Senco Gold raises Rs 459 million via QIP, allots 40.8 million shares

Kolkata-based jewelery retail chain Senco Gold Limited has announced that it has raised Rs 459 million through allotment of 40.8 million equity shares through Qualified Institutional Introduction (QIP). The QIP Committee of the company’s board of directors has approved the issue and allotment of Rs 10 shares at a price of Rs 1,125 per share, including a premium of Rs 1,115 per share, Senco Gold said in a regulatory filing on Friday evening. Ta.

Post-QIP, the company’s paid-up share capital increased from Rs 77.72 billion (7.77 billion shares) to Rs 81.8 billion (8.18 billion shares), it added.

Among the major allotments, four funds under Tata AIA Life Insurance acquired 14.49% of the issue size. On a standalone basis, Tata Multicap Fund received the largest stake at 8.77 per cent of the issue size, followed by Tata AIA Life Insurance Ltd.’s Emerging Opportunities Fund (6.40 per cent), ICICI Prudential Life Insurance Ltd. ( 6.54%) followed. ).

Other major investors include BOFA Securities Europe SA (5.23%), Bank of India Flexi Cap Fund (5.07%), Carnelian Bharat Amritkaal Fund (5.01%) and Bandhan Small Cap Fund (5.01%) .

The funds raised will help fuel the jewelery chain’s growth and expansion, with plans to add 18 to 20 stores annually, the statement added.