Senco Gold Limited is a pan-India jewelry retailer. The products are sold under its brand name “Senco Gold & Diamonds“.
Senco Gold primarily sells gold and diamond jewelry along with jewelry made of silver, platinum, precious and semi-precious stones, and other metals. The company also offers costume jewelry, gold, and silver coins, and utensils made of silver.
Senco Gold catalog of more than 108,000 designs for gold jewelry and more than 46,000 designs for diamond jewelry, the company offers a variety of designs of handcrafted jewelry, most of which are designed and manufactured in-house in collaboration with over 170 skilled local craftsmen in Kolkata and across the country. As on March 31, 2023, the company has a team of 20 designers. The company also manufactures machine-made lightweight jewelry in gold and diamonds and source jewelry from third-party vendors.
Through its Everlite (lightweight jewelry), Gossip (silver and fashion jewelry) brands, and Aham collection (jewelry for men) jewelry collections the company aims to cater to the younger generation and the ‘upwardly mobile’ of India by building brands focused on jewelry of smaller average ticket size. The company’s D’Signia Showrooms and Vivaha collection aim to cater to customers seeking heavier or premium designer jewelry or a more premium jewelry retail shopping experience.
Their standard showrooms have an Average Ticket Size of ₹ 48,000.00, D’Signia Showrooms have an Average Ticket Size of ₹ 51,000.00 and Everlite Showrooms have an Average Ticket Size of ₹ 29,000.00, each for the Fiscal 2023.
The company has over 136 showrooms which have a total area of approximately 409,882 sq. ft. It includes 70 company-operated showrooms and 61 franchisee showrooms spread across 99 cities and towns over 13 states across India.
Senco Gold IPO – Details
| IPO Opening Date | 04 July 2023 |
| IPO Closing Date | 06 July 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1,27,76,025 Shares Worth ₹405.00 Crore Fresh Issue: 85,17,350 Shares Worth ₹270.00 Crore Offer For Sale: 42,58,675 Shares Worth ₹135.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹301 – ₹317 |
| Market Lot | 47 Shares |
| Min Order | 47 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Senco Gold IPO – Date Schedule
| IPO Open Date | 04 July 2023 |
| IPO Close Date | 06 July 2023 |
| Basis of Allotment Date | 11 July 2023 |
| Initiation of Refunds | 12 July 2023 |
| Credit of Shares to Demat Account | 13 July 2023 |
| IPO Listing Date | 14 July 2023 |
Senco Gold IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 47 | 14,899 |
| Retail (Max) | 13 | 611 | 1,93,687 |
| S-HNI (Min) | 14 | 658 | 2,08,586 |
| S-HNI (Max) | 67 | 3149 | 9,98,233 |
| B-HNI (Min) | 68 | 3196 | 10,13,132 |
Competitive Strengths
- The company has a strong brand name with heritage / legacy of over five decades;
- Largest organised jewellery retail player in the eastern region of India based on number of stores;
- Strong ‘Company Operated Showroom’ base;
- Established asset-light ‘franchise’ model leading to operating leverage;
- Calibrated focus on light, affordable jewellery with the intention to cater to the upwardly mobile and younger generation;
- Established Systems and Procedures to mitigate risk and improve efficiencies;
- Experienced management team and institutional investor support.
Company Promoters
- Suvankar Sen
- Jai Hanuman Shri Siddhivinayak Trust
- Om Gaan Ganpataye Bajrangbali Trust
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2021 | 2674.92 | 2591.26 | 61.48 |
| 31 March 2022 | 3547.41 | 3370.45 | 129.10 |
| 31 March 2023 | 4108.54 | 3892.38 | 158.47 |
Object Of The Issue
- Funding working capital requirements of the Company; and
- General corporate purposes.
Senco Gold IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Kalyan Jewellers India Limited | 29.29 |
| 2 | 1 | Titan Company Limited | 81.13 |
Senco Gold IPO Strengths
- 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.
- The strong brand recollection among customers leads to higher investment in brand.
- The diverse product portfolio and constant introduction of new products help the brand to cater to evolving consumers.
Senco Gold IPO Risks
- 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.
- The preference of the younger consumer is more toward artificial/fashion Jewellery.
- The business can be affected by highly working capital-intensive operations.
Senco Gold IPO Promoter Holding
| Pre Issue Share Holding | 76.92% |
| Post Issue Share Holding | 68.48% |
Senco Gold IPO Prospectus
Company Contact Information
| Senco Gold Limited Diamond Prestige, 41A, A.J.C. Bose Road, 10th floor, Unit no. 1001, Kolkata – 700 017 Phone: +91 33 4021 5000 Email: corporate@sencogold.co.in Website: https://sencogoldanddiamonds.com/ |
Senco Gold IPO Registrar
| Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: sencagold.ipo@kfintech.com Website: https://karisma.kfintech.com/ |
Senco Gold IPO Lead Manager(s)
| 1. IIFL Securities Ltd 2. Ambit Private Limited 3. SBI Capital Markets Limited |
Senco Gold IPO FAQs
| What is Senco Gold IPO? Senco Gold IPO is a main-board IPO. The issue is priced at ₹301 to ₹317 per equity share. The IPO is to be listed on BSE & NSE. |
| When Senco Gold IPO will open? The IPO is to open on 04 July 2023 for QIB, NII, and Retail Investors. |
| What is Senco Gold IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Senco Gold IPO? You can apply Senco Gold IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Senco Gold IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Senco Gold”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Senco Gold IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Senco Gold”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Senco Gold IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Senco Gold”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Senco Gold IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Senco Gold”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Senco Gold IPO Size? Senco Gold IPO size is ₹405.00 Cr. |
| What is Senco Gold IPO Price Band? Senco Gold IPO Price Band is ₹301 to ₹317. |
| What is Senco Gold IPO Minimum and Maximum Lot Size? The minimum bid is 47 Shares with ₹14,899 amount while the maximum bid is 611 shares with ₹1,93,687. |
| What is the Senco Gold IPO Allotment Date? Senco Gold IPO allotment date is 11 July 2023. |
| What is the Senco Gold IPO Listing Date? Senco Gold IPO listing date is 14 July 2023. The IPO is to list on BSE and NSE. |
