 "IPO")
Jewellery retailer Senco Gold’s initial public offering (IPO) saw subscription of 73 times. The Rs 405-crore offering garnered bids worth over Rs 20,000 crore. The institutional investor portion of the issue was subscribed 181 times and the retail category saw 15 times more than the demand for the shares on offer.
The two sub-categories for high net worth individuals (HNI) too saw huge oversubscription. Earlier this week, construction firm PKH Ventures had to withdraw its share sale due to inadequate demand even as that of Senco, Ideaforge and Cyient DLM have seen frenzied bidding.
Through the IPO, Senco issued new shares worth Rs 270 crore, the remaining was secondary share sale. The company — run by fourth-generation entrepreneurs— is the largest organised jewellery retail player in the eastern region of India in terms of number of stores.
It operated 75 company showrooms and 61 franchisee showrooms as of March 2023. In FY23, the company posted net profit of Rs 159 crore on revenues of Rs 4,077 crore. The price bad for the IPO was set at Rs 301-317 per share. At the top-end, Senco is valued at Rs 2,462 crore on a post-dilution basis.
The two sub-categories for high net worth individuals (HNI) too saw huge oversubscription. Earlier this week, construction firm PKH Ventures had to withdraw its share sale due to inadequate demand even as that of Senco, Ideaforge and Cyient DLM have seen frenzied bidding.
Through the IPO, Senco issued new shares worth Rs 270 crore, the remaining was secondary share sale. The company — run by fourth-generation entrepreneurs— is the largest organised jewellery retail player in the eastern region of India in terms of number of stores.
It operated 75 company showrooms and 61 franchisee showrooms as of March 2023. In FY23, the company posted net profit of Rs 159 crore on revenues of Rs 4,077 crore. The price bad for the IPO was set at Rs 301-317 per share. At the top-end, Senco is valued at Rs 2,462 crore on a post-dilution basis.
