The IPO comprises fresh issue of equity shares aggregating up to Rs 325 crore and an offer for sale of equity shares aggregating up to Rs 200 crore by selling shareholder SAIF Partners India IV Limited.
The company proposes to utilise Rs 240 crore of net proceeds from the fresh issue towards funding working capital requirements and the rest towards general corporate purposes.
Besides, the company may consider a pre-IPO placement of equity shares aggregating up to Rs 65 crore. If the pre-IPO placement is undertaken, the amount raised from the pre-IPO placement will be reduced from the fresh Issue.
According to a Crisil report, Kolkata-headquartered Senco Gold Limited, which operates under the tradename Senco Gold & Diamonds, is the largest organised jewellery retailer in the eastern region of India based on the number of stores. Among eastern India based jewellery retailers, it has the widest geographical footprint in non-eastern states.
The company recently entered into a share subscription with Oman India Joint Investment Fund Trustee Company Private Limited, the trustee of Oman India Joint Investment Fund II for the issue and subscription of 26,63,541 equity shares for an aggregate consideration of Rs 75 crore. The book running lead managers to the offer are IIFL Securities Limited, Ambit Private Limited and SBI Capital Markets limited.
The equity shares are proposed to be listed on the BSE and NSE.
The company’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 revenue from operations was Rs 2,467 crore for the eight months ended November 30, 2021, on a consolidated basis while profit in this period crossed Rs 100 crore.
Senco Gold has 127 showrooms, 70 company operated showrooms and 57 franchisee showrooms.
