Senco Gold is expected to finalise the basis of allotment of its shares today, 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. Senco Gold shares will be listed on NSE and BSE on Friday, July 14
The Senco Gold IPO recorded the highest subscription after ideaForge Technology this calendar year. The issue was subscribed 73.35 times during July 4-6. Qualified institutional investors' (QIB) quota was subscribed 181 times. High net-worth individuals (HNIs) bid 65 times the portion set aside for them, and the portion reserved for retail investors was booked 15.5 times
Considering the huge subscription demand and having more positives than negatives, Senco Gold shares are also in demand in the grey market. Senco Gold shares were commanding a grey market premium of around Rs 118 - 120 on Tuesday, a 35-37% premium over the expected issue price of Rs 317 per share
Other reasons that boosted Senco Gold GMP included its strong presence and brand name in eastern India with extensive retail network of 136 showrooms, reasonable valuations compared to listed peers such as Titan Company, Kalyan Jewellers India, a legacy of over five decades, asset-light franchise model, and rising urbanisation with increasing disposable income levels
Investors who participated in the IPO can check their share allotment status either the BSE website.
a) Select issue type 'Equity', and issue name 'Senco Gold Limited'
b) Enter either 'Application Number' or 'PAN Number'
c) Check box 'I am not a robot' and finally click on 'Search' button
Investors who applied for Senco Gold IPO can check the share allotment status through IPO registrar's portal.
a) Select IPO 'Senco Gold Limited' in the dropdown
b) Select and accordingly enter either 'Application Number', or 'Demat Account', or 'PAN Number'
c) Enter captcha and finally click on 'Submit' button
Senco Gold equity shares will be transferred to demat accounts of eligible investors by Thursday, July 13. They will get shares proportionately due to tremendous demand for the issue. Eligible investors will get at least 1 lot of Senco Gold comprising 47 shares. Unsuccessful participants will get the refunds in their bank accounts by Wednesday, July 12
The Rs 405-crore public issue of Kolkata-based jewellery retailer Senco Gold comprised of a fresh issue of Rs 270 crore and an offer-for-sale of Rs 135 crore by investor SAIF Partners India IV who has been an investor in the company since 2014. The price band for the offer was Rs 301-317 per share
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