Senco Gold Limited's IPO price band fixed from Rs 301 to Rs 317 per equity share, subscription opens tomorrow
Kolkata: Jewellery retail major Senco Gold Limited on Monday said it proposes to open for subscription an initial public offering of equity shares of face value of Rs. 10 each ('Equity Shares')aggregating up to Rs. 4,050 million (Offer) on Tuesday.
The initial public offering comprises a fresh issue of equity shares aggregating up to Rs. 2,700 million ('Fresh Issue') and an offer for sale by SAIF Partners India IV Limited (the 'Selling Shareholder') of equity shares aggregating up to Rs. 1,350 million (the 'Offer for Sale').
The anchor investor bidding period is July 3.
When will the offer close?
The Offer will close on Thursday.
What is the Price Band of the Offer?
The Price Band of the offer has been fixed from Rs 301 to Rs 317 per equity share.
Bids can be made for a minimum of 47 equity shares and in multiples of 47 equity shares thereafter.
The jewellery manufacturing company said it proposes to utilize the net proceeds of the Fresh Issue towards funding working capital requirement of the Company which is estimated to be Rs. 1,960 million and balance amount towards general corporate purposes. (the 'Objects of the Issue').
The Equity Shares are being offered through the red herring prospectus ('RHP') of the Company dated June 27, 2023 filed with Registrar of Companies, West Bengal at Kolkata ('ROC') and are proposed to be listed on BSE Limited ('BSE') and the National Stock Exchange of India Limited ('NSE').
For the purposes of the Offer, the NSE is the Designated Stock Exchange.
Speaking at the press conference in Kolkata, Suvankar Sen, MD & CEO, Senco Gold Limited, said: "The main aim for the IPO is to raise working capital so that we can open more showrooms."
He said the company plans to expand the company as per the growth achieved by India in the future.
"With the IPO we want to continue our strong positive journey ahead," he said.
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.
(Reporting by Supriyo Hazra/Image by Avishek Mitra/IBNS)
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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