Bumper listing of Senco Gold shares, investors became rich

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New Delhi: The stock of Kolkata-headquartered jewelery company Senco Gold has got a bumper listing in the market today i.e. on Friday. The issue price of this IPO was Rs.317. At the same time, its listing in the stock market has been done at Rs 431. Those who invested in the IPO of Senco Gold have made bumper profits. The possibility of a good listing of this IPO was already being expressed. Investors have made a profit of about Rs 114 on each share.

Explain that experts were expecting the company’s shares to shine with a listing gain of 35 to 40 percent on the first day. Behind this, he attributed the company’s IPO to a strong process from investors, a strong brand name and a franchise model with light assets and 5 decades of experience in the industry.

Let us tell you that the IPO of Kolkata based company Senco Gold was opened on 4th July. The company is expecting to raise Rs 405 crore from the issue. This IPO was open for bidding till 6 July. The company got 73 times subscription. The highest bid was placed by the qualified institutional buyers. Who subscribed this issue 181 times. On the other hand, the company got 65 times subscription in the non-institutional investors category. If we talk about retail investors, then they got 15.5 subscription to the issue.

It opened for anchor investors on July 3 itself. For this IPO, the company had fixed a price band of Rs 301-317 per share.

Senco Gold is the largest player in Eastern India in terms of number of stores in the organized market. The company operates 136 showrooms in 96 cities and towns in 13 states across India. These showrooms collectively cover an area of ​​approximately 409,882 sq.ft. If the IPO is subscribed at the upper band, the market value of the company would be around Rs 2,460 crore. The principal business of the company is the sale of gold and diamond jewellery.

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