senco gold: Senco Gold files DRHP with Sebi for Rs 525-crore IPO

Kolkata: Senco Gold, a pan-India jewelry retailer, has filed a draft pink herring prospectus with the Securities and Change Board of India to lift Rs 525 crore by means of an preliminary public providing (IPO).

The IPO includes recent problem of fairness shares aggregating as much as Rs 325 crore and a proposal on the market of fairness shares aggregating as much as Rs 200 crore by promoting shareholder SAIF Companions India IV Restricted.

The corporate proposes to utilise Rs 240 crore of web proceeds from the recent problem in direction of funding working capital necessities and the remainder in direction of normal company functions.

Moreover, the corporate might think about a pre-IPO placement of fairness shares aggregating as much as Rs 65 crore. If the pre-IPO placement is undertaken, the quantity raised from the pre-IPO placement will likely be decreased from the recent Concern.

In line with a Crisil report, Kolkata-headquartered Senco Gold Restricted, which operates underneath the tradename Senco Gold & Diamonds, is the biggest organised jewelry retailer within the japanese area of India primarily based on the variety of shops. Amongst japanese India primarily based jewelry retailers, it has the widest geographical footprint in non-eastern states.

The corporate just lately entered right into a share subscription with Oman India Joint Funding Fund Trustee Firm Personal Restricted, the trustee of Oman India Joint Funding Fund II for the problem and subscription of 26,63,541 fairness shares for an combination consideration of Rs 75 crore. The guide operating lead managers to the supply are IIFL Securities Restricted, Ambit Personal Restricted and SBI Capital Markets restricted.

The fairness shares are proposed to be listed on the BSE and NSE.

The corporate’s venue from operations grew at a CAGR of 9.92% from Rs 2,420 crore as of March 31, 2020, to Rs 2,660 crore as of March 31 2021. The income from operations was Rs 2,467 crore for the eight months ended November 30, 2021, on a consolidated foundation whereas revenue on this interval crossed Rs 100 crore.

Senco Gold has 127 showrooms, 70 firm operated showrooms and 57 franchisee showrooms.