Senco Gold Limited IPO – Review, Allotment, Subscription, GMP & DRHP

Senco Gold Limited is primarily engaged into selling gold and diamond jewellery and also selling jewellery made of silver, platinum and precious and semi-precious stones and metals. Senco Gold Limited IPO comprises of [●] Equity shares, face value of Rs.10 each.

Let’s have a detailed review of the company and analytics of the Senco Gold Limited IPO release date, IPO offer price, subscription, Senco Gold Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Senco Gold Limited IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
Star Ratings★★★★☆

Summary of Senco Gold Limited IPO

Senco Gold Limited IPOSenco Gold Limited primarily engaged into selling gold and diamond jewellery and also selling jewellery made of silver, platinum and precious and semi-precious stones and metals. The Issue comprises of a Public Issue of [●] Equity shares of face value of Rs.10.00 each fully paid  up. The Issue and the Net Issue will constitute 30.00% and 28.44%, respectively of the post issue paid-up equity share capital of the Company.

  • As per restated financial statements for the fiscal year ended on March 31, 2018, 2017 and March 31, 2016, the total revenue of the Company stood at Rs. 22,248.98 lakhs, Rs. 18,509.85 lakhs, and Rs. 15,360.14 lakhs respectively.
  • During the financial year 2017-18 the Other Income of the company increased to Rs. 108.84 Lakhs as against Rs. 86.43 Lakhs for the financial year 2016-17, representing increase by 25.9% due to increase in interest income & insurance claim in FY 2017- 18.
  • Profit after tax for fiscal year ended on March 31, 2018, March 31, 2017 and March 31, 2016 stood at Rs. 728.06 lakhs, Rs. 391.47 lakhs, and Rs. 154.87 lakhs respectively.
  • The net worth of the Company as of March 31, 2018, as per the Restated Standalone Financial Information included in this Draft Red Herring Prospectus was Rs. 3,982.66 million.
  • The net asset value of the Company per Equity Share of face value of Rs.10 each was Rs.74.88 as on March 31, 2018, as per the Restated Standalone Financial Information.

The Promoters of this company are Sankar Sen, Suvankar Sen, Jai Hanuman Shri Siddhivinayak Trust and OM Gaan Ganpataye Bajranbali Trust. The lead manager to the issue is IDFC Bank Limited, ICICI Securities Limited, IIFL Holdings Limited, Emkay Global Financial Services Limited, YES Securities (India) Limited, and the Registrar to this issue is Karvy Computershare Private Limited.


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Senco Gold Limited IPO Date

The opening and the closing date of Senco Gold Limited IPO is not known yet.


Senco Gold Limited IPO Subscription

Day / DateQIBNIIRIITotal Subscription
Day 1 
Day 2
Day 3
Day 4
Day 5
Shares Offered or Net Issue

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Senco Gold Limited IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Senco Gold Limited IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Senco Gold Limited IPO Equity Share Offering

 30,00,000 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed .


Senco Gold Limited – Company Overview

Senco Gold Limited was originally incorporated as Senco Gold Private Limited under the Companies Act, 1956 and a certificate of incorporation was issued by Assistant Registrar of Companies, Gujarat, Dadra & Nagar Haveli on April 22, 2004. A fresh certificate of incorporation consequent upon conversion to public limited Company was issued by the Assistant Registrar of Companies, Ahmedabad, Gujarat dated January 29, 2018.

Senco Gold Limited primarily engaged into selling gold and diamond jewellery and also selling jewellery made of silver, platinum and precious and semi-precious stones and metals. Other offerings include costume jewellery, gold/ silver coins and utensils made of silver. Presently, they have 93 showrooms, which have a total area of approximately 255,284 sq. ft., in 72 cities and towns. Offer a large variety of designs of handcrafted jewellery, most of which are designed in-house by their team of designers in close collaboration with skilled local artisans or craftsmen. have also received the award of “Best Chain of Retail Stores (National-2017)” by Indian Bullion and Jewellers Association Limited at the 4th India Bullion and Jewellery Awards, 2017.

The manufacturing of their jewellery is carried out by over 100 experienced Karigars in Kolkata, West Bengal under Karigar Agreements.

The Company is promoted by : Sankar Sen, Suvankar Sen, Jai Hanuman Shri Siddhivinayak Trust and OM Gaan Ganpataye Bajranbali Trust and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Senco Gold Limited:

  • have a long history and a strong brand name
  • are the largest organized jewellery retail player in the eastern region of India based on number of stores (Source: CRISIL Report) with an expanding national footprint.
  • Strong ‘Company Operated Showroom’ base complemented by an established asset-light ‘franchise’ model leading to operating leverage
  • Differentiated focus on light, affordable jewellery with the intention to cater to the middle class and younger generation.
  • Established Systems and Procedures.
  • Experience of the Promoters and strong management.

Business strategies of Senco Gold Limited:

  • Focus on catering to the younger generation and the ‘middle-class’ India.
  • Expand their retail and franchise network.
  • Leverage technology to enhance operational efficiency.
  • Continue to increase focus on sale of fast-moving diamond jeweller.
  • Continue to invest in their marketing and brand building initiatives.

