Senco Gold IPO: GMP, review, subscription status, other details. Apply or not? | Mint – Mint

Senco Gold IPO: The initial public offering ((IPO) of Senco Gold Limited has opened today and the public offer by the jewelry brand will remain open for subscribers till 6th July 2023. The gold and diamond jewelry seller company has fixed Senco Gold IPO price at 301 to 317 per equity share and the public offer proposes to list on NSE and BSE. According to market observers, Senco Gold shares have started to trade in unlisted stock market and shares of the jewelry company are available at a premium of 102 in grey market today.

Senco Gold IPO subscription status

On day one of bidding, the public issue has been subscribed 69% whereas its retail portion has been subscribed 1.12 times. The issue has been subscribed 62% in NII category.
Here we list out important Senco Gold IPO details that you may like to know before investing:
1] Senco Gold IPO GMP: According to market observers, Senco Gold IPO grey market premium (GMP) today is 102.
2] Senco Gold IPO price: The jewelry company has fixed price band at 301 to 317 apiece.
3] Senco Gold IPO date: The public issue will remain open for bidding from 4th July 2023 to 6th July 2023.
4] Senco Gold IPO size: The gold and diamond jewelry company aims to raise 405 crore from its public offer.
5] Senco Gold IPO lot size: A bidder will be able to apply in lots and one lot of the IPO will comprise 47 company shares.
6] Senco Gold IPO allotment date: After closure of the Senco Gold IPO subscription, share allocation is most likely to take place on 11th July 2023.
7] Senco Gold IPO registrar: Kfin Technologies Limited has been appointed as official registrar of the IPO.
8] Senco Gold IPO listing date: The public issue is proposed for listing on BSE and NSE and most likely date for share listing is 14th July 2023.
9] Senco Gold IPO review: Giving ‘subscribe’ tag to Senco Gold IPO, Geojit Finance report says, “At the upper price band of Rs.317, SGL is available at a P/E of 15.5x (FY23), lower than industry peers’ valuations. Improving economic growth, rising urbanisation, increasing disposable income levels, and mandatory hallmarking are positive for the organized players. A strong brand name and a legacy of over five decades, strong company-operated showrooms, and an established asset-light ‘franchise’ model are expected to benefit SGL. Therefore, we assign a “Subscribe” rating for the issue on a medium- to long-term basis.”
Advising investors to apply for Senco Gold IPO, SMIFS report says, “Senco with its strong brand name and a legacy of over five-decade is well placed to benefit from the expected growth rate in the jewellery industry and also benefit from structural shift from un-organised to organised sector. Company has demonstrated one of the best financial performances among peers. Hence, based on current performance, we assign SUBSCRIBE for listing gain. At higher price band, Senco is commanding a P/E multiple of 13.9x (on FY23 EPS on upper price band), which is lower than the peer average. Thus the IPO is attractively priced.”
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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