Senco Gold IPO: Jewelery retailer company Senco Gold is preparing to bring IPO. The company has filed a draft paper with the stock market regulator SEBI for approval of the IPO. Senco Gold can raise Rs 525 crore from the market through IPO.
Fresh issue of Rs 325 crore will be issued in the IPO. At the same time, the stake will be sold through an offer for sale of Rs 200 crore. Investor SAIF Partners India IV Limited will sell its stake in the company.
The company will spend Rs 240 crore on working capital requirements and the remaining amount will be spent on general corporate needs. The company will raise Rs 65 crore through pre-IPO placement. If the money is raised from the pre-IPO placement, then this amount will be deducted from the size of the IPO.
Kolkata-based Senco Gold runs a retail showroom under the brand name Senco Gold and Diamond. Most of the company’s showrooms are present in the eastern states. The Lead Managers of the company are IIFL Securities, Ambit Capital and SBI Capital Markets. The shares of the company will be listed on BSE and NSE.
Looking at the financial results of the company, the revenue of the company has increased by 9.92 percent to Rs 2660 crore as on 31 March 2021. At the same time, till 30 November 2021, in the 8 months of 2021-22, the company’s revenue has been Rs 2467 crore and the company has made a profit of Rs 100 crore. There is a total of 127 showrooms in Senco Gold.