Senco Gold closes with 28% premium on debut

Senco Gold

Senco Gold, the leading jewellery retailer in Eastern India, continued to shine throughout the session and closed with a whopping 28 percent premium on listing day, July 14. The rally was not only backed by its strong fundamentals and healthy IPO subscription numbers but also by healthy conditions in the equity markets which traded at new highs.

The stock opened with a 35.64 percent premium at Rs 430 and climbed up to Rs 444, an intraday high. It has maintained a Rs 400 level for the entire session hitting a low of Rs 401.20.

Finally, the stock closed at Rs 405.30 on the NSE, up 27.85 percent with a volume of 1.51 crore equity shares, while on the BSE, the closing was higher by 27.74 percent at Rs 404.95, with volume of 11.07 lakh shares.

The closing market capitalisation on first day was Rs 3,144 crore.

The Kolkata-based jewellery retailer has raised Rs 405 crore through its public issue comprising a fresh issue of Rs 270 crore. The price band for the offer was Rs 301-317 per share.

Also read: Buy, sell or hold? What should you do after Senco Gold IPO shines on debut

Senco Gold is a pan-India jewellery retailer with a strong brand presence in Eastern India, having a network of 136 showrooms in 96 cities in India.