The preliminary papers for an IPO to raise as much as Rs.525 crore have been filed by the jewellery retailer Senco Gold. The offer is a mix of fresh equity issuance of up to Rs. 325 crore and also is an offer for sale of equity of Rs. 200 crore ( through the sale of stake by SAIF Partners India IV Limited.
Senco Gold Files Paper For Rs. 525 Cr. IPO
Jewellery retailer Senco Gold Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 525 crore through an initial public offering (IPO).- SAIF Partners India IV Limited.
Additionally the company may mull upon a pre-IPO placement of shares of up to Rs. 65 crore and if the same is executed then the issue size shall be lowered down.
The proceeds garnered from the public issue will be used towards funding working capital needs as well as the other general corporate purposes.
IIFL Securities, Ambit and SBI Capital Markets are the book running lead managers to the IPO. The equity shares of the company are proposed to be listed on BSE and NSE.
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