Next week, seven public issues—three mainstream and four for small and medium-sized enterprises—will be released, creating a flurry of activity in the IPO market. Investors will have the chance to participate in the IPO and gain from the company’s sustained growth in the competitive IT sector.
Senco Gold Limited, a renowned pan-India jewelry retailer established in 1994. The company operates under the brand name “Senco Gold & Diamonds” and offers a wide range of jewelry, including gold, diamond, silver, platinum, and precious and semi-precious stones.
In light of its IPO, Senco Gold plans to issue shares in the price range of ₹301 to ₹317 per share, with a lot size of 47 shares. The GMP of the company is ₹102. GMP or Grey Market Premium adding to issue price gives the estimated listing price of the IPO share. The IPO is scheduled to be open from July 4, 2023, to July 6, 2023, and the listing will take place on the BSE and NSE. The company aims to utilize the funds raised from the IPO for working capital requirements and general corporate purposes.
Senco Gold has demonstrated robust financial performance over the years, showcasing significant growth in its total assets, total revenue, and profit after tax. As of March 2023, the company reported total assets of ₹2,905.32 crore, total revenue of ₹4,108.54 crore, and a net profit of ₹158.48 crore. The company’s strong financials and expanding presence in the market make it an attractive prospect for investors considering its IPO.
With its rich heritage, extensive catalog, and strategic expansion plans, Senco Gold Limited is poised to further solidify its position as a leading jewelry retailer in India. The IPO provides an opportunity for investors to participate in the company’s growth and capitalize on its success in the industry.
The second is Synoptics Technologies Limited, a prominent IT services and solutions provider established in 2008, has revealed its plans for an Initial Public Offering (IPO). The company specializes in offering comprehensive IT infrastructure solutions, cloud services, IT security solutions, and data center designs. Synoptics Technologies caters to a wide range of clients, including government organizations, TATA Communications, Blue Dart Express Limited, Shoppers Stop Limited, Hennes & Mauritz (H&M), and the Government of Gujarat, among others.
The company recently signed a significant agreement with BSNL to become their authorized nationwide partner for Private LTE/Private 5G services. This collaboration highlights Synoptics Technologies’ commitment to expanding its reach and providing cutting-edge technology solutions to a broader customer base.
The IPO details for Synoptics Technologies have been announced, with a fixed price issue and a lot size of 600 shares. The IPO will be open for subscription from June 30, 2023, to July 5, 2023. The company plans to issue a total of 2,280,000 shares, with a face value of ₹10 per share and a price of ₹237 per share. The IPO is expected to raise approximately ₹54.03 crore, with a fresh issue of ₹35.08 crore and an offer for sale of ₹18.96 crore. The GMP of the company is ₹22.
With its expertise in IT services and solutions, established client base, and strategic partnerships, Synoptics Technologies aims to capitalize on the growing demand for digital transformation and technology-driven solutions.
Investing in an IPO is like investing in any other business. So before you plan to invest in an IPO, check the company’s fundamentals and prospects. However, for an unproven business, a product or service with great potential is not enough. You need to give extra weightage to the quality of management and founders. You must spend enough time assessing their vision, thought process, and execution abilities. Only once you have a 360-degree view of the business, should you go ahead and invest in one.
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Updated: 01 Jul 2023, 11:05 PM IST