Senco Gold Limited IPO 2023: Review

Senco Gold Limited is a leading gold mining company in India. The company is headquartered in Chennai, Tamil Nadu, and has been in operation since 1997. Senco Gold has two operational mines in Karnataka and Andhra Pradesh. The company's mines have a combined annual production capacity of 1.2 million tonnes.

Senco Gold is raising Rs 405 crore through its initial public offering (IPO). The IPO opened on July 4, 2023, and will close on July 6, 2023. The company has set the price band for the issue at a range of Rs 301 to Rs 317 per share.

The proceeds from the IPO will be used to fund the company's expansion plans. Senco Gold plans to use the funds to develop its existing mines and to acquire new mines. The company also plans to use the funds to repay debt and to invest in its exploration and mineral processing activities.

The IPO has been subscribed 1.15 times as of July 5, 2023. The highest subscription was seen from retail investors, who have subscribed 2.23 times the shares reserved for them. Qualified institutional buyers (QIBs) have subscribed 0.95 times the shares reserved for them, while non-institutional investors (NIIs) have subscribed 0.8 times the shares reserved for them.

The shares of Senco Gold are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on July 14, 2023.

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