Senco Gold Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
Total Assets 11,728.338,867.938,420.735,461.464,484.13
Total Revenue22,248.9818,509.8515,360.1414,393.6013,208.38
Total Expense21,295.1717,898.7415,120.4813,851.5912,694.85
Profit After Tax728.06391.47154.87359.43363.91

Earnings per Equity Share (in Lakhs) 

31-Mar-1831-Mar-1731-Mar-16
Basic13.697.112.81
Diluted10.955.892.33

From the above statements, one could find that the Senco Gold Limited may perform well.


Senco Gold Limited IPO – Promoters

The Promoters of this company are:

  1. Sankar Sen
  2. Suvankar Sen
  3. Jai Hanuman Shri Siddhivinayak Trust
  4. OM Gaan Ganpataye Bajranbali Trust

List of Related Parties (Key Managerial Personnel)

  • Mrs. Arpita Dey ,
  • Sankar Sen
  • Suvankar Sen
  • Mr. Vishal Satinder Sood
  • Mr. Debabrata Sarkar
  • Mr. Dipankar Chatterji

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Senco Gold Limited IPO Offer Details or Issue Details

ParticularsNo. of Equity Shares
Offer Up to [●] Equity Shares, aggregating up to
Rs. 6,000 million 
Of which
Employee Reservation PortionUp to 100,000 Equity Shares
Accordingly,
The Net OfferUp to 18,436,600 Equity Shares
Of which:
QIB CategoryNot more than [●] Equity Shares
Of which:
 Anchor Investor PortionUp to [●] Equity Shares
Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed)[●] Equity Shares
Of which:
– Available for allocation to Mutual Funds only (5% of the QIB Category (excluding the Anchor Investor Portion))Up to [●] Equity Shares
– Balance of QIB Category for all QIBs including Mutual Funds[●] Equity Shares
Non-Institutional CategoryNot less than [●] Equity Shares
Retail CategoryNot less than [●] Equity Shares
Equity Shares outstanding prior to the offer
Of which:
Equity shares outstanding prior to the DRHP53,186,112 Equity Shares
Equity Shares outstanding prior to the Issue (upon conversion of
CCPS)
66,482,265 Equity Shares
Equity Shares outstanding after the Offer[●] Equity Shares

Senco Gold Limited IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding the Working Capital requirements of the Company:
  • General Corporate Purposes
  • Strategic initiatives and acquisitions
  • Brand building and strengthening of the marketing capabilities

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Senco Gold Limited IPO – Basis of the 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:

  • Long history and a strong brand name.
  • They are the largest organized jewellery retail player in the eastern region of India based on number of stores (Source: CRISIL Report) with an expanding national footprint.
  • Strong ‘Company Operated Showroom’ base complemented by an established asset-light ‘franchise’ model leading to operating leverage
  • Differentiated focus on light, affordable jewellery with the intention to cater to the middle class and younger generation.
  • Established Systems and Procedures.
  • Experience of their Promoters and strong management.

The relevant quantitative factors are:

Basic EPS in Rs.Diluted EPS in Rs.RONW (%)NAV (Rs.)
31-Mar-162.812.335.29
31-Mar-177.115.8912.03
31-Mar-1813.9610.9518.2874.88
  • Industry P/E Ratio
ParticularsP/E Ratio
Highest69.50
Lowest24.64
Average47.07
  • Competitive Peers:
Sr. No. ParticularsFace Value  (in Rs.)EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
1Senco Gold Limited1013.69[●]18.2874.88
2Titan Company Limited 113.1069.5022.3958.50
3Tribhovandas Bhimji
Zaveri Limiteds 
103.1624.644.3372.93

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Senco Gold Limited IPO Lead Managers

Lead Managers
IDFC Bank Limited

ICICI Securities Limited

IIFL Holdings Limited

Emkay Global Financial Services Limited

YES Securities (India) Limited

Senco Gold Limited IPO Registrar to offer

Karvy Computershare Private Limited
Karvy Selenium Tower B
Plot 31-32, Gachibowli, Financial District
Nanakramguda Hyderabad 500 032, India
Tel: +91 40 6716 2222 Fax: +91 40 2343 1551 E-mail:
Investor Grievance E-mail:
Website: www.karisma.karvy.com
Contact Person: M Murali Krishna
SEBI Registration No.: INR000000221

Other Details:

  • Statutory Auditor – M/s. B S R & Co. LLP, Chartered Accountants
  • Peer Review Auditor – M/s. B S R & Co. LLP, Chartered Accountants
  • Bankers to the Company –Yes Bank Limited, SBI, Indusind Bank Limited, IDFC Bank Limited, HDFC Bank Limited, DCB Bank Limited, Kotak Mahindra Bank Limited, The South Indian Bank Limited, Allahabad Bank,Axis Bank Limited  

Senco Gold Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Senco Gold Limited IPO Grey Market Premium

The Senco Gold Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Senco Gold Limited IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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