Senco Gold allotment to be finalised today; here's how to check status and latest GMP

The allotment for the Rs 405-crore initial public offer (IPO) of jewellery maker Senco Gold is likely to be finalised today. Investors can check their allotment status on the issue's registrar - KFin Technologies' website as well as on BSE.

The issue received a robust response from all kinds of investors and was subscribed 77.25 times till the final day of bidding. It received bids for 69 crore equity shares against 89.43 lakh shares on offer.

The qualified institutional buyer's (QIB) quota was subscribed 190.56 times while the non-institutional investors' (NII) portion was subscribed 68.44 times. Also, the part reserved for retail investors witnessed 16.28 times subscription.

GMP: The shares of Senco Gold are currently commanding a grey market premium (GMP) of Rs 114 today, which is Rs 6 lower than its Monday GMP of Rs 120. Experts believe this dip in Senco Gold is due to the volatility in secondary market sentiment.

The IPO opened for subscription on between July 4-6 with a price band of Rs 301-317. This was the first IPO for the month of July and the second half of the current calendar year. The offer comprises a fresh issuance of shares worth Rs 270 crore and an offer-for-sale (OFS) of Rs 135 crore by investor SAIF Partners India IV.

The issue is likely to be listed on the bourses on July 14.

Here's how you can check the allotment status:

On BSE

1) Go to the website.

2) Select ‘Equity’ and then from the dropdown, select the issue name (Senco Gold).

3) Enter your application number and PAN card number.

4) Click on the "Search" button.

In a similar way, you can also check on its registrar's website

1) Go to the website of KFin Technologies.

2) Click on ‘Company Selection’ and then select the IPO name (Senco Gold).

3) Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.

4) Click on ‘Search’.

The status will only appear after allotment if the details are entered correctly. In the case of non-allotment, the blocked amount will be refunded to your bank account.

Incorporated in 1994, Senco Gold Limited is a pan-India jewellery retail player with a legacy of more than five decades. It is the largest organised jewellery retail player in the eastern region of India based on a number of stores.

The company primarily sells gold and diamond jewellery as well as jewellery made of silver, platinum and precious and semi-precious stones, other metals, costume jewellery, gold & silver coins and utensils made of silver. The company has a network of 136 stores as on Mar '23 out of which 75 are company-operated and 61 are franchisee showrooms. The products are sold under its brand name 'Senco Gold & Diamonds'.

Most brokerages had assigned a ‘subscribe’ rating to the issue on the back of a strong brand name and a five-decade legacy. Strong financial performance, robust growth outlook and the attractively priced IPO also kept the brokerages positive.