Senco Gold IPO: What GMP signals ahead of subscription tomorrow?

RR Kabel, a leading wires and cables manufacturer in India and part of RR Global Group, plans to go public with an initial public offering (IPO) that will include fresh equity shares worth Rs 225 crore and an offer for sale of over 1.72 crore shares by promoters and other shareholders, including TPG Capital. Proceeds from the offering will be used to pay down debt. The company reported revenues of Rs 4,386 crore for FY22 and has a market share of 8%. The book-running lead managers are Axis Capital, HSBC Securities and Capital Markets, Citigroup Global Markets India, and JM Financial.

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The IPO comprises fresh issue of equity shares worth Rs 615 crore and an offer for sale (OFS) of 44.5 lakh equity shares by promoter group entities and other shareholders, according to the draft red herring prospectus (DRHP).

The issue is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO.

Ahead of the IPO, Senco Gold raised Rs 121 crore in the anchor round, which saw the participation of marquee investors, including Nippon MF, White Oak, Jupiter asset management, Bandhan MF, and 3P India Equity Fund, among others. 3P India Equity Fund is owned by Prashant Jain.

The issue comprises offer for sale (OFS) aggregating up to 14,233,964 equity shares where International Finance Corporation l, NYLIM Jacob Ballas India Fund III LLC and Resurgence PE Investments will look to divest their stakes.

Senco Gold, a leading jewellery player in eastern India, has raised INR 121 crore in the anchor round ahead of its initial public offering (IPO). The company is offering shares in the price range of INR 301-317 and has received positive ratings from analysts. Senco Gold has an extensive retail network of 136 showrooms and specializes in the sale of gold and diamonds. The IPO consists of a mix of fresh issue and offer for sale (OFS) segments, with the proceeds being used for working capital and general corporate purposes.

The ₹550 crore initial public offering (IPO) of Mufti Menswear brand owner Credo Brands Marketing (CBML) opened for subscription on Tuesday, December 19, and will close today, December 21. The company has a price band of ₹266-280 per share for the issue.

IREDA IPO consists of a fresh issue of up to 40.3 crore equity shares and an offer for sale (OFS) of up to 26.8 crore equity shares by the government. About 50% of the IPO will be available for allocation on a proportionate basis to qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.