IPO Watch, June 9 -- Lalithaa Jewellery Mart Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO).

A jewellery company based in Chennai specializes in selling gold jewellery, with additional offerings that include silver items and diamond jewellery. It caters to the southern Indian market through its 56 stores, which are operational in Tier I, II, and III cities, and provides authenticated BIS-hallmarked jewellery.

Out of these stores, 22 are located in Andhra Pradesh, 20 in Tamil Nadu, seven in Karnataka, six in Telangana, and one is in the Union Territory of Puducherry, covering a total operational area of 6,09,4...