Senco Gold will raise Rs 459 crore through QIP and allot 40.8 lakh shares.

Kolkata-based jewelery retail chain Senco Gold Limited said it has raised Rs 459 crore through Qualified Institutions Placement (QIP) by allocating 40.8 lakh equity shares. The QIP Committee of the company’s Board of Directors has approved the issuance and allotment of equity shares of Rs 10 each at a price of Rs 1,125 per share including premium of Rs 1,115, Senco Gold said in a regulatory filing on Friday evening.

After the QIP, the company’s paid-up capital increased from Rs 77.72 crore (7.77 crore shares) to Rs 81.80 crore (8.18 billion shares), the company added.

Among the major allocators, Tata AIA Life Insurance Co. Four affiliated funds accounted for 14.49% of the issuance volume. On a stand-alone basis, Tata Multicap Fund accounted for the largest share of issuance volume at 8.77%, followed by Tata AIA Life Insurance Co. Ltd’s Emerging Opportunities Fund (6.40%), ICICI Prudential Life Insurance Co. Ltd (6.54%) followed. ).

Other major investors include 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 jewelry chain fuel growth and expansion, with plans to add 18 to 20 stores each year, the statement added.