Senco Gold Listing: Jewelery retail company Senco Gold will be listed on the stock exchange on Friday, July 14, 2023. And there is every possibility that this listing can be bang. Looking at the gray market price of Senco Gold, it is believed that the IPO may be listed at a premium of 35 to 40 per cent. Senco Gold’s IPO got a great response from the investors. That is, looking at the GMP, it is being estimated that the stock can be listed on the stock exchange around Rs.440.
Sonco Gold’s IPO was open from 4th July to 6th July. The company has raised Rs 405 crore from the market through IPO. Total IPO has been subscribed 73.35 times. Shares have been allotted to the lucky investors who have applied in the IPO on 11th July, who have been allotted shares. The company had fixed the price band of IPO at Rs 301-317 per share. With the amount raised from the IPO, the company will spend on meeting other capital funding and on general corporate needs.
The response to the IPO can be gauged from the fact that the reserve quota for institutional investors has been subscribed a total of 181 times. The quota for non-institutional investors was subscribed 65 times and the reserve quota for retail investors was subscribed 15.46 times.
Senco Gold is one of the largest retail jewelry company in Eastern India. The company sells gold, diamond, platinum jewelry as well as silver jewelry. The company is also present on online platforms. The company has a total of 136 showrooms, out of which 75 showrooms are owned by the company itself. And 61 stores are operating on franchisee malls. The company’s showrooms are in 96 cities. More than 60 percent of the company’s showrooms are present in West Bengal. In the financial year 2022-23, the company’s income was Rs 4108 crore and the profit was Rs 158 crore.
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