Tuesday, December 24, 2024
Tuesday, December 24, 2024
Home BuisnessMarket Insight Senko Gold through QIP Rs. 459 crore raised, 40.8 lakh shares allotted

Senko Gold through QIP Rs. 459 crore raised, 40.8 lakh shares allotted

by PratapDarpan
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Kolkata-based jewelery retail chain Senko Gold Ltd said it has alloted 40.8 lakh equity shares through a Qualified Institutions Placement (QIP) for Rs. 459 crores have been collected. The QIP committee of the company’s board approved the allotment of equity shares of Rs 10 each and Rs. 1,125 were issued at Rs. 1,115 inclusive of premium, Senko Gold said in a regulatory filing on Friday evening.

After the QIP, the company’s paid-up equity share capital is Rs. 77.72 crore (7.77 crore shares) to Rs. 81.80 crore, including 8.18 crore shares, the company added.

Among the major allocators, four funds under Tata AIA Life Insurance Company accounted for 14.49 per cent of the issue size. On a standalone basis, Tata Multicap Fund grabbed the largest share with 8.77 percent of the issue size, followed by Tata AIA Life Insurance Company Limited’s Emerging Opportunities Fund (6.40 percent) and ICICI Prudential Life Insurance Company Limited (6.54 percent).

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

The funds raised will help the jewelery chain accelerate its growth and expansion, with plans to add 18-20 stores a year, the statement added.

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