Kolkata-based jewellery retail chain Senco Gold Limited said it raised Rs 459 crore through a Qualified Institutions Placement (QIP) by allotting 40.8 lakh equity shares. The QIP committee of the company's board approved the issuance and allotment of equity shares of Rs 10 were issued at a price of Rs 1,125 per share, including a premium of Rs 1,115, Senco Gold said in a regulatory filing on Friday evening. Post the QIP, the company's paid-up equity share capital has increased to Rs 81.80 crore, comprising 8.18 crore shares, from Rs 77.72 crore (7.77 crore shares), the company added. Among the major allottees, four funds under Tata AIA Life Insurance Co. grabbed 14.49 per cent of the issue size. On a standalone basis, Tata Multicap Fund received the largest portion with 8.77 per cent of the issue size, followed by Tata AIA Life Insurance Co. Ltd's Emerging Opportunities Fund (6.40 per cent) and ICICI Prudential Life Insurance Co. Ltd (6.54 per cent). Other significant investors ...
Senco Gold's retail growth for Q2FY25 was up 27 per cent Y-o-Y as per filing
Senco Gold shares rose today after its board, on Friday, approved a fundraising plan via QIP worth Rs 500 crore
Senco Gold share: Currently, the stock of the gems and jewellery company is trading 387 per cent higher than the Senco Gold IPO issue price
Oman India Joint Investment Fund II offloaded over 0.5 million shares, while ICICI Pru bought over 0.4 million shares in the company
The industry tailwinds are expected to benefit the organised jewellery retailers like Senco over the medium term, supported by its expanding retail presence.
Stocks like PC Jeweller, TBZ, Kalyan Jewellers and Senco Gold can potentially rally up to 27% from current levels, suggest technical charts.
Senco Gold Ltd reported a net profit of Rs 51.27 crore for the first quarter of the current fiscal (April-June 2024), marking an 85.4 per cent increase on the back of higher revenue. The Kolkata-based gold and diamond jewellery chain saw a 7.5 per cent year-on-year growth in consolidated revenue, reaching Rs 1,403.89 crore for the quarter ended June 30. The company's EBITDA surged by 61.8 per cent to Rs 108.74 crore during the quarter, the company informed bourses. The jewellery retailer expanded its footprint by opening six new showrooms, bringing its total count to 165, including one in Dubai. Retail sales grew 9.6 per cent year-on-year, while same-store sales growth stood at 4 per cent. Senco Gold MD and CEO Suvankar Sen said, To enhance domestic value addition in gold and precious metal jewellery, the government of India has reduced customs duties on gold and silver to 6 per cent, and on platinum to 6.4 per cent from the earlier 15 per cent." He said, "This reduction is expect
Shares of Senco Gold have yielded a return of 55.39 per cent year-to-date, according to BSE analytics
India Budget news 2024: Customs duty on gold and silver has been reduced to 6% which may lead to a decline in domestic prices and perhaps lift demand
An average Indian couple spends around 2x on weddings versus education (pre-primary to graduation), according to the Jefferies note, which is in sharp contrast to countries such as the United States