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Senco Gold shares list at 36% premium to issue price

Jul 14, 2023

By: BlinkX Research Team

Senco Gold shares listed made a bumper listing on Friday. The stock of Senco Gold is listed at a 35.9% premium over the IPO price on NSE and BSE. 

The share debuted at Rs 431 on the BSE compared to the issue price of Rs 317. The scrip touched a high of Rs 441.85 on the BSE today. 

The Rs 405 crore IPO was a combination of fresh issues and the OFS portion. The fresh equity issue was of Rs 270 crore, and the OFS segment aggregated up to Rs 135 crore.

Senco Gold IPO issue was fully subscribed 77.25 times on the last day of subscription, helped by overwhelming participation from institutional buyers. The Qualified Institutional Buyers (QIBs) category was subscribed 190.56 times, the portion for non-institutional investors received 68.44 times subscription and Retail Individual Investors (RIIs) quota got oversubscribed by 16.28 times.

This IPO opened for subscription on July 4.

The price band for its public issue at Rs 301-317 per equity share with a face value of Rs 10 each. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 405 crore from the IPO.

The company has a strong financial track record with consistent dividends and robust return ratios, according to analysts. It has crossed sales of over Rs 4000 crore in FY23 with a return ratio ROE of 18.9% and ROCE of 14.2% at the end of last fiscal.

Source: Media reports