Senco Gold Ltd. Launches QIP to Raise ₹500 Crore at Discounted Price of ₹1,139.49 per Share

Senco Gold Ltd. launched its Qualified Institutional Placement (QIP) on December 10, with a floor price of ₹1,139.49 per share, representing a 2% discount to Tuesday’s closing price of ₹1,169.5. The stock is currently down 24% from its record high of ₹1,544 per share.

In October, the company’s board approved raising up to ₹500 crore through QIP or other permissible methods. This marks the second fundraise since its Initial Public Offering (IPO), where Senco raised ₹270 crore at ₹317 per share.

Additionally, Senco Gold’s board approved a stock split, marking the first such move since its July 2023 IPO. The company is also planning to open 18 to 20 new stores this fiscal year, including both company-owned and franchise locations.