Senco Gold share price opens at 35.6% premium. Details here
₹430 per share, 35.6 percent higher than the issue price, and on the BSE, the stock was listed at ₹431 per share. The company has fixed the price band for the issue at ₹301 to ₹317 per share. “Senco Gold IPO made a strong debut on the stock exchanges today, listing at ₹430 per share, a premium of 36% over the upper end of the price band of ₹317.
The strong listing was in line with the expectations. We are not recommending any fresh buying at this level. However, existing investors can hold the shares for the long term with a stop loss at ₹387, as the company has good growth prospects," said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart Ltd.
The public issue that opened for subscription on Tuesday, July 4, closed on Thursday, July 4. On the final day of the subscription, the issue received overall positive response from qualified institutional buyers (QIBs), retail, and non institutional investors (NIIS). Retail investors portion was subscribed 16.28 times, QIBs was subscribed 190.56 times, and NII portion was subscribed 68.44 times.
The total issue was subscribed 77.25 times. Senco Gold IPO Day 1: Issue subscribed 69%; retail portion fully booked The company's IPO consists of a fresh issuance of shares worth ₹270 crore and an offer-for-sale (OFS) of equity shares by investor SAIF Partners India IV at ₹135 crore. The company plans to use the net proceeds from the new issue to cover general business needs and the company's working capital requirements.
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