Investors of Senco Gold became rich, the company's stock was listed at a premium of more than 35 percent

As expected, the shares of Senco Gold Limited got listed in the stock market at a premium today.
The company's stock was listed on the NSE at Rs 430 per share, a premium of 35.6 percent over the IPO. Whereas on BSE, the company's stock was listed at Rs 431 per share.
Senco Gold had fixed the price band of its IPO at Rs 301 to Rs 317 per share. This IPO was open from 4 to 6 July. On the last day of subscription, the issue received an overall positive response from Qualified Institutional Buyers (QIBs), and Retail and Non-Institutional Investors (NIIs).
The retail investor's portion was subscribed 16.28 times, QIBs 190.56 times, and NII portion 68.44 times. The total issue was subscribed 77.25 times.
Shares worth Rs 270 crore were freshly issued in the company's IPO. Apart from this, investor SAIF Partners India IV had made an offer for the sale of equity shares worth Rs 135 crore through OFS. Apart from this, before the IPO subscription, the company had raised Rs 121.50 crore from 21 anchor investors.
The company plans to utilize the proceeds from the fresh issue for meeting general business needs and working capital requirements of the company.
Kolkata-based Senco Gold & Diamonds, a brand owned by Senco Gold Limited ('the Company'), has a legacy of over five decades. Senco Gold Limited is a well-known brand in Eastern India. With a wide range of products, the company caters to the needs of the younger generation with an emphasis on affordable and lightweight jewelry. Furthermore, the company has registered significant financial growth in the last three years.
The company currently has a vast retail network of 136 showrooms and store networks across 13 States/UTs and 96 cities. Senco Gold reported a net profit of Rs 158.48 crore in FY23, as against Rs 129.10 crore a year ago.
Talking about the revenue, the company's revenue was Rs 4,077.40 crore as against Rs 3,534.64 crore in the previous year.