IIFL Securities, Ambit Pvt Ltd and SBI Capital Hall IPO Book Running Lead Manager
Senko Gold IPO:SAIF has submitted draft documents to SEBI to raise Rs 525 crore from the market through partner-invested Senco Gold IPO. The jewelry company’s IPO will be a combination of fresh issues and offers for sale. The share of fresh issue in IPO will be Rs 325 crore and the share of fresh issue in offer for sale will be Rs 200 crore.
Where will the IPO money be used?
Of the money raised from the IPO, Rs 240 crore will be used to meet the working capital requirements of the company. As of January 31, 2022, the total authorized limit for Senco Gold’s working capital loan facility was Rs 1,183 crore and the company’s total outstanding debt was Rs 792.10 crore. IIFL Securities, Ambit Pvt Ltd and SBI Capital are the book running lead managers of this IPO.
What the company does
Senco Gold Hall is the largest organized sector retail jewelery company in East India based on the number of stores. Senco Gold sells gold-silver and diamond jewelry, as well as jewelry made of platinum and other metals. The company’s products are sold under the trade name “Senko Gold and Diamonds”.
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How big is the business of the company
Senco Gold currently has 127 showrooms. These cover an area of about 393,342 square feet. The company’s stores are located in 89 cities and towns in 13 states of the country. Some of the company’s franchise showrooms are also located in smaller cities outside of Metro and Tier 1, which is why the company has good penetration in Tier 2 and Tier 3 cities as well.
How was the performance of the company?
The company had a total revenue of Rs 2,660.04 crore as against Rs 2,420.34 crore in FY 2021. In FY 2021, the company had a net profit of Rs 61.48 crore. Where the company’s profit in the fiscal year 2020 was 90.93 crore.
