India's Lalithaa Jewellery Mart jumps about 33% in trading debut
BUZZ-India's Lalithaa Jewellery Mart jumps about 33% in trading debut ** Shares of India's Lalithaa Jewellery Mart LALT.NS trade at 267.01 rupees in their market debut, 32.8% above IPO price of 201 rupees
** Co's 17 billion rupees ($177.69 million) IPO comprised fresh issue worth up to 12 billion rupees and offer for sale worth upto 5 billion rupees
** Co plans to primarily use proceeds from fresh issue to set up new stores
** Shivani Nyati, head of wealth at Swastika Investmart, says strong debut reflects investor interest and co remains attractively valued against organised peers TitanTITN.NS and Kalyan JewellersKALN.NS
** However, Nyati flags inventory-heavy operations and promoter-related concerns as key risks
($1 = 95.6700 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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