Senco Gold IPO received 38% subscription on its first day, with retail receiving 65%

    Senco Gold, which has been in business for over five decades, runs 75 owned showrooms and 61 franchisee showrooms.

    Senco Gold’s initial public offering (IPO) received bids for 35.54 lakh equity shares against an IPO size of 94.18 lakh shares by the morning of July 4, the first day of bidding.

    Retail investors have purchased 65 percent of the allocated quota, while high-net-worth people have purchased 25 percent of the allotted quota.

    658 shares of the reserved part have been bid on by qualified institutional purchasers.

    Qualified institutional investors will get half of the offer. High-net-worth people will receive 15% of the deal, while regular investors would receive 35%.

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    The Kolkata-based jewelry manufacturer intends to raise Rs 405 crore through its initial public offering, with a price range of Rs 301-317 per share.

    Senco Gold IPO

    The IPO consists of a new issue of Rs 270 crore by the firm and a Rs 135 crore offer for sale by investor SAIF Partners.

    The business has already collected Rs 121.49 crore through its anchor book, which has garnered positive feedback from investors. As a result, the issue size has decreased from 1.34 crore shares before the anchor book to 94.18 lakh equity shares.

    Some of the anchor book’s investors include Whiteoak Capital, Jupiter India Fund, Templeton India Value Fund, Max Life Insurance Company, Sundaram Mutual Fund, BNP Paribas Arbitrage – ODI, and Societe Generale.

    The proceeds of the new issuance are primarily used to meet the company’s working capital requirements, as well as for general corporate reasons.

    The deal will expire on July 6.

    Senco Gold, which has been in business for over five decades, runs 75 owned showrooms and 61 franchisee showrooms.

    Priyanka Sawant
    Priyanka, an exceptional article writer, is a prized asset at our news website. Her ability to craft engaging narratives that dissect complex current events is unmatched. With a keen eye for detail and a passion for factual accuracy, Priyanka delivers articles that inform, inspire, and keep our readers well-informed. Her dedication to journalistic excellence makes her an invaluable contributor to our team and a trusted source of insightful news coverage.

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