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.
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