Senco Gold Ltd Company Summary

Senco Gold Ltd Summary

Senco Gold Ltd. was originally incorporated as a Private Limited Company with the name Senco Gold Private Limited at Kolkata, West Bengal, dated August 22, 1994. Subsequently, on August 8, 2007, the Company was converted to Public Company with the name Senco Gold Limited dated August 31, 2007, and a fresh Certificate of Incorporation, consequent to change in name, was issued by the RoC.The Company primarily sell gold and diamond jewellery and also sell jewellery made of silver, platinum and precious and semi-precious stones and other metals. Their other offerings include costume jewellery, gold and silver coins and utensils made of silver. In these categories, it offer wedding jewellery, festival jewellery, daily wear jewellery, mens jewellery, kids jewellery and jewellery for personal occasions. It offer a wide variety of jewellery options, including necklaces, bangles, rings, earrings, pendants, bracelets, mangtika, mangalsutra and chains. The products are sold under the Senco Gold & Diamonds tradename, through multiple channels, including 70 Company Operated Showrooms and 57 Franchisee Showrooms (including 4 franchisee owned and Company operated Showrooms).Their products represent designs from a wide range of cultures from traditional Indian design to Indo-western and Western designs. These products reflect specialised design elements from Kolkata. Kolkata craftsmanship, and in particular that of the Karigars engaged by them, is popular for intricate filigree work and workmanship with thin gold wires and small beads. It is also known for its nakashi workmanship with etching and curving in gold. The Company has one manufacturing facility, which is located at Ankurhati, in Howrah, West Bengal. It make wholesale exports of jewellery primarily to the Dubai, Malaysia and Singapore. This facility also produces jewellery using modern technologies such as 3D printing, CAD driven designing and laser cutting.In 2000, the Company opened their first franchisee, Guinea Gold in Asansol, Beniachiti.In 2002, it set up a first showroom in Moulali with an area of over 8,000 sq. ft. In 2005, it started business operations in the SEZ unit located at Manikanchan.In 2007, the Company took over of the business of Senco Gold Museum and Senco Gold Mart. In 2011, it opened first showroom outside the State of West Bengal. On October 8, 2014, 100 Equity Shares were allotted to SAIF Partners India IV Limited on account of the investment by SAIF Partners India IV Limited in the Company pursuant to the subscription agreement dated September 26, 2014. Senco Gold Impex Private Limited (SGIPL), the erstwhile wholly owned subsidiary of Company merged with the Company under a Scheme of Arrangement for Amalgamation, which was approved by the High Court of Calcutta by an Order dated April 22, 2014. The Appointed Date for the merger was April 1, 2013. Pursuant to this scheme, from the Appointed Date, all the businesses of SGIPL were transferred to and vested in the Company.Addyashakti Properties Private Limited (APPL), the erstwhile wholly owned subsidiary of Company, merged with the Company pursuant to a Scheme of Arrangement for Amalgamation which was approved by the High Court of Calcutta by an Order dated June 14, 2016 . The Appointed Date for the merger was April 1, 2015. Pursuant to this scheme, from the Appointed Date, all the businesses of APPL were transferred to and vested in the Company.In 2016, the Company introduced Everlite brand, which focused on light and affordable diamond jewellery. It opened a branch in the southern region of Bengaluru.In 2018, it added 11 new showrooms across regions, taking the total showroom account to 90. Further, it introduced Aham Mens Jewelry in the market. In year 2020, it launched 2 DSignia showrooms targeting elite class. It opened the first Everlite showroom and in 2021, further opened 6 new COCO showrooms, 3 in Kolkata, 2 in UP and 1 in Pune. It signed MoU with Mobotics for digital foray. It opened 4 new Model FOCO showrooms.The Company is planning to raise capital from Public Rs. 525 crores through Fresh Issue amounting to Rs. 325 crores and Offer for Sale amounting to Rs. 200 crores.