Senco Gold Limited proposes to open for subscription an initial public offering of equity shares of face value of ₹ 10 each aggregating up to ₹ 4,050 million on Tuesday, July 04, 2023. The initial public offering comprises a fresh issue of equity shares aggregating up to ₹ 2,700 million and an offer for sale by SAIF Partners India IV Limited of equity shares aggregating up to ₹ 1,350 million. The anchor investor bidding period is Monday, July 03, 2023. The Offer will close on Thursday, July 06, 2023.
- Issue Opens on: Tuesday, July 4, 2023
- Issue Closes on: Thursday, July 6, 2023
- Issue Type: Book Built Issue IPO
- Price Band: ₹301 to ₹317 per Equity Share
- Face Value: ₹ 10 per equity share
- Bids: Minimum of 47 Equity Shares and in multiples
The Price Band of the Offer has been fixed from ₹ 301 to ₹ 317 per equity share. Bids can be made for a minimum of 47 equity shares and in multiples of 47 equity shares thereafter. The Company proposes to utilize the net proceeds of the Fresh Issue towards funding working capital requirement of the Company which is estimated to be ₹ 1,960 million and balance amount towards general corporate purposes.
The Equity Shares are being offered through the red herring prospectus of the Company dated June 27, 2023 filed with Registrar of Companies, West Bengal at Kolkata and are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited.
Senco Gold Limited is a pan-India jewellery retail player with a history of more than five decades and have a fourth-generation entrepreneur in the jewellery industry as the Promoter. It is the largest organised jewellery retail player in the eastern region of India based on number of stores and among eastern India based jewellery retailers, it has the widest geographical footprint in non-eastern states (Source: CRISIL Report). Senco has been consistently in the league of most trusted jewellery brands and has improved its ranking from 4th most trusted jewellery brand by TRA’s Brand Trust Report 2017 to 2nd most trusted jewellery brand by TRA’s Brand Trust Report 2020.
As on March 31, 2023, Senco has 136 showrooms, which have a total area of approximately 409,882 sq. ft., in 96 cities and towns over 13 states across India. Some of its Franchisee Showrooms are located in areas other than metros and tier-I, providing it greater reach in tier-II locations.
Senco’s established ‘franchise’ model continues to promote asset-light growth for the company, while reducing the capital expenditure (capex) requirement and enabling faster expansion.
The Company primarily sells gold and diamond jewellery and also sell jewellery made of silver, platinum and precious and semi-precious stones and other metals. It offers a diverse jewellery collection, which includes gold jewellery, diamond jewellery, platinum jewellery and studded jewellery of various forms, across various price points (ranging from approximately ₹ 2,000 to approximately ₹ 500,000) to maximise the customer base.
