Senco Gold IPO listing date today. GMP, experts see ideaForge, Cyient DLM like debut

Senco Gold IPO listing date has been fixed on 14th July 2023 i.e. today. As per the information available on BSE website, the equity shares of Senco Gold Limited shall be listed and admitted to dealings on BSE and NSE in the list of 'B' group of Securities on Friday, 14th July 2023. Senco Gold IPO listing will take place in a special pre-open session at 10:00 AM on Friday session.

According to stock market experts, Senco Gold IPO may list at a strong premium and repeat the listing performance of recently listed stocks like ideaForge Technology and Cyient DLM Ltd. They said that recent successful listings have demonstrated significant profitability, setting the stage for Senco Gold Ltd to follow suit. They said that Senco Gold share price may open above ₹450 apiece levels, delivering at least 40 per cent listing premium to the lucky allottees. Meanwhile, grey market has maintained its positive sentiment in regard to the public issue. According to market observers, Senco Gold share price is quoting at a premium of ₹130 in grey market today.

Experts predict strong listing premium

Speaking on Senco Gold IPO listing, Abhay Doshi, Founder at UnlistedArena.com said, "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 demonstrated significant profitability, setting the stage for Senco to follow suit. The anticipation is high that Senco's listing will be similarly rewarding, potentially offering hefty returns of almost 40 per cent to the investors."

On expected Senco Gold share price opening, Vaibhav Kaushik, Research Analyst at GCL Broking said, "Senco Gold business model and balance sheet is in sound shape and it is expected to sustain its business in medium to long term, which is a good sign from a long term stock investors' perspective. As Indian stock market is in bull trend and recent listings have delivered whopping return to its allottees. I am expecting Senco Gold to deliver ideaForge and Cyient DLM IPO like listing premium to its allottees. The jewelry stock may list above ₹450 apiece and deliver at least 40 per cent listing gain to the investors."

Expecting strong debut for Senco Gold shares, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart said, "Senco Gold share price is likely to open around ₹440, a healthy premium of nearly 40 per cent over the issue price of ₹317 per share. This is justified by the strong demand for the Senco Gold IPO, which was subscribed 77.25 times. The company has also been growing its business steadily in recent years and is well-positioned to benefit from the growing demand for gold jewellery in India."

What Senco Gold IPO GMP signals

According to market observers, Senco Gold IPO grey market premium (GMP) today is ₹130, which means grey market is expecting that Senco Gold share price may open around ₹447 ( ₹317 + ₹130), which is more than 40 per cent of the Senco Gold IPO price band of ₹301 to ₹317 per share. This means, grey market is also expecting that Senco Gold share price may open at a whopping premium and repeat the listing date performance of recently listed ideaForge and Cyient DLM shares.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.