Lalithaa Jewellery Mart Limited has officially confirmed that there are no material deviations or variations in the utilization of its Initial Public Offer (IPO) proceeds. This statement pertains to the quarter ended September 30, 2026. The company provided a detailed breakdown of fund allocation and utilization, indicating that the deployed funds align with the originally disclosed objects and purposes.
IPO Proceeds Utilization Confirmed
Lalithaa Jewellery Mart Limited has submitted its statement regarding the deviation or variation in the utilization of funds raised through its Initial Public Offer (IPO). For the quarter ended September 30, 2026, the company confirms that there has been no material deviation or variation in how the IPO proceeds have been utilized.
Fund Allocation and Utilization Details
The company provided a comprehensive statement detailing the utilization of funds. The total IPO proceeds raised were ₹12,000 million. For the quarter ending September 30, 2026, specific allocations were made towards various objectives. Key utilizations include:
- Capital expenditure for fit-outs in nature of furniture and fixtures, equipment, IT hardware and software: Original allocation was ₹345.50 million, with ₹125.00 million utilized during the quarter. The total unutilized amount stands at ₹220.50 million.
- Expenditure towards inventory costs for setting up of New Stores: Original allocation was ₹9,986.81 million, with ₹5,854.78 million utilized during the quarter. The total unutilized amount is ₹4,132.03 million.
- General Corporate Purposes: Original allocation was ₹845.82 million, with ₹845.20 million utilized during the quarter. The total unutilized amount is ₹0.62 million.
The total utilized amount for the quarter across all these heads is ₹7,503.26 million, with a total unutilized amount of ₹4,496.74 million from the gross proceeds.
No Material Variation
The company’s filing explicitly states that there were no deviations in the objects or purposes for which the funds were raised, nor were there deviations in the amount of funds utilized against what was originally disclosed. Similarly, there were no changes in the terms of any contract referred to in the fundraising document.
The net proceeds from the IPO, after deducting IPO issue expenses, amounted to ₹11,178.13 million. These unutilized proceeds have been temporarily invested or parked in bank accounts, deposits, bonds, and commercial paper, as per the company’s disclosed practices.
Source: BSE
