Senco Gold files Rs 525 crore IPO papers with SEBI
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Senco Gold has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 525 crore through an initial public offering (IPO). The equity shares of the company are proposed to be listed on BSE and NSE.
The company proposes to utilise Rs 240 crore of net proceeds from the fresh issue towards funding working capital requirements and rest towards general corporate purposes. IIFL Securities, Ambit and SBI Capital Markets are the book running lead managers to the IPO.
Primarily, Senco Gold sells gold and diamond jewellery alongside jewelleries made of silver, platinum, and precious and semi-precious stones and other metals. Other offerings include costume jewellery, gold and silver coins, and utensils made of silver.
