Shares of Senco Gold surge 28% during stock market debut on Friday

Shares of Senco Gold rose 28 per cent at its stock market debut on Friday. The Kolkata-based firm joined the likes of Ideaforge and Cyient DLM to witness huge listing-day gains in recent weeks. Shares of Senco Gold closed at Rs 405, with a gain of Rs 88, or 28 per cent, over the issue price of Rs 317 apiece. The stock hit a high of Rs 444 and a low of Rs 401 on the BSE. The jewellery retailer’s initial public offering (IPO) had seen subscription of 73 times. In the IPO, Senco issued new shares worth Rs 270 crore. The company — run by fourth-generation entrepreneurs — is the largest organised jewellery retail player in the eastern region of India in terms of number of stores.