Senco Gold Raises ₹459 Crore via QIP to Fuel Growth

Senco Gold, a Kolkata-based jewellery retail chain, has raised ₹459 crore through a Qualified Institution Placement (QIP). The company issued 40.8 lakh equity shares, priced at ₹1,125 each, with a premium of ₹1,115 per share.

After the QIP, Senco Gold’s paid-up equity share capital has risen to ₹81.80 crore, with a total of 8.18 crore shares, up from ₹77.72 crore and 7.77 crore shares previously.

Major Investors in the QIP

Notable investors in the placement include Tata AIA Life Insurance Co., which secured 14.49% of the issue size. Other key investors include Tata Multicap Fund, ICICI Prudential Life Insurance, and BOFA Securities Europe.

The funds raised will aid Senco Gold in expanding its business. As part of its growth strategy, the company plans to open 18-20 new stores annually.

About Senco Gold Limited

Senco Gold Limited is an Indian jewellery retail and manufacturing company based in Kolkata. Founded in 1994, it operates through a network of retail stores and an online platform. Based on the number of stores, the company is the largest organised jewellery retailer in Eastern India.

Senco Gold share price is currently trading at ₹1,148.40, down by ₹4.40 (0.38%) as of 10:13 AM on December 16. The stock opened at ₹1,153.95, reached a high of ₹1,168.00, and a low of ₹1,142.50. Over the past 52 weeks, the stock has hit a high of ₹1,544.00 and a low of ₹681.40.

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