Investors who are interested in IPOs have excellent news. Another company will soon enter the market with its IPO if you also intend to invest in stocks. On July 4, 2023, subscriptions for Senco Gold Diamonds Company’s first public offering (IPO) will be accepted. The IPO for the business will begin on July 4 and end on July 6. In these 3 days, investors can make investments in IPOs.
The price range is set.
The price range for the IPO has also been set by Senco Gold Diamonds. The IPO would cost between Rs. 301 and 317 per share. Under Senco’s IPO, new shares worth Rs 270 crore would be issued. Saif Partners India-4 Limited, a shareholder of the business, will also bring an offer for sale (OFS) of Rs 135 crore. You will need to invest this much money, or Rs 14,147, to purchase shares in this company. In addition, 47 shares will be included in one lot size.
What did the business’s CEO say?
Suvankar Sen, the CEO, and Managing Director of Senco revealed that SAIF Partners currently owns 19.23% of the chain’s retail jewelry stores. Through an IPO, the corporation will sell its 8–9 percent ownership. The IPO’s book-running lead managers are SBI Capital Markets, Ambit, and IIFL Securities. It is anticipated that the company’s share distribution process will be finished on July 11 and that the company’s shares will be listed on July 14.
In 13 states, the corporation has 140 showrooms.
The operating capital requirement will be satisfied with Rs 196 crore of the Rs 270 crore raised through the new issue. The balance will be applied to other general company uses. In 13 states, the corporation has 140 showrooms. West Bengal is where 63% of these showrooms are located.
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