Senco Gold IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Jul 06, 2023An IPO is a public offering where a company offers the shares for the first time to the general public. The process leads to the listing of shares on the stock exchanges.
There are two major stock exchanges in India that have nationwide trading terminals. The exchanges are the Bombay Stock Exchange and National Stock Exchange.
Senco Gold is coming up with an Initial Public Offering. The Senco Gold IPO will be listed on NSE and BSE. The IPO consists of a fresh issue and an Offer for Sale.
We will comprehend all the factors of this public offer with our Senco Gold IPO Review.
| Face Value | Rs 10 |
| Price Band | Rs 301 to Rs 317 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 47 Shares |
| Listing Date | 14 July 2023 |
| Offer for Sale | Rs.135.00 Crore |
| Fresh Issue | Rs.270.00 Crore |
| IPO Size | Rs.405.00 Crore |
| Tick Size | 1 |
Senco Gold IPO Overview
Senco Gold is a jewellery retailer operating across the country. The company has filed the preliminary paper with SEBI to float a Senco Gold IPO of up to Rs. 405.00 crore in the market.
The IPO will comprise a Fresh Issue aggregating up to Rs. 270.00 crores and an Offer for the Sale of equity shares aggregating up to Rs. 135.00 crores.
Alongside, the company might also consider a pre-IPO placement of up to Rs. 65 crore. And if the placement is successfully undertaken, the IPO size will be reduced accordingly.
Senco Gold IPO Important Dates
| Events | Date |
| IPO Opening Date | 4 July 2023 |
| IPO Closing Date | 6 July 2023 |
| Basis of Allotment Finalization | 11 July 2023 |
| Refunds Initiation | 12 July 2023 |
| Credit of Shares to Demat Account | 13 July 2023 |
| Share Listing Date | 14 July 2023 |
Senco Gold is preparing to bring its shares into the market at the earliest to garner funds and accomplish its IPO objectives. The company filed the Draft Red Herring Prospectus (DRHP) with SEBI on 14th April 2022.
Now, the company is marking the time to receive the SEBI approval. Every company willing to offer its securities to the public is required to meet the requirements of SEBI.
Once the IPO is approved, the company will announce the Senco Gold IPO date and welcome bids from investors for the allotment of shares.
Senco Gold IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs 301 to Rs 317 |
| Offer for Sale | Rs.135.00 Crore |
| Fresh Issue | Rs.270.00 Crore |
| IPO Size | Rs.405.00 Crore |
The Book Building Process will determine Senco Gold IPO Size and Senco Gold IPO Price. The face value of the offered equity shares is Rs. 10 each.
The issue is entirely book-built. In the book-building process, the price is determined according to the bids collected from the investors at different prices within the price band.
This mechanism helps in arriving at an efficient price for the equity shares.
And once the shares are listed on the stock exchange, their value fluctuates according to the demand & supply and based on various other factors affecting the company.
Senco Gold IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Trading in Grey Market yet | |||
Grey Market an influencing factor on the listing price of an IPO. Grey Market is an unofficial market that operates outside the stock market. The shares trade here before their listing on the stock exchange.
Senco Gold IPO GMP will be available after the company’s IPO opening date is revealed. We will keep you updated with the everyday GMP changes.
Senco Gold IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 4th Jul | 0.00x | 0.66x | 1.21x | 0.75x |
| 2nd Day -5th Jul | 0.28x | 3.79x | 3.92x | 2.85x |
| 3rd Day – 6th Jul | 190.56x | 68.44x | 16.28x | 77.25x |
| Shares Offered or Net Issue | 2,555,203 | 1,916,404 | 4,471,609 | 8,943,216 |
Subscription is an elemental process in any IPO. It indicates the demand for the shares in the market. Investors subscribe to an IPO by agreeing to buy shares through the application form.
Once the company receives all the applications for the subscription, it determines the allotment.
Senco Gold IPO Subscription will be open once the IPO opening and closing date are intimated. The investors will place bids for the number of shares they desire to hold.
Senco Gold IPO Allotment Status
Allotment of shares means crediting the shares in the Demat accounts of the successful bidders. Now, the share certificates are not dispatched in the physical form. To participate and hold shares, an investor must have a Demat Account.
