Senco Gold IPO | Review

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Senco Gold Limited has come up with an initial public offer (IPO). It will open on July 04-06, 2023 at Rs.301-317 a share. The IPO issue size is around Rs.405.00 crores. The minimum bid will be for 47 shares and in its multiples thereafter.

Overview

Senco Gold Limited was incorporated in the year 1994. It is a pan-India jewellery retail player with a history of more than five decades. It is the largest organised jewellery retail player in the eastern region of India based on a number of stores. The company primarily sells gold and diamond jewellery and also sells jewellery made of silver, platinum and precious and semi-precious stones and other metals. Moreover, it offers costume jewellery, gold and silver coins and utensils made of silver.

Senco Gold has 75 Company Operated Showrooms and 61 Franchisee Showrooms. It has a catalogue offering more than 120,000 designs for gold jewellery and more than 69,000 designs for diamond jewellery. As on March 31, 2023, the company has 136 showrooms in 96 cities and towns over 13 states across India.

Website – https://sencogoldanddiamonds.com/

Promoters

Suvankar Sen	Jai Hanuman Shri Siddhivinayak Trust
Om Gaan Ganpataye Bajrangbali Trust

Promoter Holding

Pre-Issue Shareholding – 76.92%

Post-Issue Shareholding – 68.48%

Strength & Weakness

Strengths	Weaknesses
Strong brand name	Significant competition in market
Legacy of over five decades	Requires significant working capital
Largest organised jewellery retail player	Require certain permits & licenses
Focus on light, affordable jewellery	Depends on skilled Karigars & designers
Established Systems and Procedures	Dependent on sale of gold jewellery
Experienced management team	Negative cash flows in the past

Products

Silver Jewellery	Diamond & Precious Stones
Fashion Jewellery	Platinum Jewellery
Fashion jewellery	Novelty & Accessories

Competitors

Kalyan Jewellers

Titan Company

Company Financials

Year	Revenue (in Crore)	Profit (in Crore)
31-Mar-2021	2,674.92	61.48
31-Mar-2022	3,547.41	129.10
31-Mar-2023	4,108.54	158.48

Objects of Issue

1. Funding working capital requirements of the Company;

2. General corporate purposes.

Senco Gold IPO Lot Size

Application	Lot	Shares	Amount
Retail (Min)	1	47	Rs.14,899
Retail (Max)	13	611	Rs.1,93,687
S-HNI (Min)	14	658	Rs.2,08,586
S-HNI (Max)	67	3,149	Rs.9,98,233
B-HNI (Min)	68	3,196	Rs.10,13,132

Senco Gold IPO Details

IPO Opening Date	July 04, 2023
IPO Closing Date	July 06, 2023
Face Value	Rs.10 per Equity Share
IPO Price	Rs.301-317 per share
Market Lot	47 shares
Minimum Order Quantity	47 shares
Listing At	NSE, BSE
Fresh Issue	Upto Rs.270.00 Crore
Offer for Sale	Upto Rs.135.00 Crore
Issue Size	Upto Rs.405.00 Crore
QIB Shares Offered	50% of the offer
Retail Shares Offered	35% of the offer
NII/HNI Shares Offered	15% of the offer

Senco Gold IPO Timetable

IPO Date	July 04-06, 2023
Allotment Date	July 11, 2023
Initiation of Refunds	July 12, 2023
Credit of share to Demat a/c	July 13, 2023
IPO Listing Date	July 14, 2023