Senco Gold Limited’s Rs 405 crore initial public offering (IPO) opens for public subscription today. The Kolkata-based company is a renowned pan-India jewellery retailer incorporated in 1994. It will be the first IPO opening for subscription in the second half of the year. The shares have started trading in unlisted stock market and are available at a premium of of Rs 102 in grey market today, according to market observers.
Key Things About Senco Gold IPO You Should Know Before Subscribing:
IPO Date
The public issue will open for subscription on 4 July and close on 6 July. The anchor book for investors for bidding for a day opened on 3 July.
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Price Band
The Senco Gold IPO comes out with a price band of Rs 301-317. Investors can bid for a minimum of 47 equity shares and multiples thereafter. The minimum investment by retail investors in the issue would be Rs 14,899 per lot and the maximum would be Rs 1,93,687 for 13 lots as the investment cannot exceed Rs 2 lakh.
Issue Detail
The company is looking to raise Rs 405 crore through its first public issue. It comprises a fresh issue of equity shares worth Rs 270 crore and an offer-for-sale (OFS) of equity shares worth Rs 135 crore by the shareholder, SAIF Partners India IV Ltd. Currently, SAIF Partners owns a 19.23 per cent stake in the jewellery retail chain.
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Half of the issue size is reserved for qualified institutional buyers (QIBs), and 15 per cent for HNIs (non-institutional investors), the remaining 35 per cent is reserved for retail investors.
Shares of the company will be listed on both BSE and NSE, with 14 July as the tentative date of listing. IIFL Securities, SBI Capital Markets and Ambit Capital are book-running lead managers to the issue. Kfin Technologies has been appointed as the registrar of the issue.
Senco Gold Financials
Senco Gold Limited reported a 23 per cent growth in consolidated profit for fiscal 2022 at Rs 158.5 crore. The company recorded a revenue of Rs 4,077.4 crore, which increased by 15.35 per cent compared to the previous year. The net profit margin rose to 3.9 per cent in FY22.
