Public Market

IPO

Jewellery retailer Senco Gold files to raise Rs.525-Cr

Business Line  

Senco Gold has filed a draft red herring prospectus with capital markets regulator the Securities and Exchange Board of India (Sebi) to raise INR 525 crore through an initial public offering (IPO). The IPO of Senco Gold comprises fresh issue of equity shares aggregating INR 325 crore and an offer for sale of equity shares aggregating INR 200 crore by selling shareholder SAIF Partners India IV. The company proposes to use INR 240 crore of the net proceeds from the issue towards funding working capital requirements and the rest towards general corporate purposes. The book running lead managers to the offer are IIFL Securities, Ambit Private and SBI Capital Markets. Senco Gold currently has 127 showrooms (70 company operated showrooms and 57 franchisee) in 89 cities and towns across 13 states in India. The company has recently signed a pact with Oman India Joint Investment Fund Trustee Company for an aggregate subscription of shares for INR 75 crore.