What does Spencer and Company Limited do?

Spencer and Company Limited is a holding and investment company incorporated in 1918 and based in Chennai, Tamil Nadu. It functions as a conglomerate holding entity, historically linked to the broader Spencer's brand in India which was associated with retail and other diversified businesses under the RPG Group umbrella.

Is Spencer and Company Limited related to Spencer's Retail?

Spencer's Retail Limited (listed on NSE/BSE) is a separate entity under the RP-Sanjiv Goenka Group. Spencer and Company Limited (Chennai, incorporated 1918) is a legacy holding company that shares historical roots with the Spencer's brand but is a distinct unlisted entity operating primarily as an investment company.

What is the share price of Spencer and Company Limited?

The unlisted share of Spencer and Company Limited is priced at approximately ₹651 per share in the unlisted market, significantly above its face value, reflecting underlying net asset value of its investment portfolio.

Is Spencer and Company Limited planning an IPO?

There is no publicly available information indicating any IPO plans for Spencer and Company Limited as of mid-2025. It continues to operate as an unlisted holding company.

How do I buy Spencer & Company (RPG) unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Spencer & Company (RPG)?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Spencer & Company (RPG) shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Spencer & Company (RPG) Unlisted Share Price | Buy Spencer & Company (RPG) Pre-IPO Shares — wisefolio

Investment Thesis

Spencer and Company Limited is a rare pre-independence era holding company (est. 1918) based in Chennai, functioning as an investment entity within a diversified conglomerate structure. Its share price of ₹651 in the unlisted market reflects underlying asset value, but the absence of an ISIN, public financials, and detailed promoter disclosures creates significant information asymmetry. The company's primary value lies in its legacy portfolio holdings and the strength of the broader group it is associated with.

Pros

One of India's oldest incorporated companies, established in 1918, with over a century of operating history as a holding and investment entity in Chennai.
Historically associated with the RPG Group (Rama Prasad Goenka Group), one of India's prominent diversified conglomerates with interests in retail (Spencer's Retail), tyres (CEAT), power, and IT.
Share price of ₹651 well above face value, indicating tangible underlying asset or investment value within the company.

Cons

Operates as a holding and investment company with no active business operations of its own, making revenue generation dependent on investee company performance.
No ISIN available, limiting secondary market tradability and investor access to the stock.
As an unlisted holding company with minimal public disclosure, NAV and portfolio composition are difficult to verify independently.

Business Segments

Holding & Investments

Investment holding activities including equity stakes in other companies, generating income from dividends, interest, and capital appreciation.

Revenue Model

As a holding and investment company, Spencer and Company Limited earns income primarily through dividends from investee companies, interest on loans and deposits, and potential capital gains from sale of investments.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds6

Growth Plans

Any restructuring or monetization of legacy investment portfolio could unlock significant value.

Growing NAV through appreciation in equity investments if linked to listed group entities.

Industry Tailwinds

Any restructuring or monetization of legacy investment portfolio could unlock significant value.

Growing NAV through appreciation in equity investments if linked to listed group entities.

Recent Developments

RPG Group continues strong performance across listed entities

RPG Group's listed entities including CEAT Tyres, KEC International, and Saregama India continue to deliver strong performance. Spencer and Company as the holding entity benefits from the group's overall growth trajectory.

2024-2025

Comparable Companies

CompanyTypeTickerMkt Cap

Spencer's Retail LimitedListedSPENCERS1500 Cr

CEAT LimitedPE: 18xxListedCEATLTD8000 Cr

Spencer's Retail LimitedListed

SPENCERS · 1500 Cr

CEAT LimitedListed

CEATLTD · 8000 Cr

PE: 18xx

Frequently Asked Questions

About Spencer & Company (RPG)

Spencer and Company Limited is one of India's most historically significant companies, incorporated in 1918 in Chennai and a foundational entity of the RPG Group — one of India's largest business conglomerates. With CIN U74999TN1918PLC002341, the company represents over a century of corporate heritage dating to the British colonial era when Spencer's was a renowned retail and trading house in Madras. Spencer and Company is associated with the RPG Group, led by the Goenka family with Sanjiv Goenka as the key promoter. The RPG Group encompasses a diversified portfolio of businesses including CEAT Tyres, KEC International (power transmission), RPG Life Sciences (pharmaceuticals), Raychem RPG (cables), Spencer's Retail (supermarkets), Saregama India (music label), and Zensar Technologies (IT services). The directors of Spencer and Company Limited include Sanjiv Goenka, Anant Vardhan Goenka, Gayathri Tirumani Neelakantan, Umang Kanoria, and Padmanabhapanicker Rajagopalan — a board composition reflecting RPG Group's senior leadership. The company functions as a holding and investment entity within the RPG Group structure. With revenues in the Rs 1-100 crore range as of FY2022, Spencer and Company operates as a corporate holding entity rather than a major operating business. Its significance is primarily as the historical flagship and holding entity of one of India's largest and most respected business groups — RPG Group with combined group revenues exceeding Rs 25,000 crore across all listed and unlisted entities.

Key Milestones

Founded in 1918 in Chennai, Tamil Nadu, making it one of India's oldest incorporated companies.

Common questions about unlisted shares

How do I buy Spencer & Company (RPG) unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

Spencer and Company Limited

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