Published
May 29, 2018
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Senco Gold plans massive Rs 1000 crore expansion

Published
May 29, 2018

Jewellery major Senco Gold and Diamonds is planning to expand aggressively in the Indian market and earmarked Rs 1,000 crore on pan India expansion on the next five years.
 

Senco Gold plans massive Rs 1000 crore expansion - Senco - Facebook


The company will add as many as 109 stores over the next five years to take its store count to 200 from the current 91. The Kolkata based firm already has a strong presence in the eastern states and will be expanding into the Northern region in the coming years.
 
"We currently have 91 stores pan-India, most of which are in the eastern region. We are planning to reach 200 stores in the next five years, with a focus on the northern and eastern regions," Senco Gold and Diamonds executive director Suvankar Sen was quoted as saying by PTI.

The funds for the expansion will be raised through an IPO (initial public offering), which the company is expected to flout in the current financial year.
 
"We are planning to raise the fund for expansion through the capital market. We expect to bring out the Rs 700-800 crore IPO (initial public offering) in this financial year if everything falls into place in time," he added.
 
Senco Gold and Diamonds is one of India’s top jewellery retailers and has 91 stores across the country. It also exports gold and diamond jewellery to the Middle East, Singapore, UK, and the USA.

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