Oman India Joint Investment Fund‘s arm sold shares of jewellery retail giant Senco Gold for over INR 75 crore in an open market transaction on Monday, while ICICI Prudential Life Insurance acquired͏͏ a͏͏ stake͏͏ in͏͏ the͏͏ company.
Details͏͏ of͏͏ the͏͏ Transaction:
According͏͏ to͏͏ bulk͏͏ deal͏͏ data͏͏ from͏͏ the͏͏ BSE,͏͏ Oman͏͏ India͏͏ Joint͏͏ Investment͏͏ Fund͏͏ II͏͏ offloaded͏͏ 5.89͏͏ lakh͏͏ shares,͏͏ or͏͏ a͏͏ 0.76%͏͏ stake,͏͏ in͏͏ Senco͏͏ Gold.
The͏͏ shares͏͏ were͏͏ sold͏͏ at͏͏ an͏͏ average͏͏ price͏͏ of͏͏ INR͏͏ 1,280.16͏͏ each,͏͏ bringing͏͏ the͏͏ transaction͏͏ value͏͏ to͏͏ INR͏͏ 75.52͏͏ crore.
Following͏͏ the͏͏ latest͏͏ transaction,͏͏ Oman͏͏ India͏͏ Joint͏͏ Investment͏͏ Fund’s͏͏ stake͏͏ in͏͏ Senco͏͏ Gold͏͏ has͏͏ reduced͏͏ to͏͏ 1.27%͏͏ from͏͏ 2.03%.
Continue͏͏ Exploring:͏͏ Senco Gold Q1͏͏ FY25͏͏ net͏͏ profit͏͏ jumps͏͏ 85%,͏͏ revenue͏͏ up͏͏ 7.5%
ICICI͏͏ Prudential͏͏ Life͏͏ Insurance͏͏ Acquires͏͏ Stake:
Meanwhile,͏͏ ICICI͏͏ Prudential͏͏ Life͏͏ Insurance͏͏ acquired͏͏ 4.90͏͏ lakh͏͏ shares,͏͏ amounting͏͏ to͏͏ a͏͏ 0.63%͏͏ stake͏͏ in͏͏ Senco͏͏ Gold,͏͏ at͏͏ an͏͏ average͏͏ price͏͏ of͏͏ INR͏͏ 1,280͏͏ per͏͏ share.
This͏͏ brought͏͏ the͏͏ deal͏͏ value͏͏ to͏͏ INR͏͏ 62.81͏͏ crore.
Details͏͏ regarding͏͏ the͏͏ other͏͏ buyers͏͏ of͏͏ Senco͏͏ Gold’s͏͏ shares͏͏ remain͏͏ unconfirmed.
Oman͏͏ India͏͏ Joint͏͏ Investment͏͏ Fund͏͏ II͏͏ is͏͏ an͏͏ affiliate͏͏ of͏͏ the͏͏ Oman͏͏ India͏͏ Joint͏͏ Investment͏͏ Fund͏͏ Management͏͏ Company͏͏ (OIJIF-MC).
OIJIF-MC͏͏ is͏͏ a͏͏ professionally͏͏ managed͏͏ firm͏͏ that͏͏ manages͏͏ private͏͏ equity͏͏ funds͏͏ aimed͏͏ at͏͏ investing͏͏ in͏͏ the͏͏ mid-market͏͏ segment͏͏ in͏͏ India.͏͏ It͏͏ is͏͏ supported͏͏ by͏͏ two͏͏ major͏͏ sponsors:͏͏ Oman͏͏ Investment͏͏ Authority͏͏ (OIA)͏͏ and͏͏ State͏͏ Bank͏͏ of͏͏ India.
OIA͏͏ is͏͏ the͏͏ sovereign͏͏ wealth͏͏ fund͏͏ of͏͏ the͏͏ Sultanate͏͏ of͏͏ Oman.
Shares͏͏ of͏͏ Senco͏͏ Gold͏͏ rose͏͏ 3.77%͏͏ to͏͏ close͏͏ at͏͏ Rs͏͏ 1,332.70͏͏ apiece͏͏ on͏͏ the͏͏ BSE͏͏ on͏͏ Monday.
