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Tuesday, July 23, 2024

Check the Senco Gold IPO Date, Price Band, GMP, and Analysis to Determine Whether to Subscribe

<p>Beginning on July 4, subscriptions will be accepted for Senco Gold’s three-day initial public offering (IPO). The subscription period for the public edition runs through July 6.</p>
<p>The price range has been set by the business at Rs. 301-317 per share. Investors who are willing to do so may subscribe for a minimum of one lot of 47 equity shares as well as lots larger than 47. The corporation hopes to raise Rs 405 crore from the sale of its major shareholding.</p>
<p><img decoding=”async” class=”alignnone wp-image-54898″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-check-the-senco-gold-ipo-date-price-band-gmp-and-analysis-to-determine-whether-to-subscribe-download-22.jpg” alt=”” width=”1508″ height=”699″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-check-the-senco-gold-ipo-date-price-band-gmp-and-analysis-to-determine-whether-to-subscribe-download-22.jpg 330w, https://www.theindiaprint.com/wp-content/uploads/2023/07/www.theindiaprint.com-check-the-senco-gold-ipo-date-price-band-gmp-and-analysis-to-determine-whether-to-subscribe-download-22-150×70.jpg 150w” sizes=”(max-width: 1508px) 100vw, 1508px” /><br />
The offer consists of an offer for sale (OFS) of up to Rs 135 crore and a new equity issue of approximately Rs 270 crore. Through the OFS mechanism, SAIF Partners India IV will sell shares worth Rs 135 crore. For qualified institutional buyers (QIBs), 15% of the offer is set aside, while 35% of it is allocated to retail investors (RIIs).</p>
<p>The Company’s expected Rs 1,960 million in working capital requirements will be funded with the net proceeds of the Fresh Issue, with the remaining funds going towards general corporate purposes.</p>
<p>Senco Gold GMP</p>
<p>Senco Gold’s IPO GMP, or grey market premium, was Rs 60 as of June 30. Market watchers claim that Senco Gold’s shares sold at a premium of Rs 60 on the black market.</p>
<p>About the business:</p>
<p>Senco Gold is an Indian jewellery retailer with 130+ showrooms spread throughout 96 cities and towns that offers its products under the brand name “Senco Gold & Diamonds.” Senco Gold was first established as Senco Gold Private Limited on August 22, 1994. The business is a well-known jewellery brand with a storied brand name spanning more than five decades. The company’s overall revenue for the fiscal year ending in March 2023 was Rs 4,108 crore, while its profit was Rs 158 crore.</p>
<p>Things to think about before making an investment in the Senco Gold IPO:</p>
<p>heavy reliance on gold jewellery sales as a source of income</p>
<p>The sale of gold jewellery is the company’s primary source of income. For the fiscal years 2023, 2022, and 2021, respectively, the sale of gold jewellery accounted for 89.69%, 91.53%, and 91.90% of the company’s total revenue from operations.</p>
<p>Due to the company’s complete reliance on the selling of gold jewellery to generate revenue, any problems with the purchase or sale of gold could have a significant effect on its operations and financial standing.</p>
<p>Price turbulence and other elements</p>
<p>The company’s inventory value, revenue, profitability, and size of operations can all be significantly impacted by the price volatility of gold and diamonds.</p>
<p>Additionally, there are a number of regulatory issues because the company buys gold on a loan basis, primarily through bullion banks, which are governed by RBI rules. Therefore, any unfavourable change in RBI laws regarding gold loans could have an effect on the company’s operations.</p>
<p>The fierce rivalry in the Indian jewellery sector is last but not least. Listed rivals of Senco in the market include Kalyan Jewellers India and Titan Company Ltd.</p>

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