Senco Gold has filed a fresh prospectus for an initial public offer.
The new offer of Rs 405 crore consists of a fresh issue of equity shares worth Rs 270 crore and an offer for sale of shares worth Rs 135 crore from selling shareholder SAIF Partners IV Limited.
In 2022, Senco Gold had filed a draft prospectus with plans to raise Rs 525 crore, which included a fresh issue of shares worth Rs 325 crore and an offer for sale worth Rs 200 crore from SAIF Partners IV Limited. Earlier in 2018, the company had filed a draft prospectus with plans to raise Rs 600 crore.
The current prospectus is within 12 months after Sebi issued its observation letter on July 5, 2022. The three-day IPO will open on July 4 and the bidding for anchor investors will open on July 3.
The company plans to use Rs 196 crore of the net proceeds from the fresh issue towards funding working capital requirements and the rest towards general corporate purposes.
As of March 31, 2023, Senco Gold has 136 showrooms (75 company-operated showrooms and 61 franchisee showrooms) with a total area of approximately 409,882 sq ft in 96 cities and towns across 13 states in India.
The company also sells products through various online platforms, including its own website. It also undertakes wholesale exports primarily to Dubai, Malaysia and Singapore.
