Karnataka News Network

Tomorrow is the opening day for the Senco Gold IPO. Should you subscribe?

<p>On July 4, subscriptions for Senco Gold’s first public offering (IPO) will be made available. The deadline is July 6. Both markets are likely to list the company’s shares.</p>
<p>Senco Gold IPO: Date of Allotment and Listing</p>
<p>The credit of shares will occur on July 13, while the allocation of shares is set for July 11. On July 14, the shares will go public on stock markets. According to the highest price range, the company is worth Rs 2,460 crore.<img decoding=”async” class=”alignnone wp-image-54920″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-tomorrow-is-the-opening-day-for-the-senco-gold-ipo-should-you-subscribe-download-2023-07-03t132055.964.jpg” alt=”” width=”1328″ height=”737″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-tomorrow-is-the-opening-day-for-the-senco-gold-ipo-should-you-subscribe-download-2023-07-03t132055.964.jpg 301w, https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-tomorrow-is-the-opening-day-for-the-senco-gold-ipo-should-you-subscribe-download-2023-07-03t132055.964-150×83.jpg 150w” sizes=”(max-width: 1328px) 100vw, 1328px” /></p>
<p>IPO for Senco Gold: OFS</p>
<p>The issue comprises of a new issue for Rs 270 crore and an offer-for-sale by the issue’s promoter SAIF Partners India IV Ltd. for up to Rs 135 crore. SAIF Partners has a 19.23% interest in the company.</p>
<p>IPO Price Band for Senco Gold</p>
<p>The price range for the offering has been set by the business at Rs. 301-317 per share. The offer is restricted to qualified institutional purchasers to the extent of 50%, non-institutional buyers to the extent of 15%, and retail investors to the extent of 35%.</p>
<p>Senco Gold IPO: Goals</p>
<p>The business plans to use the proceeds from the new issuance to support general corporate needs and working capital requirements.</p>
<p>Senco Gold IPO: Company Information</p>
<p>The biggest organized jewelry retailer in eastern India is Senco Gold. Jewelry made of gold, diamonds, platinum, silver, and other precious and semi-precious stones and metals are what the firm sells most often. It operates 136 showrooms in 96 cities and towns throughout 13 states in India.</p>
<p>IIFL Securities, Ambit Pvt Ltd, and SBI Capital Markets Ltd are the book running lead managers and Kfin Technologies is the IPO registrar for the Senco Gold IPO.</p>
<p>Senco recorded sales of Rs 4,077.40 crore for FY23 as opposed to Rs 3,534.64 crore the previous year, while its net profit was Rs 158.48 crore as opposed to Rs 129.10 crore.</p>
<p>GMP Senco Gold IPO</p>
<p>The Grey Market Premium (GMP) for the Senco Gold IPO is Rs 55. Investors in IPOs were cautioned by stock market professionals to base their decisions only on GMP. GMP data, according to them, is unauthorized and unregulated. The financial health of the business is unrelated. They recommended investors to examine the specific fundamentals listed on the company’s balance sheet.</p>
<p>What Claim Analysts?</p>
<p>Senco Gold’s initial public offering (IPO), according to analysts at SMIFS Ltd, is attractively priced, and the company is well positioned to profit from both the expected growth rate in the jewelry industry and the structural shift from an unorganized to an organized sector thanks to its strong brand name and five-decade-long history.</p>
<p>“Company has shown one of its peers’ finest financial results. As a result, we apportion Subscribe for listing gain according on current performance. Senco is fetching a P/E multiple of 13.9x at higher price bands, which is less than the peer average, according to a research from the analysts at SMIFS Ltd.</p>

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