Senco Gold Ltd is a company with a 30 years pedigree. The company was incorporated in the year 1994 as a pan-India jewellery retailer. The products are current sold under the brand name “Senco Gold & Diamonds.” Apart from gold and diamond jewellery, the company also sells jewellery made of silver and platinum, as well as precious and semi-precious stones embedded in it. It also offers costume jewellery, gold, and silver coins. Currently, Senco Gold Ltd offers over 108,000 designs for gold jewellery and over 46,000 designs for diamond jewellery. It has put in place a pan-Indian team of craftsmen to cater to varying regional and ethnic tastes in different parts of India.
Among its key offerings are Everlite (lightweight jewellery), Gossip (silver and fashion) and Aham (jewellery for men). Most of its models cater to the young and the upwardly mobile at an appropriate price tag. It has a segment catering to the mass demand for jewellery as well as the D’Signia and Vivaha collections for the creamier market in India. The company has over 136 showrooms spread across the length and breadth of India with total area coverage of 409,882 SFT. Around 70 showrooms are owned and operated by the company while 61 are franchisee showrooms. It caters to nearly 99 cities spread across 13 states in India. The issue will be lead managed by IIFL Securities, Ambit and SBI Capital Markets. KFIN Technologies Ltd will be the registrar to the issue.
Highlights of the IPO issue of Senco Gold Ltd
Senco Gold IPO will be a combination of a fresh issue and an offer for sale (OFS). The price band for the book built issue will be between ₹301 and ₹317. The shares have a face value of ₹10. The fresh issue will entail the issue of 85,17,350 shares, which at the upper end of the price band at ₹317 amounts to a fresh issue size of ₹270 crore. The offer for sale (OFS) component of the IPO will entail the issue of 42,58,675 shares, which at the upper end of the price band at ₹317 amounts to a total OFS size of ₹135 crore. Therefore, the total IPO of Senco Gold Ltd will entail the issue of 1,27,76,025 shares, which at the upper end of the price band at ₹317 amounts to a total IPO issue size of ₹405 crore.
The company was promoted by Suvankar Sen, Jai Hanuman Shri Siddhivinayak Trust and Om Gaan Ganapataye Bajrangbali Trust. Currently the promoters hold 76.92% of the company, which will get diluted post the IPO to 68.48%. The fresh portion of the IPO will be used for funding working capital requirements and for general corporate purposes. The minimum lot size for retail applications is 47 shares and retail investors can invest up to a maximum of 13 lots. Here is the detailed break up of lot sizes applicable to different categories.
