Senco Gold Diamonds, a renowned jewellery company based in Kolkata, is all set to launch its Initial Public Offering (IPO), bringing good news for investors seeking opportunities in the stock market.
The IPO subscription for Senco Gold Diamonds will commence on July 4, 2023, and conclude on July 6, allowing investors a three-day window to participate.
Price Band and Offer Details
Senco Gold Diamonds has fixed the price band for its IPO at Rs 301 to 317 per share. The company plans to issue new shares worth Rs 270 crore, while its shareholder, Saif Partners India-4 Limited, will also offer shares for sale (OFS) worth Rs 135 crore.
Investment Details
To purchase shares in Senco Gold Diamonds, investors will need to allocate approximately Rs 14,147. Each lot size will consist of 47 shares.
CEO’s Statement
Suvankar Sen, the Managing Director and CEO of Senco Gold Diamonds, announced that SAIF Partners currently holds a 19.23 percent stake in the retail jewellery chain and plans to sell 8-9 percent of its stake through the IPO.
Lead Managers
IIFL Securities, Ambit, and SBI Capital Markets have been appointed as the book running lead managers for the IPO.
Listing and Allotment Dates
The company aims to complete the allotment process by July 11, with the listing of its shares scheduled for July 14.
Company Overview
Senco Gold Diamonds operates 140 showrooms across 13 states in India. Out of the Rs 270 crore raised through the IPO, approximately Rs 196 crore will be utilized to meet the company’s working capital requirements, while the remaining funds will be allocated for general corporate purposes.
West Bengal alone accounts for 63 percent of the company’s showrooms, reflecting its strong presence in the region.
