Senco Gold files DRHP with Sebi

The equity shares will be listed on the BSE and the NSE.

Aug 21, 2018 11:08 IST India Infoline News Service

Senco Gold Ltd, the largest organized jewelry retail player in eastern India, has filed a draft red herring prospectus (DRHP) with Sebi, as per a CRISIL report.

The Initial Public Offering (IPO) comprises equity shares aggregating up to Rs600cr of Senco Gold.

The company proposes to utilize the net proceeds raised through the fresh issue for: (i) Financing the establishment of new company-operated showrooms; (ii) Funding the working capital requirements of the company; and (iii) General corporate purposes.

IDFC Bank Ltd, ICICI Securities Ltd, IIFL Holdings Ltd, Emkay Global Financial Services Ltd, and YES Securities (India) Ltd are the book running lead managers.

The equity shares will be listed on the BSE and the NSE.

The company is primarily engaged in selling gold and diamond jewelry, but also sells jewelry made of silver, platinum, as well as precious and semi-precious stones and metals. SGL’s other offerings include costume jewelry, gold/silver coins, and silver utensils. Presently, SGL has 93 showrooms, which have a total area of approximately 255,284 sq. ft., across 72 cities and towns. As of June 30, 2018, it had 1,290 employees.

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