Senco Gold raises Rs 459 crore by way of QIP, allots 40.8 lakh shares

Kolkata-based jewelry retail chain Senco Gold Restricted mentioned it raised Rs 459 crore by means of a Certified Establishments Placement (QIP) by allotting 40.8 lakh fairness shares. The QIP committee of the corporate’s board accepted the issuance and allotment of fairness shares of Rs 10 have been issued at a worth of Rs 1,125 per share, together with a premium of Rs 1,115, Senco Gold mentioned in a regulatory submitting on Friday night.

Put up the QIP, the corporate’s paid-up fairness share capital has elevated to Rs 81.80 crore, comprising 8.18 crore shares, from Rs 77.72 crore (7.77 crore shares), the corporate added.

Among the many main allottees, 4 funds beneath Tata AIA Life Insurance coverage Co. grabbed 14.49 per cent of the problem dimension. On a standalone foundation, Tata Multicap Fund obtained the biggest portion with 8.77 per cent of the problem dimension, adopted by Tata AIA Life Insurance coverage Co. Ltd’s Rising Alternatives Fund (6.40 per cent) and ICICI Prudential Life Insurance coverage Co. Ltd (6.54 per cent).

Different vital buyers included BOFA Securities Europe SA (5.23 per cent), Financial institution of India Flexi Cap Fund (5.07 per cent), Carnelian Bharat Amritkaal Fund (5.01 per cent), and Bandhan Small Cap Fund (5.01 per cent).

The funds raised will assist the jewelry chain to gas its progress and growth, with plans so as to add 18-20 shops a 12 months, the assertion added.