Senco Gold files fresh draft papers to raise Rs 525 crore IPO
- ByStartupStory | April 16, 2022
Senco Gold Ltd, a jeweler, has submitted new draft papers to the Securities and Exchange Board of India (Sebi) for a 525-crore initial public offering (IPO).
The gold jewelry store had previously put its fund-raising ambitions on hold after filing a draft prospectus with the Securities and Exchange Board of India (Sebi) in August 2018. According to the documents, the planned IPO includes a fresh issue of up to 325 crore shares and an offer for sale of up to 200 crores by SAIF Partners India IV Ltd.
The company, which was founded in Kolkata in 1994, sells gold, diamond, silver, and platinum jewelry, as well as semi-precious and precious stones. According to the company’s website, it caters to men, women, and children and offers a range of plans for clients to purchase its items.
It has 127 showrooms with a total space of 393,342 square feet spread over 89 cities in 13 states. The company claims that some of its franchisee showrooms are located in places other than metros and tier-I, giving it a broader reach in tier-2 and tier-3 areas.
Revenue from operations increased at a 9.92 percent compound annual growth rate (CAGR) from 2,420 crores on March 31, 2020, to 2,660 crores on March 31, 2021. On a consolidated basis, its operating revenue for the eight months ended 30 November 2021 was 2,467 crore, with a profit of more than 100 crores.
Follow Startup Story
Related Posts
