Senco Gold worth Rs 405 IPO to open on July 4th, Retail News, Retail ET

New Delhi: Rs 405 billion initial share sale of jewelry retail company Golden Senco Ltd will open to the public on July 4. The initial share sale will end on July 6, and bidding for fixed investors will open on July 3, according to the Prospectus. by Red Herring (RHP).

Senco Gold’s Initial Public Offering (IPO) consists of a new equity share offering totaling Rs 270 crore and an offering (OFS) of equity shares at Rs 135. Rs crore by shareholder sold – SAIF Partner India IV Ltd.

Currently, SAIF Partners has a 19.23% stake in the jewelry retail chain.

The company proposes to use Rs 196 million of net proceeds from the new issue to finance working capital requirements and the rest for general corporate purposes.

The Kolkata-based company has 127 showrooms – 70 operating companies and 57 franchisees – in 89 cities and towns across 13 Indian states. Some of its franchised galleries are located in non-major and Tier I areas, providing greater accessibility in Tier 2 and Tier 3 locations.

The company also sells products through various online platforms. It is also committed to wholesale exports of its jewelry, mainly to Dubai, Malaysia and Singapore.

IIFL Securities Ltd, Ambit Private Ltd and SBI Capital Markets Ltd are leading managers in this regard. Proposed equity shares listed on mad cow disease and NSE.

In April 2022, the company submitted draft papers to Sebi for Rs 525 crore-IPO and was given permission by the regulator to float the IPO last July.

  • Published on June 28, 2023 at 05:14 pm IST

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