Senco Gold Diamonds IPO To Open For Subscription Today Know 10 Key Points

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Senco Gold Diamonds IPO: This week the IPO market has great opportunities for investors to earn. Initial public offering i.e. IPO of many good companies are coming to the market. One of these is Kolkata-based Senko Gold Diamond Company, whose IPO is slated to open on July 4, 2023. Know here the special things related to this IPO-

When will Senko Gold’s IPO open?

The Senko Gold and Diamonds IPO will open for investors to apply on July 4 and investors can apply to the IPO till July 6.

Know the price band of the IPO

The company has fixed the IPO price band at Rs 301-317 per share. At the upper end of this band, the company is getting a valuation of Rs 2460 crore.

Company issue mix of OFS + fresh issue

Senko Gold IPO raised Rs. 405 crore is going to be collected. In which Rs.270 crore will be collected by issuing new shares. While 135 crore rupees will be collected through offer for sale. Existing investors will sell their stake in the IPO. SAIL Partners India will sell its stake in the OFS segment.

When will listing of IPO shares take place?

After completing the allotment process by July 11, the company will be listed on the stock exchange on July 14.

What is the bidding date for anchor investors?

The bidding date for Senko Gold’s anchor investors has been fixed today i.e. July 3, 2023.

Why is the company raising money?

The company will use the proceeds raised from the IPO to meet other capital funding and general corporate needs. At the end of the financial year 2022-23, the revenue of the company is Rs. 4108 crores and the company had Rs. 158 crore profit was made.

Know the Running Lead Managers Book of IPOs

IIFL Securities, Ambit and SBI Capital Markets are the book running lead managers for the IPO.

Know other details of IPO

50 percent of the IPO is reserved for institutional investors, 15 percent for non-institutional investors and 35 percent for retail investors.

What is the Gray Market Premium of Senko Gold IPO?

The grey-market premium for Senko Gold & Diamonds’ IPO shares is soaring. Last week, its share traded at Rs. 60 was trading at a premium, but today its GMP is Rs. 100 per share has been reached.

What does the company do?

Senko Gold & Diamond is the largest retail jewelery company in East India. The company also sells jewelery through an online platform. This company sells gold, diamond, platinum jewelery and silver jewellery. The company is present in the jewelery retail segment under the Senko Gold and Diamond brand names.