10 things you need to know about Senco Gold IPO that opened today 

The initial public offering (IPO) of jewellery retailer Senco Gold Ltd opened on July 4, and is set to close on July 6. The Federal lists 10 things you need to know about the issue, through which the company aims to raise Rs 405 crore.

1. The IPO price band has been fixed at Rs 301-317 apiece.
2. Bidding for anchor investors opened on July 3. Interested parties were required to place bids for a minimum of 47 shares of Rs 10 apiece, and in multiples thereof. (Anchor investors are institutional investors invited by a company to subscribe to its shares just before launching an IPO to retail investors. The idea is to draw retail investor interest in the share sale.)
3. The Senco IPO consists of a fresh issue of equity shares, amounting to Rs 270 crore, and an offer-for-sale of equity shares by existing shareholders worth Rs 135 crore.
4. Existing shareholders in Senco include several big private equity and other institutions such as SAIF Partners India, and a partnership entity of Oman Investment Authority and State Bank of India. 
5. While SAIF is divesting a part of its stake in Senco, the other entity is retaining its stake. 
6. Out of the Rs 270 crore raised, the company plans to utilise Rs 196 crore to fund its working capital requirements. The balance will be allocated for general corporate purposes. 
7. Senco operates 140 showrooms across 13 states, with a significant 63 per cent of them located in West Bengal. 
8. The company also sells its products through various online platforms and engages in wholesale exports, primarily to Dubai, Malaysia, and Singapore.
9. IIFL Securities Ltd, Ambit Pvt Ltd, and SBI Capital Markets Ltd have been appointed as the book-running lead managers for the issue. Retail investors opting for the IPO will be buying the shares through these managers.
10. The equity shares are proposed to be listed on the BSE and NSE.