Senco Gold IPO allotment today: Check your application status and latest GMP
Senco Gold IPO allotment today: Check your application status and latest GMP
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.
Senco Gold is likely to finalise the basis of allotment of its shares on Tuesday. The Rs 405-crore initial public offering (IPO) of the pan-India jewelry retailer has received a strong response from the investors during the three-day bidding process.
Incorporated in 1994, Senco Gold is a jewellery 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 primary offering of Senco Gold was overall subscribed 77.25 times between July 4-6. The company sold its shares in the price range of Rs 301-317 apiece. The company will be listed at the bourses on Friday, July 14.
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.
Last heard, Senco Gold was commanding a premium of Rs 120-125 per share in the grey market. The premium in the unofficial market has remained stable for Senco Gold. It has gyrated in the range of Rs 110-125 apiece for the last 4-5 days.
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, which is www.bseindia.com/investors/appli_check.aspx. One can check the equity option under issue type and select the company name from the dropbox. Then, one just needs to fill in the application number and PAN card ID to check the allotment status.
The second alternative to check the allotment status is visiting the registrar’s portal, which is KFin Technologies Limited in the case of Cyient DLM. Investors can also check the allotment status on the website of the registrar at https://kosmic.kfintech.com/ipostatus to see if they have received the shares or not.
Bidders who could not get allotment in the IPO may see the initialization 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.
#modernbusinessnetwork #modernbusinessindia #modernglobalnews #modernglobalbusiness #modernbusinessaward #Enterpreneurship #Startup #Enterpreneurlife #Smallbusinessowner #Sales #smallbusiness #supportsmallbusiness #handmade #shoplocal #shopsmall #investing #wealth #money
