Oman India Investment Fund sells stake in Senco Gold for Rs 75 crore

Stake sale: Oman India Joint Investment Fund has sold more than Rs 75 crore worth of shares in leading jewellery retail firm Senco Gold through open market transactions. Bulk deal data from BSE revealed Oman India Joint Investment Fund II sold 5.89 lakh shares, or nearly 0.76 per cent stake at an average price of Rs 1,280.16 per share or Rs 75.52 crore.

The fund acquired a stake of 1.27 per cent in the Senco Gold following this transaction from the earlier level of 2.03 per cent ICICI Prudential Life Insurance, on the other hand, purchased 4.90 lakh shares for ₹1,280 per share to gain a 0.63 per cent stake at Rs 62.81 crore.

There is no information available in this deal about other buyers. The Oman India Joint Investment Fund II is managed by Oman India Joint Investment Fund Management Company, which exclusively manages private equity funds targeting mid-market investments in India. This fund is sponsored by Oman Investment Authority and State Bank of India, wherein the former is the sovereign wealth fund of Oman.

Of course, share transaction news turned lucky for the Senco Gold's shares as they rose 3.77 per cent during Monday's closing. The scrip close was Rs 1,332.70 on BSE.