Mumbai Jewelery retailer Senco Gold Limited has filed fresh draft papers with the Securities and Exchange Board of India (SEBI). Initial Public Offering (IPO) of 525 crores.
Before that, gold jewelery retailer In August 2018, it had shelved its fund-raising plans after filing a draft prospectus with Sebi. The proposed IPO involves a fresh issue of shares up to a maximum of Rs. 325 cr and offer for sale 200 crore by SAIF Partners India IV Ltd, the filing showed.
income of IPO Apart from general corporate purposes, will be used to meet working capital requirements and expand its store count.
The company may consider a Pre-IPO Placement of shares up to 65 crores and if it is done, it will reduce the size of its fresh issue from the amount raised, Senco said.
Established in Kolkata in 1994, the company sells gold, diamond, silver and platinum jewelery as well as semi-precious and precious stones. According to the company’s website, it caters to the needs of men, women and children and offers a variety of plans for customers to buy their products.
It operates 127 showrooms in 89 cities across 13 states with a total area of approximately 393,342 sq ft.
Revenue from Operations grew at a CAGR of 9.92% 2,420 crore as on 31 March 2020 2,660 crore as on 31 March 2021. Its operating revenue for the eight months ended 30 November 2021 was 2,467 crore on a consolidated basis and profit was more than 100 crores.