Nirmal Bang IPO report on Senco Gold
Incorporated in 1994, Senco Gold Limited is a pan-India jewelry retail player. It is the largest organized player in eastern India based on its number of stores. It primarily deals in gold and diamond jewelry along with jewelry made of silver, platinum, precious and semi-precious stones, and other metals. Besides this, it offers costume jewelry, gold, and silver coins, and utensils made of silver in its other offerings.
Valuation and Outlook
However, the IPO is issued at 15.5x PE valuation based on its FY23 EPS which is at discount relative to average PE valuation of its peers. Thus, we recommend ‘SUBSCRIBE’ to the issue for listing gains.
For all IPO report, click here
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