Senco Gold IPO Analysis: As pubic issue sails through, here are some interesting facts about the company
₹405 crore. The IPO has already been fully subscribed on the second day itself led by strong demand from retail as well as non-institutional investors.
The company is selling shares at a price band of ₹301-317 apiece in the IPO, which will conclude on July 6. At the upper end of the band, the IPO will value the jewellery retail chain Senco Gold at ₹2,462 crore.
Incorporated in 1994, Senco Gold is the largest organized jewellery retail player in the eastern region of India based on number of stores and among eastern India based jewellery retailers, the company has the widest geographical footprint in non-eastern states. The ₹405-crore Senco Gold IPO consists of a fresh issue of shares worth ₹270 crore and an offer for sale (OFS) of shares worth up to ₹135 crore by selling shareholder SAIF Partners India IV Ltd. Here are some interesting facts about Senco Gold Ltd and Senco Gold IPO from the company’s red-herring prospectus.
Also Read: PKH Ventures withdraws IPO amid tepid demand The company sells its products under the “Senco Gold & Diamonds" tradename, through multiple channels, including their 70 company operated showrooms and 57 franchisee showrooms currently, and various online platforms. The company primarily sells gold and diamond jewellery and sells jewellery made of silver, platinum, precious, and semi-precious stones and other metals.
As on March 31, 2023, they have 136 showrooms in 96 cities and towns over 13 states across India. The company’s past financial performance is robust as its revenue and profit after tax has grown by 24% and 61% in terms of two year CAGR respectively. In FY23, Senco Gold reported a net profit of ₹158.48 crore as compared to ₹129.10 crore in the previous year. Its revenue during the
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