MUMBAI :
Jewelry retailer Senco Gold Ltd has filed contemporary draft papers with the Securities and Alternate Board of India (Sebi) for a ₹525-crore preliminary public providing (IPO).
Earlier, the gold jewelry retailer had shelved its fund-raising plans after submitting a draft prospectus with Sebi in August 2018. The proposed IPO includes a contemporary concern of shares of as much as ₹325 crore and a suggestion on the market of as much as ₹200 crore by SAIF Companions India IV Ltd, the filings confirmed.
The proceeds of the IPO can be used to satisfy working capital necessities and broaden its retailer rely, in addition to basic company functions.
The corporate might contemplate a pre-IPO placement of shares of as much as ₹65 crore and If it goes via, it would carry down its contemporary concern measurement by the quantity raised, Senco stated.
Included in Kolkata in 1994, the corporate sells gold, diamond, silver, and platinum jewelry, in addition to semi-precious and treasured stones. It caters to males, ladies, and youngsters and provides quite a lot of schemes to prospects to purchase its merchandise, in keeping with the corporate’s web site.
It operates 127 showrooms with a complete space of roughly 393,342 sq. ft throughout 89 cities in 13 states.
Income from operations grew at a CAGR of 9.92% from ₹2,420 crore on 31 March 2020 to ₹2,660 crore on 31 March 2021. Its working income for the eight months ended 30 November 2021 was ₹2,467 crore on a consolidated foundation and revenue was greater than ₹100 crore.
Supply: Live Mint