Investors give thumbs up to Senco Gold

IPO frenzy has continued as the listing of Senco gold has also made fortunes for investors. The share got listed on NSE at Rs 430 with a premium of 35.6%. Its issue price was Rs 317 per share. Even while bidding IPO got a huge response as it was subscribed more than 77 times. The company raised Rs 405 crore from IPO. Senco Gold is a dominant jewellery company in the eastern part of India. Most of the brokers are bullish on the company as they have given apply or may apply rating. It is believed that as customers will move from the unorganized to the organized sector the company stands to gain. At the same time, it is reported that the company is using technology for attaining operational efficiency.

The company’s profit growth is also impressive. From Rs 61.48 crore in FY21 to Rs 158.48 crore in FY23.

Besides this, there is another IPO that is open for bidding currently and that is Utkarsh Small Finance Bank. Its price band is Rs 23 to Rs25 per share. Today is the last day for subscription and the company is looking to raise Rs 500 crore from IPO. The whole Rs 500 crore will be a fresh issue. IPO is already subscribed more than 34 times while retail quota has been subscribed close to 60 times. In the grey market, the premium of the stock is Rs 15 per share which means the stock may list at a premium of 68%.

On the SME board also one IPO got listed and one is open for listing. Alpha Logic got listed on BSE today at Rs 96 per share while the issue price was also Rs 96 per share. The company raised around Rs 13 crore from IPO.

Now, if you are looking to bid for SME IPO. The service care has opened up today. Its price band is Rs 63 to Rs 67 per share. The IPO has opened today and will remain open till 18th July. The company is looking to raise Rs 20.7 crore from IPO. The IPO is subscribed 35% by the time of writing this story.