JSA advised Senco Gold Limited on making qualified Institutional Placement (QIP) of 4,080,000 equity shares to qualified institutional buyers aggregating to ₹459 crore.
The transaction team consisted of Arka Mookerjee (Lead Partner), Pracheta Bhattacharya (Partner), Sourav Modi (Senior Associate), Vatsla Varandani (Associate), Ritu R Jaiswal (Associate) and Palak Karundia (Associate).
Ambit Private Limited and Emkay Global Financial Services Limited were the book-running lead managers to the QIP. JSA also advised Senco on its IPO last year.
The company set a floor price of ₹1,139.49 per share for the QIP. Subsequently, Senco Gold successfully raised ₹459 crore by allotting 40.8 lakh equity shares at ₹1,125 per share, including a premium of ₹1,115.
Major investors in the QIP included Tata AIA Life Insurance Co., ICICI Prudential Life Insurance Co. Ltd., BOFA Securities Europe SA, and Bank of India Flexi Cap Fund.
This capital infusion is intended to support the company's expansion plans, which include opening 18 to 20 new stores annually. Following the QIP, the company's paid-up equity share capital increased to ₹81.80 crore, comprising 8.18 crore shares, up from ₹77.72 crore (7.77 crore shares).
Senco Gold Limited, a Kolkata-based jewellery retail chain, has been expanding its footprint across India, operating over 140 stores in more than 100 cities.
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