Chennai-based jewellery retailer Lalithaa Jewellery Mart has set the price band for its Rs 1,700-crore initial public offering (IPO) at Rs 190-201 per share. The mainboard issue will open for subscription on August 17 and is scheduled to list on both the BSE and NSE.
The company will raise Rs 1,200 crore through a fresh issue of shares, while promoter and founder Kiran Kumar Jain will offload shares worth Rs 500 crore through an offer-for-sale (OFS).