Senco Gold IPO: There has been a lot of activity in the IPO market in the last few weeks. While two IPOs are currently open for subscription, another IPO is coming up next week. Senco Gold’s Rs 405 crore IPO with a price band of Rs 301-317 per share will open for subscription from Tuesday, July 4. In this issue, 270 crore fresh shares will be issued while 135 crore shares will be offered for sale (OFS). 135 crore shares will be sold by the company’s promoter SAIF Partners India Limited, which holds 19.23 per cent stake in the company.
Senco Gold is a jewelery chain and its public offering will be open from July 4 to July 6. Its price band has been kept from Rs 301 to Rs 317. On the upper band, the company plans to raise Rs 405 crore from the market, in which the company’s value has been estimated at Rs 2460 crore. The issue will open for anchor investors on July 3. The share allotment will be done on July 11 and the shares will be credited to the demat account of the holder on July 13. Shares of Senco Gold are likely to get listed on BSE and NSE on July 14.
Other Information on Senco Gold IPO
The lot size of 47 shares has been kept in the public issue of Senco Gold. This means investors have to apply for at least 47 shares. Retail investors can apply for a maximum of 13 lots. That is, small investors will have to invest at least Rs 14,899. The capital raised by the company from this IPO will be used to meet working capital requirements and for general corporate purposes.
IIFL Securities for the IPO of Senco Gold, Ambit Pvt. Ltd. and SBI Capital Markets are the lead managers while Kefin Technologies is the IPO registrar. The company has reserved 50 per cent shares for QIB category investors while 15 per cent shares are reserved for Non Institutional Investors (NIIs) and the remaining 35 per cent shares are reserved for retail investors.
About Senco Gold and Diamonds
The company is engaged in the business of gold and diamond jewellery. It also has jewelery made of silver, platinum and precious stones. It sells its products under the trade name Senco Gold & Diamonds. In the financial year 2023, the company recorded a net profit of 158.48 crores. Last year the company’s profit was Rs 129 crore.
