Senco Gold raises over ₹121 crore from target investors before IPO

Chicago
By Chicago 8 Min Read

Jewelery retail player Senco Gold Ltd on Monday said it had mobilized ₹121.5 crore from key investors ahead of its initial share sale.

Senco Gold Limited has allotted 38,32,807 shares of stock to 21 lead investors and raised ₹121.50 crore ahead of the company’s proposed IPO, the upper price range of ₹317 per share (including premium of ₹307 per share) with a par value of ₹10 per share.

The Anchor was a well-diversified book, with a focus on long-only investors. Leading major investors include Nippon MF, White Oak, Jupiter asset management, Bandhan MF, 3P India Equity Fund (fund owned by Prashant Jain – first IPO investment by the fund), Max Life Insurance, Sundaram MF, Franklin Templeton MF.

BNP Paribas Arbitrage, Societe Generale, Elara India Opportunities Fund, 3P India Equity Fund 1, Nippon India Mutual Fund (MF), WhiteOak Capital MF, Sundaram MF, Bandhan MF, Jupiter India Fund and Max Life Insurance Company are among the anchor investors.

The initial public offering (IPO) of ₹405 crore of Senco Gold comprises a new issue of shares of up to ₹270 crore and an offering for sale (OFS) of shares valued at ₹135 crore by shareholder SAIF Partners India IV Ltd.

Currently, SAIF Partners holds a 19.23% stake in the jewelry retail chain.

The issue, with a price range of ₹301 to ₹317 each, will open for public subscription on 4 July and close on 6 July.

Of the ₹270 crore, the company proposes to use ₹196 crore of net proceeds from the new issue to finance working capital requirements and the remainder for general corporate purposes.

The Kolkata-based company has 140 showrooms across 13 states and a total of 63% of them are located in West Bengal. It also sells its products through various online platforms and undertakes wholesale exports of its jewellery, mainly to Dubai, Malaysia and Singapore.

IIFL Securities Ltd, Ambit Private Ltd and SBI Capital Markets Ltd are the lead managers of the issue. Listing of shares on BSE and NSE is proposed.

