Multibagger IPO: Jewellery stock Senco Gold doubles allottees' money in four months | Mint
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Business News/ Markets / Stock Markets/  Multibagger IPO: Jewellery stock Senco Gold doubles allottees' money in four months
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Multibagger IPO: Jewellery stock Senco Gold doubles allottees' money in four months

Multibagger IPO: Public issue of the jewellery brand was launched at ₹301 to ₹317 per share in July 2023

Multibagger IPO: Senco Gold share price today is around ₹681 apiece levels on NSE. (Photo: Courtesy Senco Gold website)Premium
Multibagger IPO: Senco Gold share price today is around 681 apiece levels on NSE. (Photo: Courtesy Senco Gold website)

Multibagger IPO: 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 listed on BSE and NSE on 14th July 2023. On NSE it listed at 430 apiece levels whereas on BSE, Senco Gold share price opened at 431 per share levels. 

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So, the jewellery stock delivered over 35 per cent return to its allottees on share listing date. However, the jewellery stock didn't end here only. It continue to scale upside and ended at 683.95 per share levels on Muhurat trading session. So, if an allottee had remained invested in Senco Gold shares despite strong debut on Dalal Street, the absolure value of one's investment would have surged to the tune of 115 per cent in last four months.

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Senco Gold share price history

The book build issue opened for bidding on 4th July 2023 and the public issue worth 405 crore ended on 6th July 2023. Out of 405 crore issue size, 270 crore waas aimed from fresh issues whereas rest 135 crore was reserved for OFS. 

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A bidder was able to apply for the IPO in lots and one lot wacomprising 47 Senco Gold shares. So, minimum amount invested by a allottee in Senco Gold IPO was 14,899 per share ( 317 x 47).

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After strong listing on BSE and NSE on 14th July 2023, Senco Gold share price ended on NSE on listing date at 405.30 apiece levels. Senco Gold price today is around 681 per share levels. This means if an investor had remained invested in Senco Gold shares despite strong debut on Dalal Street, its net return on one's money would have been around 115 per cent.

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In other words, if an allottee had remained invested in Senco Gold shares despite strong listing, one's 14,899 would have turned to 32,007 in four months. Interestingly, in these last four months post-listing, this jewellery stock has climbed to life-time high of 782.85 per share on NSE.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 13 Nov 2023, 09:54 AM IST
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