Senco Gold Limited has sought approval from market regulator SEBI for raising Rs 525 crore through Initial Public Offering (IPO).
Jewelery retailer Senco Gold Ltd has sought approval from market regulator SEBI to raise Rs 525 crore through initial public offering (IPO). Senco Gold has submitted preliminary documents related to the IPO with the Securities and Exchange Board of India (SEBI).
Jewelery retailing company Senco Gold Limited has made an initial public offering. ,IPO, Markets regulator SEBI to raise Rs 525 crore through (Sebi) Approval has been sought from. Senco Gold has submitted preliminary documents related to the IPO before the Securities and Exchange Board of India (SEBI). (Documents) have deposited. Accordingly, he will buy new equity shares worth Rs 325 crore. (Shares) Along with the issuance, also sale of shares worth Rs 200 crore held by existing shareholder SAIF Partners India. (Sale) Will do
Apart from this, the company also plans to allot equity shares worth Rs 65 crore before the IPO. This will reduce the size of the shares being issued for sale during the IPO.
Where will the money raised be used?
Senco will use Rs 240 crore from the IPO to meet its working capital requirements. At the same time, the remaining amount will be used for general company purposes.
Senco Gold has 127 outlets in 89 cities and towns across the country, out of which 57 are operated on the franchisee model.
Apart from this, let us tell you that recently big news has come out about LIC’s IPO. According to the information, before bringing the IPO, the government has shortlisted 50-60 anchor investors. These include veteran investors like BlackRock, Sands Capitals, Fidelty Investments, Standard Life, JP Morgan.
Anchor investors have put the valuation of Life Insurance Corporation at Rs 7 lakh crore to invest. According to media reports, there is an atmosphere of uncertainty in the market at present. This is the reason why the valuation of LIC has been lower than expected. At present, the final decision regarding this valuation is yet to be taken. May 12 is currently the deadline for IPO. The high level committee that has been constituted regarding this IPO has obtained information regarding valuation from anchor investors. High officials of the government are included in this committee. Discussions are being held with the merchant banker regarding this valuation.
The concerned official said that even though the government has shortlisted 50-60 anchor investors, 25 per cent of them can be taken out of the list.
(with language input)