Jewelery maker Senco Gold will file for an initial public offering (IPO) with the capital markets regulator, the Securities and Exchange Board of India (SEBI). ₹400 crores. This is the third time the company has filed its IPO.
Jewelery maker Senco Gold will file for an initial public offering (IPO) with the capital markets regulator, the Securities and Exchange Board of India (SEBI). ₹400 crores. This is the third time the company has filed its IPO.
The shares will be listed on the NSE and the BSE, Moneycontrol reported.
The shares will be listed on the NSE and the BSE, Moneycontrol reported.
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The 400 core IPO will consist of ₹265 crore will be a new edition, and ₹135 crore is expected to be a Offer to Sell (OFS).
Proceeds from the offering are to be used to fund working capital needs, expand the company’s presence in northern India and grow its diamond jewelry business, Moneycontrol reported.
According to the report, about 85 percent of the company’s sales come from gold jewelry and about 10 percent from diamond jewelry.
Senco Gold is a Kolkata-based jeweler and one of the largest players in East India. The company operates 75 owned stores and 61 through franchisees in 96 cities in 13 states and union territories.
The company has attempted to raise funds through the IPO twice in the past. In 2022, Senco Gold filed with SEBI for an IPO ₹525 crore and in 2018 for ₹600 crores.
In FY22–23, revenue from operations amounted to ₹4,075.56 crore compared to ₹3,534.64 crore in the previous financial year. Meanwhile, after-tax profits rose ₹160.91 crore from ₹130.15 crores.
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