Senco Gold raises Rs 459 crore via QIP, allots 40.8 lakh shares
Post the QIP, the company's paid-up equity share capital has increased to Rs 81.80 crore, comprising 8.18 crore shares, from Rs 77.72 crore.
)
Kolkata-based jewellery retail chain Senco Gold Limited said it raised Rs 459 crore through a Qualified Institutions Placement (QIP) by allotting 40.8 lakh equity shares.
The QIP committee of the company's board approved the issuance and allotment of equity shares of Rs 10 were issued at a price of Rs 1,125 per share, including a premium of Rs 1,115, Senco Gold said in a regulatory filing on Friday evening.
Post the QIP, the company's paid-up equity share capital has increased to Rs 81.80 crore, comprising 8.18 crore shares, from Rs 77.72 crore (7.77 crore shares), the company added.
Among the major allottees, four funds under Tata AIA Life Insurance Co. Grabbed 14.49 per cent of the issue size. On a standalone basis, Tata Multicap Fund received the largest portion with 8.77 per cent of the issue size, followed by Tata AIA Life Insurance Co. Ltd's Emerging Opportunities Fund (6.40 per cent) and ICICI Prudential Life Insurance Co. Ltd (6.54 per cent).
Other significant investors included BOFA Securities Europe SA (5.23 per cent), Bank of India Flexi Cap Fund (5.07 per cent), Carnelian Bharat Amritkaal Fund (5.01 per cent), and Bandhan Small Cap Fund (5.01 per cent).
The funds raised will help the jewellery chain to fuel its growth and expansion, with plans to add 18-20 stores a year, the statement added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
