Senco Gold Limited (the “Company”) proposes to open for subscription an initial public offering of equity shares of face value of ₹ 10 each (“Equity Shares”)aggregating up to ₹ 4,050 million (“Offer”) on Tuesday, July 04, 2023. The initial public offering comprises a fresh issue of equity shares aggregating up to ₹ 2,700 million (“Fresh Issue”) and an offer for sale by SAIF Partners India IV Limited (the “Selling Shareholder”) of equity shares aggregating up to ₹ 1,350 million (the “Offer for Sale”). The anchor investor bidding period is Monday, July 03, 2023. The Offer will close on Thursday, July 06, 2023.
The Price Band of the Offer has been fixed from ₹ 301 to ₹ 317 per equity share. Bids can be made for a minimum of 47 equity shares and in multiples of 47 equity shares thereafter.
The Company proposes to utilize the net proceeds of the Fresh Issue towards funding working capital requirement of the Company which is estimated to be ₹ 1,960 million and balance amount towards general corporate purposes. (the “Objects of the Issue”) The Equity Shares are being offered through the red herring prospectus (“RHP”) of the Company dated June 27, 2023 filed with Registrar of Companies, West Bengal at Kolkata (“ROC”) and are proposed to be listed on BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”). For the purposes of the Offer, the NSE is the Designated Stock Exchange.
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”), read with Regulation 31 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulation”). The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than
50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that our Company and SAIF Partners India IV Limited (the Selling Shareholder) in consultation with the BRLMs (defined below) may Not for distribution outside India allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), out of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Offer Price, in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non- allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.
However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Offer shall be available for allocation to Non- Institutional Bidders out of which (a) one third of such portion shall be reserved for applicants with application size of more than two lakh rupees and up to ten lakh rupees; and (b) two third of such portion shall be reserved for applicants with application size of more than ten lakh rupees, provided that the unsubscribed portion in either of such sub- categories may be allocated to applicants in the other sub-category of non-institutional bidders and not less than 35% of the Offer shall be available for allocation to Retail
Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, (including UPI ID in case of UPI Bidders), if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable, to participate in the Offer. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For further details, see “Offer Procedure” on page 403 of the RHP.
IIFL Securities Limited, Ambit Private Limited and SBI Capital Markets Limited are the Book Running Lead Managers (“BRLMs”) to the Offer.