Should You Purchase on the Last Day of the Senco Gold IPO?

<p>The Rs 405 billion public offering is scheduled to end on July 6. According to subscription statistics made public on exchanges, the issue had a respectable response from investors on its second day of bidding, subscribing 2.07 times.</p>
<p>Senco Gold IPO: Status of Subscription</p>
<p>Retail investors and high-net-worth people have continued to lead the way in promoting the offer so far, purchasing 3.05 times and 2.34 times the permitted quota, respectively, while qualified institutional investors have bought 14% of the shares reserved for them.<img decoding=”async” class=”alignnone wp-image-61082″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-should-you-purchase-on-the-last-day-of-the-senco-gold-ipo-jewelry-gold-market-picture-id532239989-696×435-1.jpg” alt=”” width=”1546″ height=”966″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-should-you-purchase-on-the-last-day-of-the-senco-gold-ipo-jewelry-gold-market-picture-id532239989-696×435-1.jpg 696w, https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-should-you-purchase-on-the-last-day-of-the-senco-gold-ipo-jewelry-gold-market-picture-id532239989-696×435-1-150×94.jpg 150w” sizes=”(max-width: 1546px) 100vw, 1546px” /></p>
<p>Senco Gold IPO: Date of Allotment and Listing</p>
<p>The credit of shares will occur on July 13, while the allocation of shares is set for July 11. On July 14, the shares will go public on stock markets. According to the highest price range, the company is worth Rs 2,460 crore.</p>
<p>IPO for Senco Gold: OFS</p>
<p>The issue comprises of a new issue for Rs 270 crore and an offer-for-sale by the issue’s promoter SAIF Partners India IV Ltd. for up to Rs 135 crore. SAIF Partners has a 19.23% interest in the company.</p>
<p>IPO Price Band for Senco Gold</p>
<p>The price range for the offering has been set by the business at Rs. 301-317 per share. The offer is restricted to qualified institutional purchasers to the extent of 50%, non-institutional buyers to the extent of 15%, and retail investors to the extent of 35%.</p>
<p>Senco Gold IPO: Goals</p>
<p>The business plans to use the proceeds from the new issuance to support general corporate needs and working capital requirements.</p>
<p>Senco Gold IPO: Company Information</p>
<p>The biggest organized jewelry retailer in eastern India is Senco Gold. Jewelry made of gold, diamonds, platinum, silver, and other precious and semi-precious stones and metals are what the firm sells most often. It operates 136 showrooms in 96 cities and towns throughout 13 states in India.</p>
<p>IIFL Securities, Ambit Pvt Ltd, and SBI Capital Markets Ltd are the book-running lead managers for the Senco Gold IPO, while Kfin Technologies is the IPO registrar.</p>
<p>Senco recorded sales of Rs 4,077.40 crore for FY23 as opposed to Rs 3,534.64 crore the previous year, while its net profit was Rs 158.48 crore as opposed to Rs 129.10 crore.</p>
<p>GMP Senco Gold IPO</p>
<p>According to experts who spoke on the condition of anonymity to Moneycontrol.com, shares of jewelry retailer Senco Gold enjoyed a premium of more than 35% above the high end of the price range on the grey market. Investors in IPOs were cautioned by stock market professionals to base their decisions only on GMP. GMP data, according to analysts, is unofficial and unregulated. The financial health of the business is unrelated. They recommended investors to examine the specific fundamentals listed on the company’s balance sheet.</p>
<p>What Claim Analysts?</p>
<p>Hem Securities appreciates the company’s business strategy and the pace of development at which its top and bottom lines have increased over time. The brokerage suggests subscribing to the issue based on the issue’s respectable financials and acceptable value.</p>
<p>According to Canara Bank Securities, “the company’s debt to equity stands at 1.25x for FY2023 as compared to the industry average of 0.80x, which can put pressure on the company’s future prospects.” As a result, they cautioned investors to be wary of the company’s rising debt.</p>

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