respectively. For further details, please refer to the section Basis for Offer Price on page 135 to page 151 of this Red Herring Prospectus. Our Company reported operating revenue CAGR of 22.09% between Fiscals 2024 and 2026. We strive to serve the southern Indian market with authenticated BIS-hallmarked jewellery through our 61 stores in 51 cities in the states of Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and the Union Territory of Puducherry, spread across a total operational area of 650,881 sq. ft., as of March 31, 2026. We stand out as a disruptive brand, offering gold jewellery at competitive prices due to our in-house manufacturing capabilities. With this ethos, our Company has been able to establish a brand image with our target customers which, in turn, has allowed us to grow our revenue from operations from Rs. 167,880.52 million in Fiscal 2024 to Rs. 250,239.27 million in Fiscal 2026, with a CAGR of 22.09%.

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