If you’re considering investing in an Initial Public Offering (IPO), we have exciting news for you. Senco Gold, a renowned jewelry company, is set to launch its IPO on July 4th.
This Kolkata-based company invites investors to participate in the offering until July 6th, with allotment to anchor investors taking place on July 3rd.
The price range for the IPO has been set at ₹301-317 per share, aiming to raise ₹405 crore and valuing the company at ₹2,460 crore.
IPO Details
The Senco Gold IPO, worth ₹405 crore, consists of a fresh issuance of shares worth ₹270 crore and an offer for sale (OFS) of shares up to ₹135 crore by its promoter,
SAIF Partners India IV Ltd, which currently holds a 19.23% stake in the company.
Qualified institutional buyers can reserve 50% of the offering, while non-institutional investors and retail investors have allocations of 15% and 35%, respectively.
Company’s Statement
Senco Gold stated that the final price band, floor price, and offer price will be determined in consultation with the book running lead managers based on market demand for the equity shares.
The company is recognized as the largest organized jewelry retailer in Eastern India, specializing in gold, diamond, platinum, and silver jewelry, as well as other precious and semi-precious stones and metals.
Its products are marketed under the brand name “SENCO Gold & Diamonds” through various channels, including showrooms and online platforms.
Prominent promoters of the company include Suvankar Sen, Jai Hanuman Shree Siddhivinayak Trust, and Om Gana Ganapataye Bajrangbali Trust.
The net proceeds from the IPO will be utilized for financing the company’s working capital requirements and general corporate purposes.
In the fiscal year ending March 2023, Senco Gold reported a total income of Rs 4,108 crore and a profit of Rs 158 crore.
Expected Listing on July 14th
The final allotment of shares is likely to be completed on July 11th, with the anticipated date of listing set for July 14th.
IIFL Securities, Ambit, and SBI Capital Markets are the appointed book running lead managers for the IPO, while Kefin Technologies will serve as the registrar.
