Senco Gold Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Senco Gold

CMP

978.40

+13.90 (1.44%)

₹317

Offer Price

₹ 405.00 Cr

Issue Size

₹ 14,899

Min Investment

73.35x

Times Subscribed

47

Lot size

Time Line

  • 04
    Jul 2023
    Open
  • 06
    Jul 2023
    Close
  • 11
    Jul 2023
    Finalisation of Basis of Allotment
  • 12
    Jul 2023
    Initiation of Refunds
  • 13
    Jul 2023
    Transfer of Shares to Demat Account
  • 14
    Jul 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Experienced management team and institutional investor support.

  • Focus on increasing the overall operating margins by adapting optimal product mix

  • Continue to invest in its marketing and brand building initiatives through hyperlocal strategy.

  • Focus on catering to the younger generation and the upwardly mobile in India.

  • Leverage technology to enhance operational efficiency, customer experience and delight.

Products & Services

  • Senco Gold Limited sells gold and diamond jewellery and also sells jewellery made of silver, platinum and precious and semi-precious stones and other metals.

Strengths

  • The Company has a strong brand name with heritage / legacy of over five decades;

  • Largest organised jewellery retail player in the eastern region of India based on number of stores.

  • Strong `Company Operated Showroom` base;

  • Established asset-light `franchise` model leading to operating leverage;

  • Calibrated focus on light, affordable jewellery with the intention to cater to the upwardly mobile and younger generation;

Risks

  • The company face significant competition in the Indian jewellery market, its risk losing substantial portion of the company customers and its market share which will adversely affect its business, financial condition, results of operations and prospects.

  • The Company requires significant amounts of working capital for continued growth. Its inability to meet the company working capital requirements, on commercially acceptable terms, may have an adverse impact on its business, financial condition and results of operations.

  • The company obtain gold on loan basis, which remains subject to RBI regulations. Any adverse change in the regulations governing gold on loan basis may adversely affect its financial condition and results of operations.

  • A significant portion of the company manufacturing work is done by Karigars who do not work exclusively for it which exposes it to any risks/adverse developments affecting the Karigars.

  • The company has been subject to a `Search and Seizure` operation by the income-tax department in the past, which has resulted in taxation and criminal proceedings being initiated against the Company and its Individual Promoter. The company has also been subject to an on spot search from the Directorate General of Central Excise Intelligence, Kolkata along with show cause notice. Further, a search has been conducted by the customs department at its Registered and Corporate Office in relation to an investigation against one of its Job Worker and vendor and a spot summons was issued to the Company. Any adverse outcome of such proceedings might have an adverse effect on its business, financial condition and results of operations.

Company Promoters

Promoters Holding

Issue For IPO
74.71%
Pre Holding

74.71%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 3,534.64 (32.90%) 4,077.40 (15.40%) 16.76 (-)
Gross Profit 3,534.64 (32.90%) 4,077.40 (15.40%) 16.76 (-)
Net Income 3,534.64 (32.90%) 4,077.40 (15.40%) 16.76 (-)
Assets 3,534.64 (32.90%) 4,077.40 (15.40%) 16.76 (-)
Liabilities 3,534.64 (32.90%) 4,077.40 (15.40%) 16.76 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Senco Gold Ltd 4,077.40 158.48 2,358.22 1,426.00 18.96 28.38 166.92 4.59 0.59
Kalyan Jewellers India Ltd 14,071.45 433.10 10,712.94 10,712.94 11.91 4.20 35.28 4.04 0.97
Titan Company Ltd 40,575.00 3,250.00 27,023.00 27,023.00 27.42 36.61 133.75 12.02 0.63

Book Running Managers

  • Ambit Pvt Ltd
  • SBI Capital Markets Ltd
  • IIFL Securities Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

Diamond Presitge 41A AJC Bose,
Road 10th Floor Unit No. 1001,
Kolkata - 700017
Phone : 91-33-40215000 Email : corporate@sencogold.co.in www.sencogoldanddiamonds.com

Offer Related Information

Initial public offer of 12,776,025* equity shares of face value of Rs. 10 each ("Equity Shares") of Senco Gold Limited ("Company" or "Issuer") for cash at a price of Rs. 317 per equity share (including a share premium of Rs. 307 per equity share) ("Offer Price") aggregating to Rs. 405.00 crores* ("Offer") comprising a fresh issue of 8,517,350* equity shares aggregating to Rs. 270.00 crores by the company (the "Fresh Issue") and an offer for sale of 4,258,675* equity shares by Saif Partners... More

News

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