Senco Gold IPO Makes Market Debut At A Healthy Premium of 35%

On Friday, Senco Gold Ltd. shares were listed at a healthy premium on the stock exchanges. The stock was listed at a price of Rs 430 per share on the NSE and Rs 431 per share on the BSE, which is around 35.6% more than the issue price of Rs 301 to Rs 317 per share.

On Friday, Senco Gold Ltd. shares were listed at a healthy premium on the stock exchanges. The stock was listed at a price of Rs 430 per share on the NSE and Rs 431 per share on the BSE, which is around 35.6% more than the issue price of Rs 301 to Rs 317 per share. The public issue, which went on sale for subscription on Tuesday, July 4 ended on Thursday, July 4. Retail investors' quota was subscribed 16.28 times, QIBs' portion was subscribed 190.56 times, and NII's portion was subscribed 68.44 times on the last day of the subscription. Senco Gold IPO was subscribed 77.25 times. Senco Gold's IPO of Rs 405 crore was subscribed by 77.25 times. In contrast to the 94.2 lakh shares that were being offered, bids for a total of 69.1 crore shares were received.

Nirav Karkera, Head of Research, Fisdom said "The company is poised to capitalise on strong growth opportunities emerging at a sector as well as business level. At the same time, regional concentration and increasing competition by organised and unorganised players stand as imminent challenges to growth. Concerns around balance sheet health also remain. Shorter-term investors can look to book gains partially. Longer term investors seeking incremental allocation may do better by waiting for a couple more trading sessions and let the shares' price find firm ground as some of the possible listing froth settles."

IIFL Securities Ltd, Ambit Private Limited, and Sbi Capital Markets Limited are the offer's book-running lead managers. The company's promoters are Mr. Suvankar Sen, Om Gaan Ganpataye Bajrangbali Trust, and Jai Hanuman Shri Siddhivinayak Trust.
India-wide jewellery sales are handled by Senco Gold Limited under the brand "Senco Gold Diamonds".

One more company got listed today with approximately 36% listing gains, yes, we are talking about Senco Gold Ltd. Investors are happy with it as this premium listing added a golden shine to their portfolio. In case you have missed this IPO or did not get an allotment, no need to worry about it. Now it is available for trading in secondary markets at NSE and BSE both. Its issue price was Rs. 317 and it got listed above Rs 430, made a high of Rs 444 and currently trading at 414. Now for any fresh long positions, we should wait for 426, above this long positions could be initiated. Target price 450/460/470/500/520/535/550 and stop loss should be at 387. Give it some time to prove its strength in post-IPO markets too", says V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT).

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