Senco Gold Limited IPO is set to launch on 4 July, 2023. The company began its business operations in 1994. Its brand name is known as Senco Gold and Diamonds and all its jewellery products are sold under this name. Its product line includes jewellery made from platinum, silver, semi precious and precious metals and others. The company diversifies its business by offering clothes made of gold, silver, etc. Senco also makes utensils from silver and other metals.
The company has more than 108000 designs for gold jewellery and more than 46000 designs for diamond jewellery. It has more than 170 skilled local craftsmen who make all the designs and hence all its designs are handcrafted. Its designer team has more than 20 employees. Its other brands are Everlite, Aham and Gossip. These are brands that target low average ticket size. However, its D’Signia Showroom and Vivaha Collection are for premium Jewellery collections.
Overall the company has 136 Showrooms with an area of 409882 Lakh Sq Ft. of area.
Senco Gold Limited IPO DETAILS
Senco Gold Limited IPO is set to launch on 4 July, 2023. The subscription timeline extends till 6 July, 2023. The size for the IPO is 405 Crore Rs. Shares issued through fresh issue mode are worth 270 Crore Rs. Shares issued through offer for sale mode are worth Rs 135 Crore. The lot size is 100 shares and the price is 301 to 317 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is KFin Technologies Limited.
Tabular Description of Senco Gold Limited IPO
| IPO OPENING DATE | 4 July, 2023 |
| CLOSING DATE FOR IPO | 6 July, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 301 Rs to 307 per share |
| LOT SIZE | 47 shares |
| MINIMUM ORDER QUANTITY | 47 shares |
| ISSUE SIZE | 405 Crore Rs. |
| OFFER FOR SALE | 135 Crore Rs. |
| FRESH ISSUE | 270 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 14 July, 2023 |
Senco Gold Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 4 July, 2023 |
| CLOSING DATE FOR IPO | 6 July, 2023 |
| IPO ALLOTMENT DATE | 11 July, 2023 |
| REFUNDS | 12 July, 2023 |
| DEMAT A/C CREDITED ON | 13 July, 2023 |
| IPO LISTING DATE | 14 July, 2023 |
Senco Gold Limited IPO begins for subscription from 4 July, 2023. The IPO subscription would continue till 6 July, 2023. The allotment status for the shareholders who applied would come on 11 July, 2023. The refunds for the ones who did not get allotment would be initiated on 12 July, 2023. The DEMAT accounts of shareholders would be credited on 13 July, 2023. The listing of the company would be completed on 14 July, 2023.
Senco Gold Limited IPO : Lead Managers
The lead managers are :
- Ambt Private Limited
- IIFL Securities Limited
- SBI Capital Markets limited
The minimum lot size for the company is decided at 47 shares. This holding accounts to 14899 Rs.. The maximum lot size is decided at 611 shares. This amounts to 193687 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 47 shares | 14899 Rs. |
| Maximum | 611 shares | 193687 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 1559 | 2100 | 2900 |
| Revenue | 2674 | 3547 | 4108 |
| PAT | 61 | 129 | 158 |
Senco Gold Limited had an asset base of 1559 Crore Rs in 2021 which increased to 2100 Crore Rs in 2022 and 2900 Crore Rs in 2023. The revenue of the firm also increased consistently with 2674 Crore Rs in 2021, 3547 Crore Rs in 2022 and 4108 Crore Rs in 2023. The company’s profit was 61 Crore Rs in 2021, 129 Crore Rs in 2022 and 158 Crore Rs in 2023.
PROS
- Its product line includes jewellery made from platinum, silver, semi precious and precious metals and others.
- The company diversifies its business by offering clothes made of gold, silver, etc. It also makes utensils from silver and other metals.
- Senco has more than 108000 designs for gold jewellery and more than 46000 designs for diamond jewellery. It has more than 170 skilled local craftsmen who make all the designs and hence all its designs are handcrafted.
- Its designer team has more than 20 employees. Its other brands are Everlite, Aham and Gossip. These are brands that target low average ticket size. However, its D’Signia Showroom and Vivaha Collection are for premium Jewellery collections.
- The showrooms have an average ticket size of 48 Lakh Rs whereas D’Signia has an average ticket size of 51 Lakh Rs and the Everlite range has an average ticket size of 29 Lakh Rs.
- Overall the company has 136 Showrooms with an area of 409882 Lakh Sq Ft. of area.
CONS
- The company works in a highly competitive segment.
Senco Gold Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Senco Gold Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
