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Senco Gold's Rs 405 cr-IPO to open for public subscription on July 4

The Rs 405 crore-initial share sale of jewellery retail player Senco Gold Ltd will open for public subscription on July 4.

IPO

Press Trust of India New Delhi

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The Rs 405 crore-initial share sale of jewellery retail player Senco Gold Ltd will open for public subscription on July 4.
The initial share sale will conclude on July 6 and the bidding for anchor investors will open on July 3, according to the Red Herring Prospectus (RHP).
Senco Gold's Initial Public Offer (IPO) comprises of a fresh issue of equity shares aggregating up to Rs 270 crore and an offer-for-sale (OFS) of equity shares to the tune of Rs 135 crore by selling shareholder - SAIF Partners India IV Ltd.
At present, SAIF Partners has 19.23 per cent stake in the jewellery retail chain.
The company proposes to use Rs 196 crore of net proceeds from the fresh issue towards funding working capital requirements and the remaining for general corporate purposes.
The Kolkata-based firm has 127 showrooms -- 70 company operated and 57 franchisee -- in 89 cities and towns across 13 states in India. Some of its franchisee showrooms are located in areas other than metros and Tier-I, providing a greater reach in Tier-2 and Tier-3 locations.
The company also sells products through various online platforms. It also undertakes wholesale exports of its jewellery, primarily to Dubai, Malaysia and Singapore.
IIFL Securities Ltd, Ambit Private Ltd and SBI Capital Markets Ltd are the book running lead managers to the issue. The equity shares are proposed to be listed on the BSE and NSE.
In April 2022, the company had filed draft papers with Sebi for Rs 525 crore-IPO and received the regulator's go ahead to float the IPO in July last year. 

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First Published: Jun 28 2023 | 7:43 PM IST

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