Jewellery retailer Senco Gold Ltd has filed preliminary papers with capital markets regulator Sebi to lift Rs 525 crore via an preliminary public providing (IPO).
The IPO includes recent situation of fairness shares aggregating as much as Rs 325 crore and a suggestion on the market (OFS) of fairness shares to the tune of Rs 200 crore by promoting shareholder – SAIF Partners India IV Limited.
Besides, the corporate might contemplate a pre-IPO placement of fairness shares aggregating as much as Rs 65 crore. If such placement is undertaken, the recent situation measurement might be decreased.
The firm proposes to utilise Rs 240 crore of web proceeds from the recent situation in the direction of funding working capital necessities and relaxation in the direction of common company functions.
At current, Senco Gold has 127 showrooms — 70 company-operated and 57 franchisee — in 89 cities and cities throughout 13 states in India. Some of its franchisee showrooms are situated in areas aside from metros and tier-I, offering a better attain in tier-2 and tier-3 places.
The firm additionally sells merchandise via numerous on-line platforms. It additionally undertakes wholesale exports of its jewelry primarily to Dubai, Malaysia and Singapore.
Its income from operations grew at a CAGR of 9.92 per cent from Rs 2,420 crore as of March 31, 2020 to Rs 2,660 crore as of March 31 2021.
The firm has lately entered right 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 problem and subscription of 26.63 lakh fairness shares for an mixture consideration of Rs 75 crore.