Oman-India Joint Fund Invests Rs 75 cr in Senco Gold

The investment of Rs 75 crore by Oman India Joint Investment Fund I (OlJIF I) will be through equity for a minority stake according to a statement.
Oman-India Joint Fund Invests Rs 75 cr in Senco Gold

A private equity fund manager sponsored by the Oman Investment Authority and State Bank of India said it has invested Rs 75 crore in Kolkata-based jewellery retailer Senco Gold. 

The investment of Rs 75 crore by Oman India Joint Investment Fund I (OlJIF I) will be through equity for a minority stake according to a statement. The funds raised will be utilized to make Senco an omnichannel jewellery brand of the national level, according to a statement.

This is part of Senco Gold's pre-IPO plans, and the company is planning to file its Initial Public Offer documents soon.

Suvankar Sen, MD, and CEO, Senco Gold said, "With the pandemic now receding, Senco is well-positioned for an expansion of its showroom network as well as building its digital presence."

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