Senco Gold IPO Day 1: Issue subscribed 38% so far; retail portion booked 65%
₹405-crore Senco Gold IPO has been subscribed 38% so far on day 1 as the public issue received bids for 33.56 lakh shares as against 94.18 lakh shares on the offer. Senco Gold IPO received 65% subscription in the retail category, while the portion for Non-Institutional Investors (NII) was booked 25%. The Qualified Institutional Investors’ (QIB) are yet to bid for the IPO, till 1:50 pm on day 1.
Senco Gold IPO will remain open for public subscription till July 6. The company plans to mop up ₹405 crore from the public issue. Out of this, it has already raised ₹121.50 crore from 21 anchor investors ahead of the IPO.
The anchor book included marquee investors such as Nippon MF, White Oak, Jupiter asset management, Bandhan MF, 3P India Equity Fund (fund owned by Prashant Jain - 1st IPO investment by the fund), Max Life Insurance, Sundaram MF, Franklin Templeton MF. Read here: Senco Gold collects over ₹121 crore from anchor investors ahead of IPO The gold and diamond jewelry seller fixed the IPO price band at ₹301 to ₹317 per equity share. The Senco Gold IPO comprises a fresh issuance of shares worth ₹270 crore and an offer-for-sale (OFS) of equity shares worth ₹135 crore by investor SAIF Partners India IV.
Senco Gold is a renowned jewellery retailer with a strong presence in Eastern India. Currently, the company boasts an extensive retail network consisting of 136 showrooms, with store networks in 13 States/UTs across 96 cities. Also Read: ideaForge IPO: Latest GMP, how to check allotment status online Most analysts have recommended subscribing to the issues given its strong brand name, better financial performance and being well placed to benefit from the expected growth rate in the jewellery industry and also a likely
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