SENCO GOLD TO FILE PAPERS FOR RS 400 CRORE IPO
25th June 2023
The IPO proceeds will be used to expand the company’s presence in north India, and to expand its high-margin diamond jewellery business. The company clocked Rs 4,075.56 crore in FY22-23, a jump of 15 percent over the year prior.
Rs 265 crore of the Rs 400- crore IPO will be a fresh issue, and Rs 135 crore is expected to be an Offer For Sale (OFS)
For the third time, Senco Gold will file papers with the capital markets regulator, the Securities and Exchange Board of India (SEBI), for an initial public offering (IPO) worth Rs 400 crore.
The stock shall be listed on the NSE and the BSE. Rs 265 crore of the Rs 400- crore IPO will be a fresh issue, and Rs 135 crore is expected to be an Offer For Sale (OFS). An OFS is when promoters sell their shares and reduce their holdings in a transparent manner through the bidding platform for the Exchange.
The offer proceeds will be used to fund working capital requirements, expand the company’s presence in north India, and to grow the diamond jewellery business.
