Senco Gold's IPO opens for subscription on July 4: Check out issue size, price band, and other key details

Senco Gold IPO: The initial public offering (IPO) of jewellery retail player Senco Gold will open for subscription on July 4, 2023. The subscription window will close on July 6.

The company proposes to use Rs 196 crore of the net proceeds from the fresh issue towards funding working capital requirements and the remaining for general corporate purposes. The Kolkata-based firm has 127 showrooms—70 company-operated and 57 franchisees—in 89 cities and towns across 13 states in India.

IIFL Securities Ltd., Ambit Private Ltd., and SBI Capital Markets Ltd. are the book-running lead managers for the issue.

Senco Gold IPO: price band 

The company has fixed the price band at Rs 301 to Rs 317 per share.

The IPO comprises a fresh issue of equity shares aggregating up to Rs 270 crore and an offer-for-sale (OFS) of equity shares to the tune of Rs 135 crore by the selling shareholder, SAIF Partners India IV Ltd. At present, SAIF Partners has a 19.23 per cent stake in the jewellery retail chain.

Senco Gold IPO: allotment date and link 

Shares of the company will be allotted tentatively on July 11, 2023. The official registrar for the IPO is Kfin Technologies Limited.

Senco Gold IPO: listing date 

Shares of Senco Gold are expected to be listed on the BSE and NSE on July 14.

About Senco Gold 

Senco Gold and Diamonds is a brand owned by Senco Gold Limited (‘the Company’) with a legacy of over five decades, as per the company's website.  It operates as a jewellery store and offers gold and diamond jewellery, including earrings, necklaces, bangles, coins, bars, pendants, rings, bracelets, and chains, as well as gold coins. Senco Gold serves customers in India.

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