Senco Gold, jewellery retail player in the eastern region, has filed its draft red herring prospectus (DRHP) with SEBI on August 20, 2018 to float its IPO. The IPO (initial public offering) comprises equity shares of Senco Gold Limited aggregating up to Rs 600 crore.
The company proposes to utilise the net proceeds raised through the fresh Issue for funding the upcoming company operated Showrooms, to meet working capital requirements and for other corporate purpose.
IDFC Bank Limited, ICICI Securities Limited, IIFL Holdings Limited, Emkay Global Financial Services Limited and YES Securities (India) Limited are the book running lead managers and Karvy Computershare Private Limited is the registrar. The equity shares will be listed on BSE and NSE.
Presently, SGL has 93 showrooms in 72 cities and towns. As at June 30, 2018, we had 1,290 employees.
While a majority of showrooms, selling products under the “Senco Gold & Diamonds” trade names, are company operated showrooms, they also market products through franchised showrooms allowing for an asset light model aimed at minimising capital expenditure. As on the date of this Draft Red Herring Prospectus, SGL have 48 company operated showrooms and 45 franchise showrooms. Of our total of 93 showrooms, 60 are in West Bengal; six are in Uttar Pradesh; five are in Odisha; four are in Jharkhand; three each in Karnataka, Maharashtra and Assam; two each in Delhi and Bihar; and one each in Telangana, Chhattisgarh, Haryana, Madhya Pradesh and Tripura.
Courtesy: Economic Times
