The QIP committee of the company’s board approved the issuance and allotment of equity shares of Rs 10 issued for Rs 1,125 per share
New Delhi: Kolkata-based jewellery retail chain Senco Gold Limited said it raised Rs 459 crore through a Qualified Institutions Placement (QIP) by allotting 40.8 lakh equity shares.
The QIP committee of the company’s board approved the issuance and allotment of equity shares of Rs 10 were issued at a price of Rs 1,125 per share, including a premium of Rs 1,115, Senco Gold said in a regulatory filing on Friday evening.
Post the QIP, the company’s paid-up equity share capital has increased to Rs 81.80 crore, comprising 8.18 crore shares, from Rs 77.72 crore (7.77 crore shares), the company added.
Among the major allottees, four funds under Tata AIA Life Insurance Co. grabbed 14.49% of the issue size. On a standalone basis, Tata Multicap Fund received the largest portion with 8.77% of the issue size, followed by Tata AIA Life Insurance Co. Ltd’s Emerging Opportunities Fund (6.40%) and ICICI Prudential Life Insurance Co. Ltd (6.54%).
Other significant investors included 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 the jewellery chain to fuel its growth and expansion, with plans to add 18-20 stores a year, the statement added.
