Senco Gold shares listed at 36% premium over issue price of Rs 317

14 Jul 2023 , 09:59 AM

Senco Gold, a company specializing in the sale of gold and diamonds, made an impressive debut on Dalal Street. Its shares opened at Rs 431 per share on the BSE, marking a significant increase of 35.96% from the issue price. On the NSE, the shares opened at Rs 430, reflecting a 35.65% increase over the issue price of Rs 317 per share.

The public issue of Senco Gold witnessed exceptional demand, with a subscription of 73 times from July 4-6, raising a total of Rs 405 crore. Qualified institutional buyers showed significant interest by subscribing 181 times the allotted quota, while the portion set aside for high net worth individuals was oversubscribed 65 times. Retail investors also displayed enthusiasm, bidding 15.5 times the reserved portion.

As a leader in the organized jewelry market in Eastern India, Senco Gold owns an extensive retail network of 136 showrooms across 96 cities. Out of these, 75 showrooms are owned by the company, while 61 operate under the franchise model. 

Around 63% of Senco Gold’s showrooms are located in West Bengal. The company not only offers gold and diamond jewelry but also provides a wide range of jewelry crafted from silver, platinum, precious and semi-precious stones, and other metals.