Senco Gold Ltd, the largest prepared jewelry retail player in eastern India, has filed a draft red herring prospectus (DRHP) with Sebi, as according to a CRISIL report. The initial Public offering (IPO) contains equity stocks aggregating up to Rs 600cr of Senco Gold.

The company proposes to utilize the net proceeds raised thru the fresh issue for: (i) Financing the establishment of recent agency-operated showrooms; (ii) investment the working capital necessities of the business enterprise; and (iii) standard company purposes.

IDFC financial institution Ltd, ICICI Securities Ltd, IIFL Holdings Ltd, Emkay global economic services Ltd, and YES Securities (India) Ltd are the Book running lead managers. The equity shares can be indexed on the BSE and the NSE.

The company is broadly engaged in selling gold and diamond rings, however additionally sells jewelry fabricated from silver, platinum, as well as valuable and semi-valuable stones and metals. SGL’s different services include costume jewelry, gold/silver cash, and silver utensils. Presently, SGL has 93 showrooms, that have a complete location of approximately 255,284 sq.ft., across 72 cities and towns. As of June 30, 2018, it had 1,290 employees.

Senco Gold Ltd IPO News, Date, Listing Details

Company Promoters: Sankar Sen, Suvankar Sen, Jai Hanuman Shri Siddhivinayak Trust, Om Gaan Ganpataye Bajrangbali Trust

IPO Open: 2018

IPO Close: 2018

IPO Size: Approx. Rs. 600 Crore (Approx)

Face Value: Rs. 10 Per Equity Share

Listing On: BSE, NSE

Retail Portion: 35%

IPO Registrar: Karvy Computershare Private Limited

IPO Lead Managers: IDFC Bank Limited, ICICI Securities Limited, IIFL Holdings Limited, Emkay Global Financial Services Limited, YES Securities (India) Limited