Senco Gold IPO Allotment has not been initiated till now. The allotment date will be declared by the company soon.
Senco Gold IPO Live Performance
You can check the Senco Gold IPO Performance from here. The Senco Gold IPO Price will be updated here soon.
Subscribe to Senco Gold IPO – Open Free Demat Account Now!
Senco Gold – Company Review
Senco Gold is a decades-old jewellery retailer in India. It has been a pan-India jewellery company in business since 1994—the company set forth its journey as a private limited company.
Later in 2007, Senco Gold converted itself to a public limited company, and subsequently, its name was changed from Senco Gold Private Limited to Senco Gold.
The company offers a wide range of products and exquisite designs and patterns in Gold, silver, diamond, and platinum jewellery. They offer jewellery made by experienced Artisans who incorporate India’s rich heritage and Caligari and its people.
Senco Gold holds its originated in Kolkata. The place itself is well-known for its culture, art, passion, and craftsmanship
Products or Services
Senco Gold has a legacy of over five decades of delivering fine, beautiful jewellery which will define your beauty most elegantly.
In the journey, it has emerged as the largest jewellery retailer in the eastern region of India as an organized player. Not just this, it has the widest geographical standpoint in non-eastern states.
Largely Senco Gold offers jewellery made up of Gold and diamond. Additionally, it also has an extensive range of products of silver, platinum, precious stones, and other metals.
Some of the exemplary jewellery items offered by Senco Gold are rings, earrings, pendants, chains, necklaces, bangles, bracelets, nose pins, etc.
Promoters and Holding
The promoters of Senco Gold are:
- Suvankar Sen
- Jai Hanuman Shri Siddhivinayak Trust
- Om Gaan Ganpataye Bajrangbali Trust
The management of the company constitute the following:
- Ranjana Sen, in the position of Chairperson & Whole Time Director
- Suvankar Sen, in the position of Managing Director & Chief Executive Officer
- Vivek Kumar Mathur in the position of Non-Executive Nominee Director
- Bhaskar Sen, in the position of Independent Director
- Kumar Shankar Datta, in the position of Independent Director
- Suman Varma, in the position of Independent Director
- Joita Sen, in the position of Whole Time Director
- Shankar Prasad Halder in the position of Independent Director
- Sanjay Banka, in the position of Chief Financial Officer
- Surendra Gupta in the position of Company Secretary & Compliance Officer and Legal Head
Is Senco Gold Good for Investment?
Senco Gold is among the leaders in India in the retail jewellery business. It has an extensive spread across various parts of the country. From well-crafted jewellery designs to coins & bars and utensils, Senco Gold is a one-stop-shop.
The pieces of jewellery are designed by over 100 Artisans of Kolkata who are rooted in the heritage of jewellery. The delicate handmade jewellery craft for every occasion.
Senco Gold has over 127 showrooms located in 89 cities and towns. The brand has a remarkable presence in 13 states of India.
Senco Gold Financial Statements
| Amount (in INR & Million) | |||
| 31-Mar-23 | 31-Mar-22 | Mar-21 | |
| Assets | 29,053.19 | 21,001.85 | 15,592.97 |
| Revenue | 41,085.40 | 35,474.10 | 26,749.24 |
| Expense | 38,923.88 | 33,704.51 | 25,912.63 |
| Profit After Tax | 1,584.79 | 1,291.02 | 614.82 |
Senco Gold is a pan-India jewellery retailer which has evolved highly over the years. It is the largest jewellery brand in the eastern region of India and is gradually widening its operations.
The company’s financial records have expressed a steady income growth. The company’s total income for the years 2023, 2022, and 2021 were – 41,085.40 million, 35,474.10 million, and 26,749.24 million, respectively.
Additional Information
The profits before tax for 2023, 2022, and 2021 were – 1,584.79 million, 1,291.02 million, and 614.82 million.
Though the profit in 2020 was adversely impacted due to the circumstances, the company is again getting back on track.
In the financial year 2023-22, the company earned 41,085.40 million as the total income, and the profit for the same period was 1,584.79 million.
| Earnings per Equity Share (in Million) | |||
| 31-Mar-23 | 31-Mar-22 | Mar-21 | |
| Basic & Diluted | 22.9 | 19.42 | 9.25 |
After facing a dip in the financial year 2023-22, the EPS of Senco Gold was again going on the upside and stood at Rs. 22.9 on 31 March 2023.
