Senco Gold aims to raise ₹600 cr. via public issue
Senco Gold Ltd. (SGL), one of the larger organised jewellery retail players, has filed a DRHP with the SEBI for an Initial Public Offering (IPO) comprising equity shares aggregating up to ₹600 crore. SGL plans to utilise the funds for financing new company-operated showrooms and working capital requirements. IDFC Bank Limited, ICICI Securities Limited, IIFL Holdings Limited, Emkay Global Financial Services Limited and YES Securities (India) Limited are the book running lead managers and Karvy Computershare Private Limited is the registrar. The equity shares will be listed on BSE and NSE. SGL has 93 showrooms in 72 cities and towns. The firm sells mainly gold and diamond jewellery.
SGL also markets its products through franchised showrooms, adding 14 such outlets between 2013-14 and 2017-18.
SGL has 48 company-operated showrooms and 45 franchise showrooms. While 60 showrooms are in West Bengal; six in Uttar Pradesh; five in Odisha; four in Jharkhand; three each in Karnataka, Maharashtra and Assam; two each in Delhi and Bihar; and one each in Telangana, Chhattisgarh, Haryana, Madhya Pradesh and Tripura.