.authorSearch{margin:20px; border radius: 4px; border: solid 1px #e0e0e0; background:#fff;} .authorInp{ height:40px; width: 86%; padding: 11px 16px; color:#212121; edge:0; box-sizing:border-box; float:left; font size: 14px; font-weight:700;} .authorInp::placeholder { color: #bdbdbd;} .authorBtn{ background:url(https://www.livemint.com/lm-img/static/icon-sprite.svg) no-repeat -24px -10px #fff; cursor: pointer; float:right; width: 20px; height: 20px; edge:0; margin:11px 16px 0 0} .authoSlider{ background:#f5f5f5; box-sizing:border-box; bottom margin: 9px; whitespace:nowrap; width: 100%; overflow-x:not set; padding:0;} .authoSlider a{ display:inline-block; cursor: pointer; margin:0 10px; border-bottom:3px solid #f5f5f5; padding: 9px 0; font size: 12px; color:#212121; font-weight:400; font-family: ‘Lato Regular’,sans-serif;} .authoSlider a.active{border-color:#f99d1c; color:#f99d1c; font-weight:900; font-family: ‘Lato Black’,sans-serif;} .authoSlider a:hover{color:#f99d1c;} .authorSec{padding:0 20px 20px;} .authorBox{ width:48.5%; padding: 12px; float:left; top margin: 16px; border radius: 4px; border: solid 1px #e0e0e0; background color: #fff; box-sizing:border-box;} .authorBox:nth-child(odd){margin-right:7px;} .authorBox:nth-child(even){margin-left:7px;} .authorImg{ width:62px; height: 62px; border:1px solid #f99d1c; float:left; padding: 4px; box-sizing:border-box; border-radius:50%;} .authorImg img{ width:54px; height: 53px; border-radius:50%;} .authorDesc{ margin:0 0 0 9px; float:Left; width: calc(100% – 71px);} .cardHolder.open .authorDesc h2{margin:0; padding: 0; font-weight:900; color:#000; font size: 16px; font-family: ‘Lato Black’, sans-serif; bottom margin: 5px; whitespace:nowrap; overflow – hidden; text-overflow: ellissis;} .authorDesc h2 a{color:#000;} .authorDesc h2::after{ display:none;} .authorDesc h1 { display: block; float: none; width: 100%; padding: 0;} .authorDesc h5{ display: block; width: 100%; font-weight:400; color:#757575; font size: 14px; font-family: ‘Lato Regular’,sans-serif; bottom margin: 5px; whitespace:nowrap; overflow – hidden; text-overflow: ellissis;} .twitterAuthor{ background:url(“https://www.livemint.com/lm-img/dev/ico-tw.svg”) no-repeat 0 0; width: 20px; height: 20px; right margin: 18px; float:left; margin-top:2px;} .emailAuthor{ background:url(“https://www.livemint.com/lm-img/dev/ico-emai.svg”) no-repeat 0 0; width: 20px; height: 20px; float:left; margin-top:2px;} .followAuthor{ padding:4px 11px; font-weight:900; color:#424242; font size: 12px; font-family: ‘Lato Black’, sans-serif; border:1px solid #d2d2d2; float:right; border-radius:25px; } .followAuthor span{margin-left:6px;} .authorBox2{ width:100%; padding: 12px; top margin: 16px; bottom margin: 5px; background color: #fff; box-sizing:border-box;} .authorInfo{border-top: solid 1px #e4e4e4; top margin: 10px; padding: 10px; font-weight:400; color:#424242; font size: 16px; row height: 22px; font-family: ‘Lato Regular’,sans-serif;} .fs16{ font-size:16px;} a.authorlink{margin: 0; top padding: 0; background position: center right; font size: 12px; text-transform:uppercase;} .noAuthor{background:#fff; padding: 100px; text-align:center; margin-bottom:5px;} .noAuthor strong{ display:block; font-weight:700; color:#2f2f2f; font size: 16px; font-family: ‘Side Bold’,sans-serif; margin-bottom:8px;} .noAuthor span{ display:block; font-weight:400; color:#757575; font size: 14px; font-family: ‘Lato Regular’,sans-serif; margin-bottom:12px;} .noAuthor a{font-weight:900; padding: 13px 27px; text transformation: uppercase; display: online lock; color:#fff; font size: 12px; background:#f99d1c; font-family: ‘Lato Black’, sans-serif; border-radius:4px;} .authorSubHead{ font-weight:900; color:#757575; font size: 12px; font-family: ‘Lato Black’, sans-serif; padding:0 20px 12px;} .authorsHolder{ padding:0 16px;} a.authorsName{ padding:7px 41px 7px 12px; border:1px solid #d2d2d2; font-weight:900; color:#424242; font size: 14px; font-family: ‘Lato Black’, sans-serif; display: online lock; background:url(“https://www.livemint.com/lm-img/dev/add-author.svg”) no-repeat 90% center; margin:0 2px 10px; border-radius: 25px;} a.authorsName.selected{ background-image:url(https://www.livemint.com/lm-img/dev/added-author.svg); background color:rgba(249, 157, 28, 0.1); border-color:#f99d1c;} .selectedAuthors{ margin-top:20px;} .authoSlider .swiper-container{padding:0;} .authoSlider .swiper-container .swiper-button-next, .authoSlider .swiper-container .swiper-button-prev{margin-top:-14px;} .authoSlider .swiper-container .swiper-button-prev {margin-left:0;} .authoSlider .swiper-slide{width:auto;} :5px;} .authorBoxSec{margin:16px 20px;} .authorBox2.authorBox2Story{padding: 16px; border radius: 4px; border: solid 1px #e4e4e4; background-color: #fbfbfb;} .authorBox2.authorBox2Story .authorImg{width:37px; height:37px;} .authorBox2.authorBox2Story .authorImg img { width: 28px; height: 28px; border-radius: 50%;} .authorBox2.authorBox2Story .authorInfo{font-size:14px; row height: 22px; padding-bottom:0;} .authorBox2.authorBox2Story .authorDesc h5{ margin-bottom:0; margin-top:4px} .authorHeader{ text-transform:uppercase; font size: 12px; font-weight: 900; color:#757575; font-family: ‘Lato Black’, sans-serif; margin-bottom:10px;} @media(max-width:767px){ .authorSearch{margin:16px;} .authorBox{width:100%; float:none;} .authorSec{padding: 0 16px 16px;} .noAuthor{padding:100px 20px;} .authorSubHead{ padding:0 16px 12px;} .authorsHolder{ padding:0 12px;} .selectedAuthors{ margin-top:16px;} .authorBoxSec{margin:16px;} .authorBox:nth-child (dis even){margin-right:0;} .authorBox:nth-child(even){margin-left:0;} .authorBox2{margin-top:0;} } Know your inner investor Do you have nerves of steel or insomnia about your investments? We define your investment approach. Take the Related Premium Stories quiz

Investors highly value stocks with steadily increasing operating margins.  (Photo: Mint)

Top 5 Indian stocks with steadily increasing operating margins

The road ahead could be bumpy for LTTS investors in a challenging global macroeconomic climate.  (archive image)

L&T Tech’s FY24 revenue growth target looks ambitious

polycab1

Wire and cable biz to do the heavy lifting for Polycab India

Premium and luxury segments may continue to do well, however, affordable housing, which is relatively more sensitive to higher interest rates, may take some time to recover

Real estate companies on solid ground

Semiconductors are the backbone of everything from smartphones, computers, advanced medical equipment and transportation systems.  (Photo: Reuters)

Indian semiconductor dream: is it coming true?

Growth prospects for ICICI Prudential Life's APE look promising, aided by the diversification of the product mix with a focus on annuity and non-linked products and retail protection and channel mix.  (File photo: AP)

ICICI Prudential Life stumbles amid first-quarter woes; the recovery of premium growth is decisive

For Polycab, wires and cables are likely to drive sales and earnings growth in the near term.

Polycab shares rally in strong Q1

The financial data of the merged entity will be available starting from the second quarter

HDFC Bank must maintain the pace of deposit growth

Photo: iStock

The revenue conundrum on LTIMindtree

You really need to think carefully about this point before making any investment in a stock.  (Photo: iStock)

Olectra Greentech increases by 250% in 5 months. More earnings to come?

Explore Premium Catch all the business news, market news, breaking news events and latest news updates on Live Mint. Download the Mint News app to get daily market updates. More less Updated: July 03, 2023, 10:55 pm IST

Advertisements
Share This Article

It was Thursday night when we started to negotiate. Do we need to evacuate to the south or

It was Thursday night when we started to negotiate. Do we need

By Chicago

“Please go to a safer place. Your lives matter more than the news.” This is what a news a

“Please go to a safer place. Your lives matter more than the

By Chicago

“Botched” star @drdubrow took some time away from #BravoCon to fill us in on some of the h

“Botched” star @drdubrow took some time away from #BravoCon to fill us

By Chicago