Senco Gold collects over ₹121 crore from anchor investors ahead of IPO
₹121.5 crore from anchor investors ahead of its initial share sale. Senco Gold Limited has allotted 38,32,807 equity shares to 21 anchor investors and raised ₹ 121.50 crore ahead of company’s proposed IPO, the upper price band of ₹ 317 per equity share (including premium of ₹ 307 per equity shares) with face value of ₹10 per share.
The anchor was a well-diversified book, with focus on long only investors. Key marquee investors include Nippon MF, White Oak, Jupiter asset management, Bandhan MF, 3P India Equity Fund (Fund owned by Prashant Jain - 1st IPO investment by the fund), Max Life Insurance, Sundaram MF, Franklin Templeton MF.
BNP Paribas Arbitrage, Societe Generale, Elara India Opportunities Fund, 3P India Equity Fund 1, Nippon India Mutual Fund (MF), WhiteOak Capital MF, Sundaram MF, Bandhan MF, Jupiter India Fund and Max Life Insurance Company are among the anchor investors. Senco Gold's ₹405-crore Initial Public Offer (IPO) comprises a fresh issue of equity shares aggregating up to ₹270 crore and an offer-for-sale (OFS) of equity shares worth ₹135 crore by shareholder SAIF Partners India IV Ltd. At present, SAIF Partners has a 19.23 per cent stake in the jewellery retail chain.
The issue, with a price band of ₹301 to ₹317 apiece, will open for public subscription on July 4 and conclude on July 6. Of the ₹270 crore, the company proposes to use ₹196 crore of net proceeds from the fresh issue towards funding working capital requirements and the remaining for general corporate purposes. The Kolkata-based firm has 140 showrooms across 13 states and a total of 63 per cent of them are located in West Bengal. It also sells its products through various online platforms and undertakes wholesale exports of its
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