Buzz Update Senco Gold has filed a DRHP to raise 525 crore through an IPO TOU

Buzz Update Senco Gold has filed a DRHP to raise 525 crore through an IPO

 TOU

Senco Gold has filed a DRHP to raise 525 crore through an IPO

Senco Gold Capital Markets regulator Sebi has filed a red herring prospectus to raise ₹ 525 crore through an initial public offering (IPO).

The latest issue of equity shares in Senco Gold’s IPO up to ₹ 325 crore and offer to sell up to ₹ 200 crore of equity shares through shareholder SAIF Partners India IV sale.

The company is proposing to use the ఆద 240 crore net income from the issue for funding working capital needs and the rest for general corporate purposes.

Pre-IPO placement

The company may also consider pre-IPO placement of equity shares totaling up to ₹ 65 crore. If a pre-IPO placement is undertaken, the amount collected from the placement will be deducted from the latest issue.

Headquartered in Kolkata, Senco Gold, which operates under the trade name ‘Senco Gold & Diamonds’, is the largest organized jewelery retailer in eastern India by number of stores, according to Crisil.

Senco Gold currently has 127 showrooms (70 company-run showrooms and 57 franchisees) in 89 cities and towns in 13 states of India.

Its revenue from operations increased from ₹ 2,420 crore as at 31 March 2020 to 10 per cent CAGR to 31 2,660 crore as at 31 March 2021.

The company has recently entered into a share subscription with Oman India Joint Investment Fund Trustee Company – Trustee of Oman India Joint Investment Fund II – for issue of 26,63,541 equity shares for a total consideration of ₹ 75 crore.

The book running lead managers for this offer are IIFL Securities, Ambit Pvt and SBI Capital Markets.

It is proposed to list equity shares on BSE and NSE.

Published

April 15, 2022

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