IPO Details
Bidding Dates
03 Jul '23 - 05 Jul '23
Minimum Investment
₹14,899 / 1 Lots ( 47 Shares )
Price Range
₹301 - ₹317
Maximum Investment
₹193,687 / 13 Lots (611 Shares)
Retail Discount
Not Applicable
Issue Size
₹405.00 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jul 3, 2023
IPO Closing Date
Jul 5, 2023
Basis of Allotment
Jul 10, 2023
Initiation of Refunds
Jul 11, 2023
Credit of Shares to Demat Account
Jul 12, 2023
IPO Listing Date
Jul 13, 2023
UPI Mandate Expiry Date
Jul 5, 2023
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Jul 3, 2023 |
0.00 | 0.66 | 1.21 | 0.75 |
Day 2Jul 4, 2023 |
0.28 | 3.79 | 3.92 | 2.85 |
Day 3Jul 5, 2023 |
190.56 | 68.44 | 16.28 | 77.25 |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 190.56 |
| Non-Institutional Buyers | 68.44 |
| Retail Investors | 16.28 |
| Total | 77.25 |
About Senco Gold India Ltd
Senco Gold Limited, incorporated on August 22, 1994, is a prominent jewellery retail player in India with a rich history of over five decades. It holds the distinction of being the largest organised jewellery retail player in the eastern region of India in terms of the number of stores. Moreover, among jewellery retailers based in eastern India, Senco has the widest geographical footprint in non-eastern states. The company operates under the trade name "Senco Gold & Diamonds" and offers its extensive range of products through various channels, including its 70 Company Operated Showrooms, 57 Franchisee Showrooms (including 4 franchisees owned and company-operated showrooms), and various online platforms.
Senco Gold & Diamonds takes pride in its diverse catalogue, which features over 108,000 designs for gold jewellery and more than 46,000 designs for diamond jewellery. The company specialises in handcrafted jewellery and has a team of designers, comprising 20 members as of March 31, 2023, who collaborate closely with skilled local craftsmen (Karigars) in Kolkata and across the country to create most of the designs in-house. The manufacturing process primarily involves over 170 experienced Karigars who bring these designs to life.
Senco Gold IPO Objectives:
The company proposes to utilise the net proceeds from the issue towards the following objects:
- Funding the working capital requirements of the company.
- General corporate purposes.
Why should you invest in the Senco Gold IPO?
- The brand has been consistently performing to be the most trusted jewellery brand. From 4th place, they have been promoted to the second position for the most trusted jewellery brands by TRA’s Brand Trust Report
- The brand mainly focuses on quality, craftsmanship and original designs to continue its brand recognition and maintain its customer loyalty
- The revenue of the brand has been consistently higher in the last three Fiscal years
Senco Gold India Ltd Company Financials
| KPI | Eight months ended Nov 30, 2021 | Fy 2021 | Fy 2020 |
|---|---|---|---|
| Revenue from operations (₹ in million) | 24,672.59 | 26,603.7 | 24,203.39 |
| Profit after tax for the period/year (₹ in million) | 1,015.68 | 614.82 | 909.34 |
| Return on Capital Employed (in %) | 12.61* | 13.22 | 16.62 |
| Return on Equity (in %) | 15.62* | 10.65 | 17.86 |
| Revenue CAGR (Fiscal 2019 – Fiscal 2021) (in %) | - | - | - |
| Inventory Turnover Ratio | 2.07* | 2.50 | 2.48 |
Know before investing
Strengths
4-
Through various retail stores, the brand has reduced geographical concentration
-
The brand sells hallmark jewellery and certified diamonds, resulting in impeccable trust-building among the customers
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The strong brand recollection among customers leads to higher investment in brand
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The diverse product portfolio and constant introduction of new products help the brand to cater to evolving consumers
Risks
4-
Due to the presence of lots of different pan-India jewellery chains, there is higher competition.
-
Any adverse regulatory changes like hike in import duty, ban on the gold lease, etc. can affect the margins of the company
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The preference of the younger consumer is more toward artificial/fashion jewellery
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The business can be affected by highly working capital-intensive operations.
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Peer Comparison
| Players | Store Count | Sector P/E |
|---|---|---|
| TBZ | 31 | Pan India; majorly Western India |
| Thangamayil Jewellery Ltd | 50 | Southern India (concentrated in Tamil Nadu) |
| Malabar Gold Pvt. Ltd | 243 | Pan India, international: Bahrain, the UAE, Kuwait, Malaysia, Oman, Qatar, Saudi Arabia, Singapore and the Us |
Senco Gold India Limited IPO FAQs
The Senco Gold Ltd IPO is a fresh issue IPO worth ₹270.00 Cr with the face value of ₹10 per share. The price band is set between ₹301 to ₹317 per share.
The Basis of Allotment date is Tuesday, 11 July 2023.
The lot size for Senco Gold Ltd. is 47 shares.
The IPO subscription window opens on Tuesday, 4 July 2023, and closes on Thursday, 6 July 2023.
Retail investors can apply for a minimum of one lot.
Senco Gold Ltd. IPO will list on the NSE and BSE exchanges on Friday, 14 July 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP.
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before listing the IPO on the stock exchange, which is Friday, 14 July 2023 for Senco Gold Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
Yes, it is possible to alter the price and lot size. Use the changing/revising the application form that comes with the application kit.
You can submit only one application using your PAN card.
The Founder-Chairman of Senco gold was the late Sankar Sen. At present, the whole-time director, Suvankar Sen, is acting as the MD and CEO of the company.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
