Senco Gold Limited (the“Company”) announced the opening for the subscription of an initial public offering of equity shares of the face value of ₹ 10 each(“Equity Shares”) aggregating up to ₹ 4,050 million (“Offer”).

Sanjay Banka, CFO, Senco Gold Limited, Suvankar Sen, MD & CEO, Senco Gold Limited, Joita Sen, Director, Senco Gold Limited, Sandeep Sharma, Executive Director, Ambit Private Limited graced the announcement.

Speaking at the announcement press conference, Suvankar Sen said “The honesty with which we have been serving our customers has helped us to earn their trust. We hope that they will continue to trust us and support us in this new endeavor”.

The initial public offering comprises a fresh issue of equity shares aggregating up to ₹ 2,700 million (“Fresh Issue”) and an offer for sale by SAIF Partners India IV Limited (the “Selling Shareholder”) of equity shares aggregating up to ₹ 1,350 million  (the “Offer for Sale”). The anchor investor bidding period is Monday, July 03, 2023.  The Offer will close on Thursday, July 06, 2023.

The Price Band of the Offer has been fixed from ₹301 to ₹317 per equity share. Bids can be made for a minimum of 47 equity shares and in multiples of 47 equity shares thereafter.

The Company proposes to utilize the net proceeds of the Fresh Issue towards funding the working capital requirement of the Company which is estimated to be ₹ 1,960 million and the balance amount towards general corporate purposes. (the “Objects of the Issue”)

The Equity Shares are being offered through the red herring prospectus (“RHP”) of the Company dated June 27, 2023filed with Registrar of Companies, West Bengal at Kolkata(“ROC”) and are proposed to be listed on BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”). For the purposes of the Offer, the NSE is the Designated Stock Exchange.

Priyanka Dutta