Kolkata-headquartered jewellery retailer Senco Gold and Diamonds, which received funding of Rs 80 crore from SAIF Partners in October 2014, plans to raise capital through an Initial Public Offering by 2017-18.
“Whatever money we have with us is not sufficient for Senco’s expansion plans and hence we want to raise capital through an IPO by 2017-18,” Executive Director Suvankar Sen told PTI.
“We are confident of getting listed. We have got our auditors – KPMG and E&Y. We have implemented strong software like Microsoft DX to control our expansion,” he said.
Sen said he is optimistic of the industry benefitting from the Narendra Modi government as he feels the economy will see growth from 2017 onwards.
“Modi has made the availability of gold easy – that has helped the industry. We don’t see Modi reducing the duties because gold prices have anyway come down and this industry employs a lot of people… So from 2017 onwards, the economy will see growth. I am optimistic,” he said.