Retail jewellery major Senco Gold on Monday said the company raised Rs 121.5 crore from 21 anchor investors at the upper price band of Rs 317 per share ahead of the launch of its public offer on Tuesday.
The key marquee investors include Nippon MF, White Oak, Jupiter AMC, Bandhan MF, 3P India Equity Fund, Max Life Insurance, Sundaram MF and Franklin Templeton MF.
“The IPO committee of the company in their meeting held on Monday, in consultation with IIFL Securities Limited, Ambit Private Limited and SBI Capital Markets Limited, have finalised the allocation of 38,32,807 equity shares to anchor investors at the anchor investor allocation price of Rs 317 per equity shares,” Senco Gold said in the exchange filing.
The company has fixed a price band of Rs 301-317 per equity share of face value Rs 10 each for its public offer, which closes on July 6.
The company is looking to raise Rs 405 crore from its IPO. The company plans to use Rs 196 crore towards funding working capital requirements out of the net proceeds.
The company’s management on Monday said it will continue expanding in the eastern and northern markets by leveraging its brand strength.
“Our expansion will continue to focus on East and North India. Where we are strong, we have to keep penetrating and maximising the brand presence,” said Suvankar Sen, managing director, Senco Gold Limited.
