The 14th of July 2023 has been set aside for Senco Gold’s initial public offering (IPO), and stock market analysts anticipate that the stock will begin trading at a 40% premium over the offer price of between 301 and 317.

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Senco Gold’s initial public offering (IPO) date has been set for July 14, 2023, which is today. According to the BSE website, the equity shares of Senco Gold Limited will be listed and admitted to trading on the BSE and NSE in the ‘B’ category of Securities on Friday, July 14, 2023. The Senco Gold IPO will be listed in a special pre-open session on Friday at 10:00 a.m.

According to stock market experts, the Senco Gold IPO might list at a significant premium, mirroring the performance of recently listed equities such as ideaForge Technology and Cyient DLM Ltd. According to them, recent successful listings have shown significant profitability, paving the way for Senco Gold Ltd to follow suit. They predicted that the Senco Gold share price would open over 450 per share, offering at least a 40% listing premium to the lucky allottees. Meanwhile, the grey market has maintained its positive attitude toward the public issue. According to market experts, the Senco Gold share price is currently trading at a premium of 130 in the grey market.

Experts anticipate a high listing premium

Abhay Doshi, Founder at UnlistedArena.com, commented on the Senco Gold IPO listing, saying, “Senco Gold IPO has garnered an exceptional response from investors across all categories, indicating strong market interest due to reasonable IPO pricing, visible growth prospects, and the prevailing positive sentiments in the primary market.” Recent successful listings have shown significant profitability, laying the groundwork for Senco to follow suit. The expectation is that Senco’s listing would be similarly profitable, potentially providing investors returns of around 40%.”

According to Vaibhav Kaushik, Research Analyst at GCL Broking, “Senco Gold’s business model and balance sheet are in good shape, and it is expected to sustain its business in the medium to long term, which is a good sign from the perspective of long term stock investors.” The Indian stock market is in a bull market, and recent listings have offered massive returns to their investors. Senco Gold’s allottees should expect a listing premium similar to those of ideaForge and Cyient DLM. The jewelry stock may trade above 450 per share and deliver at least a 40% listing gain to investors.”

Senco Gold shares are expected to make a good debut. “Senco Gold share price is likely to open around 440, a healthy premium of nearly 40% over the issue price of 317 per share,” said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart. The significant demand for the Senco Gold IPO, which was subscribed to 77.25 times, justifies this. The company has also gradually expanded its operations in recent years and is well-positioned to gain from India’s expanding demand for gold jewelry.”

What are the Senco Gold IPO GMP signals?

According to market observers, the Senco Gold IPO grey market premium (GMP) is currently 130, implying that the grey market expects the Senco Gold share price to open around 447 (317 + 130), which is more than 40% of the Senco Gold IPO price band of 301 to 317 per share. This suggests that the grey market anticipates Senco Gold’s share price will open at a massive premium, mirroring the performance of recently listed ideaForge and Cyient DLM shares.

Disclaimer: The opinions and suggestions expressed in this article are solely those of the individual analysts. These are not the opinions of Mint. Before making any financial decisions, we recommend that investors consult with competent specialists.

By Deesha

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