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Multibagger IPO: Jewellery stock SENCO Gold doubles allottees’ money in four months
On NSE Senco Gold share prices were listed at Rs 430 apiece levels whereas on BSE, the prices opened at Rs 431 per share levels
Mumbai: The initial public offering (IPO) of Senco Gold was launched in July 2023. The public issue was offered at a price band of 301 per share to ₹317 per equity share. The book build issue was listed on BSE and NSE on July 14, 2023. On NSE it listed at Rs 430 apiece levels whereas on BSE, Senco Gold share price opened at Rs 431 per share levels.
The jewellery stock delivered over 35% returns to its allottees on the share listing date. However, the jewellery stock didn’t end here – it continued to scale upwards, recording Rs 683.95 per share levels during the Muhurat trading session. If an allottee had remained invested in Senco Gold shares despite a strong debut on Dalal Street, the absolute value of one’s investment would have surged to the tune of 11% in the last four months.
Senco Gold share price history
The book build issue opened for bidding on July 4, 2023 and the public issue worth Rs 405 crore ended on July 6, 2023. Out of the Rs 405 crore issue size, Rs 270 crore was aimed towards addressing fresh issues whereas the remaining Rs 135 crore was reserved for OFS.
A bidder was able to apply for the IPO in lots – where one lot comprised 47 Senco Gold shares. Thus, the minimum amount invested by an allottee in Senco Gold IPO was Rs 14,899 per share (Rs 317 x 47).
After strong listings on BSE and NSE on July 14, 2023, Senco Gold share price ended on NSE on listing date at Rs 405.30 apiece levels. The price of the brand in the stock market is about ₹681 per share levels. This means if an investor had remained invested in Senco Gold shares despite a strong debut on Dalal Street, net return on one’s money would have been around 115%.
If an allottee had remained invested in Senco Gold shares, one’s Rs 14,899 would have turned to Rs 32,007 in four months. Interestingly, in these last four months post-listing, this jewellery stock has climbed to life-time high of Rs 782.85 per share on NSE.
Courtesy: LiveMint
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