Senco Gold IPO: People willing to invest in the stock market have a chance to earn once again. Now Senco Gold Limited, a company that sells jewelery in retail, is going to bring its IPO. For this the company has submitted papers with SEBI.
Senco Gold IPO: If you are also planning to invest in the stock market, then this news is for you. Jewelery seller Senco Gold Ltd. has sought approval from market regulator SEBI to raise Rs 525 crore through an initial public offering (IPO).
Documents submitted to SEBI
Senco Gold Ltd. has submitted preliminary documents related to the IPO with the Securities and Exchange Board of India (SEBI). Accordingly, it will issue fresh equity shares worth Rs 325 crore as well as sell shares of Rs 200 crore held by existing shareholder SAIF Partners India.
What will the company do with the money?
The company also plans to allot equity shares worth Rs 65 crore before the IPO. This will reduce the size of the shares being issued for sale during the IPO. Senco will use Rs 240 crore from the IPO to meet its working capital requirements.
About Senko Gold
The rest of the amount will be used for general company purposes. Senko Gold has 127 stores in 89 cities and towns across the country. Of these, 57 are being operated on the franchisee model. According to DRHP, some franchise showrooms are present in areas other than metro and tier-1 cities. The company’s business is spread in Tier-2 and Tier-3 cities.
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