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Senco Gold IPO GMP, Price, Dates & Allotment Details 2023

Senco Gold IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Senco Gold IPO will open on July 4 and close on July 6, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 405 crores through this public issue.

Senco Gold Limited (“the Company”)

Senco Gold Limited was incorporated in 1994. This is the largest organized jewelry retail player in the eastern region of India based on the number of stores, and among eastern India-based jewelry retailers, they have the widest geographical footprint in non-eastern states (Source: CRISIL Report). The company primarily sells gold and diamond jewelry and jewelry made of silver, platinum, precious and semi-precious stones, and other metals. Its products are sold under the “Senco Gold & Diamonds” trade name through multiple channels, including Showrooms and online platforms.

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. Funding working capital requirements of the company, and
  2. General corporate purposes.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Total Assets2,9052,1001,559
Reserve & Surplus876659537
Total Revenue4,1093,5472,675
Profit After Tax15812961
(Amount in ₹ Crore)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ 301 to ₹ 317 per share
Face Value₹ 10 per share
Market Lot47 Shares
Issue Size[.] shares (aggregating up to ₹ 405 crores)
Fresh Issue[.] shares (aggregating up to ₹ 270 crores)
Offer for Sale[.] shares (aggregating up to ₹ 135 crores)
Listing AtNSE, BSE
Company PromotersMr Suvankar Sen, Jai Hanuman Shri Siddhivinayak Trust,
and Om Gaan Ganpataye Bajrangbali Trust

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net offer
NII (HNI) shares offeredNot less than 15% of the offer
Retail shares offeredNot less than 35% of the offer

GMP: Senco Gold IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Senco Gold IPO

The issue opens for subscription on July 4, 2023, and closes for subscription on July 6, 2023 (both days inclusive). The basis of allotment will be finalised on July 11, 2023, and the refunds will be initiated on July 12, 2023. In addition, the demat credits are expected to happen on July 13, 2023, and the stock will be listed on the NSE and BSE on July 14, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateJuly 4, 2023,
Closing DateJuly 6, 2023
Basis of AllotmentJuly 11, 2023
Initiation of RefundsJuly 12, 2023
A credit of shares to Demat A/cJuly 13, 2023
Listing DateJuly 14, 2023

Lot Size

The lot size of the Senco Gold IPO is 47 shares. A retail-individual investor can apply for up to 13 lots, i.e. 611 shares of ₹ 193,687.

ApplicationsLotsSharesAmount 
Retail (Minimum)147₹ 14,899
Retail (Maximum)13611₹ 193,687
S-HNI (Minimum)14658₹ 208,586
S-HNI (Maximum)673,149₹ 998,233
B-HNI (Minimum)683,196₹1,013,132

Promoters Holdings 

Pre-issue Shares Holdings76.92%
Post-issue Shares Holdings68.48%

SWOT Analysis

STRENGTHSWEAKNESSES
1. A more comprehensive presence through many retail stores reduces geographical concentration and can cater to diverse consumers.
2. Better quality perception and customer trust as organized jewelers sell hallmarked jewelry and certified diamonds.
3. Stronger brand recall among consumers owing to higher investment in brands
4. The availability of various designs and the launch of new collections allow organised jewelers to cater to evolving customer needs.
5. A higher share of diamond-studded jewellery, which provides higher gross margins than gold jewelry,
6. A better balance sheet and profitability than most unorganized jewelers
1. Highly working capital-intensive operations
2. High competition from pan-India jewelry chains, regional players, and standalone stores.
3. Limited pricing power, albeit higher than unorganized players, owing to the commoditized nature of gold.
4. A limited understanding of consumer preferences can make it difficult to compete with unorganised local players when expanding into a new market.
OPPORTUNITIESTHREATS
1. The shift in consumer demand from unorganized to organized jewelers.
2. Increasing consumer preference for diverse designs, lightweight jewelry, and diamonds, which are organized jewelers’ forte.
3. Increasing affordability, a rising number of working women, and growing urbanization can lead to higher consumption of gold jewelry.
4. Favorable regulatory changes such as the implementation of GST, the clampdown on unaccounted money, and mandatory hallmarking are reducing the advantages enjoyed by the unorganized segment and hastening the shift in demand towards the organized segment.
1. Potentially adverse regulatory changes, such as a hike in import duty and a ban on gold on a lease, can impact demand, margins, or working capital requirements.
2. Substitution risk from other asset classes such as equities, bonds, and real estate
3. Shift towards artificial or fashion jewelry, especially among younger consumers, for whom the storage value of gold is lower.

Miscellaneous Information

Download Prospectus (PDF)IPO RHP
Company Contact InformationSenco Gold Limited
Diamond Prestige, 41A, A.J.C. Bose Road, 10th floor, Unit no. 1001, Kolkata – 700 017
Phone: +91 33 4021 5000
Email: [email protected]
Website: https://sencogoldanddiamonds.com/
IPO RegistrarKfin Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://karisma.kfintech.com/
IPO Lead Manager(s)IIFL Securities Ltd
Ambit Private Limited
SBI Capital Markets Limited

FAQs

The finalisation of the basis of allotment for the Senco Gold IPO will be done on July 11, 2023, and the allotted shares will be credited to your demat account by July 13, 2023. Check the Senco Gold IPO allotment status.

The Senco Gold IPO shares listing date is July 14, 2023.

The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.

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