In the previous years, the EPS was Rs. 22.9, Rs. 19.42 and Rs. 9.25 respectively.
Senco Gold IPO Review
The jewellery retailer has a strong, experienced team and is emerging as a renowned name in the non-eastern parts of the country also.
Senco Gold IPO consists of a fresh issue and offers for sale factor. The company is backed by SAIF Partners India IV Limited, which will offload its shares in the IPO.
The IPO I bring proposed to fund the working capital requirements and fulfil other corporate purposes. The company can also consider the pre-IPO placement of up to R. 65 crore.
With the IPO, the company’s shares will be listed on the mainboard stock exchanges
Senco Gold IPO Details
Here are a few more details you need to know before investing in Senco Gold IPO –
Senco Gold IPO Issue Object
Thus, Senco Gold has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Funding working capital requirements of the Company; and
- General corporate purposes.
Senco Gold IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- We have a strong brand name with a heritage/legacy of over five decades;
- Largest organized jewellery retail player in the eastern region of India based on the number of stores (Source: CRISIL Report);
- Strong ‘Company Operated Showroom’ base complemented by an 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;
- Established Systems and Procedures to mitigate risk and improve efficiencies;
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 22.93 | 18.96% | 136.83 |
| 31-Mar-22 | 19.42 | 19.43% | – |
| Mar-21 | 9.25 | 10.65% | – |
Senco Gold IPO Lead Managers
Here is the list of Lead managers –
- IIFL Securities Limited
- Ambit Private Limited
- SBI Capital Markets Limited
Senco Gold IPO Registrar to offer
Check out the details of the registrar here –
KFin Technologies Limited (formerly known as KFin
Technologies Private Limited)
Selenium, Tower B, Plot No. 31 and 32, Financial
District, Nanakramguda, Serilingampally
Hyderabad, Rangareddi 500 032, Telangana, India
Telephone: +91 40 6716 2222
E-mail: sencogold.ipo@kfintech.com
Website: www.kfintech.com
Investor grievance e-mail: einward.ris@kfintech.com
Contact Person: M. Murali Krishna
SEBI Registration No.:INR000000221
Senco Gold IPO – Other Details
- Statutory Auditor – Walker Chandiok & Co LLP, Chartered Accountants
- Legal Counsel to the Company – J. Sagar Associates
- Bankers to the Company – Axis Bank Limited, Bandhan Bank Limited, DCB Bank Limited, HDFC Bank Limited, Indian Overseas Bank, IndusInd Bank Limited, IDBI Bank Limited, IDFC FIRST BANK, Indian Bank Limited, Kotak Mahindra Bank Limited, South Indian Bank Limited, State Bank of India and YES Bank Limited
Senco Gold IPO – Conclusion
The Senco Gold IPO is a good opportunity for investors to invest in one of the top jewellery companies.
Its product range is wide, and the company is constantly bringing innovative products which are also profitable for the company in terms of enhanced margins.
To Subscribe to Senco Gold IPO – Open Demat Account Now!
Senco Gold IPO Review FAQs
Check out the FAQs on Senco Gold IPO –
What is the Issue Size of Senco Gold IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Senco Gold IPO?
The price band for this particular IPO ranges between Rs 301 to Rs 317. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Senco Gold IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 4 July 2023, while the closing date is set at 6 July 2023.
What is the Senco Gold IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 11 July 2023, refund initiation is on 12 July 2023, credit of shares is on 13 July 2023, and share listing date is on 14 July 2023.
What is the Senco Gold IPO Listing Date?
Shares of this company shall be listed in the exchanges on 14 July 2023. The date, when the listing would be done, is stagnant on 14 July 2023.
Who is the Registrar of Senco Gold IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Senco Gold IPO?
Here are the promoters of this IPO – SUVANKAR SEN, JAI HANUMAN SHRI SIDDHIVINAYAK TRUST AND OM GAAN GANPATAYE BAJRANGBALI TRUST. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Senco Gold IPO?
They have obtained the GMP of this IPO and it is NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Senco Gold IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Senco Gold Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 1,584.79, 2022 is 1,291.02, and 2021 is 614.82.
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