Senco Gold announced that its board has approved the opening of issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 1,139.49 per share.
The company's board authorized and declared the opening of the issue on Wednesday, 11 December 2024.The floor price of Rs 1,139.49 is at a discount of 2.27% to the previous day's closing price of Rs 1,166 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue.
The issue price will be determined by the company in consultation with the bookrunning lead manager appointed for the issue.
Senco Gold is a jewellery retailer with a strong presence in India, particularly in the eastern region. Senco has over 164 showrooms (including 68 franchisee showroom) spread across India and one international showroom with a mix of own and franchisee model.
The companys consolidated net profit rose 1.4% to Rs 12.12 crore on 30.9% jump in net sales to Rs 1,500.49 crore in Q2 FY25 over Q2 FY24.
The scrip declined 0.04% to Rs 1,165.55 on the BSE.
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