Senco Gold IPO allotment: Check application status and grey market premium

Senco Gold is likely to finalise the basis of allotment of its shares on Tuesday, July 11, 2023. The initial public offering (IPO) of the pan-India jewellery retailer received a strong response from the investors during the three-day bidding process. The company will be listed at the bourses on Friday, July 14.

Incorporated in 1994, Senco Gold is a pan-India jewelry retailer, which sells its products under its brand name 'Senco Gold & Diamonds' through its 136 showrooms across 96 cities and towns in 13 states throughout the country. It is the largest organized jewelry retailer in eastern India in terms of number of stores.

The Rs 405-crore IPO of Senco Gold was overall subscribed 77.25 times. The issue was open for subscription between July 4-6 in the price range of Rs 301-317 per share. Last heard, Senco Gold was commanding a premium of Rs 125-130 per share in the grey market, which was around Rs 110 on Friday.

The quota reserved for qualified institutional bidders (QIBs) was subscribed a whopping 190.56 times, while the portion for non-institutional bidders (NIIs) was booked 68.44 times. The allocation of retail investors was subscribed 16.28 times during the three-day bidding process.

Also Watch: Tata Technologies IPO GMP at Rs 100 even before official price band announcement; check details of Tata Group's 1st IPO in 19 years

Senco Gold majorly sells gold and diamond jewelry along with jewelry made of silver, platinum, precious and semi-precious stones, and other metals. It also offers costume jewelry, gold, and silver coins, and utensils made of silver. The company also manufactures machine-made lightweight gold and diamonds jewelry and source jewelry from third-party vendors.

 

Brokerage firms are majorly positive on the issue and suggest investors to subscribe for it citing the growth potential, strong market share, sound financial performance and structural shift. However, others believe that the issue is aggressively priced, leaving limited upside potential on the table.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity
3) Under the issue name, select Senco Gold Limited in the dropbox
4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately

7) Hit submit.

 

Bidders who could not get allotment in the IPO may see the initialisation of refunds on Wednesday, July 12. Others, who would be allotted shares may see the credit of shares, in the Demat account by Thursday, July 13.

 

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)

Watch: Oppo Reno 10, Reno 10 Pro and Reno 10 Pro+ launched; Check out the price, camera and specs of the latest Oppo lineup

Watch: Buzzing stocks on July 10, 2023: ZEEL, Olectra Greentech, RIL, SpiceJet, Tata Motors, Gati others

Watch: Rikkie Valerie Kolle, first transgender model to be crowned Miss Netherlands, second trans model at Miss Universe pageant after Angela Ponce; Know about Miss Transqueen India 2023, Arshi Ghosh

Watch: Salaar Part 1: Ceasefire; Crossover between KGF and Prabhas’ film confirmed as fan unearths a clue in both films of Prasanth Neel, Prabhas rumoured fee and more

Also read: ZEE shares tumble 6% as SAT dismisses appeal against Sebi order on Punit Goenka, Subhash Chandra 

Also read: Hot stocks on July 10, 2023: RailTel, IIFL Finance, Tata Motors, Suzlon Energy and more