Latest News | Oman India Investment Fund Sells Shares Worth Rs 75 Cr in Senco Gold

New Delhi, Sep 23 (PTI) Oman India Joint Investment Fund's arm on Monday sold shares of jewellery retail major Senco Gold for over Rs 75 crore through an open market transaction while ICICI Prudential Life Insurance picked up a stake in the company.

According to bulk deal data available on the BSE, Oman India Joint Investment Fund II offloaded 5.89 lakh shares, or 0.76 per cent stake, in Senco Gold.

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The shares were disposed of at an average of Rs 1,280.16 apiece, taking the transaction value to Rs 75.52 crore.

After the latest transaction, Oman India Joint Investment Fund's stake in Senco Gold has declined to 1.27 per cent from 2.03 per cent.

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Meanwhile, ICICI Prudential Life Insurance purchased 4.90 lakh shares, amounting to a 0.63 per cent stake in Senco Gold at an average price of Rs 1,280 per piece.

This took the deal value to Rs 62.81 crore.

Details of the other buyers of Senco Gold's shares could not be ascertained.

Oman India Joint Investment Fund II is an affiliate of Oman India Joint Investment Fund Management Company (OIJIF-MC).

OIJIF-MC is a professionally managed firm in the business of managing private equity funds focused on investing in the mid-market segment in India. It is backed by two large sponsors -- Oman Investment Authority (OIA) and State Bank of India.

OIA is the sovereign wealth fund of the Sultanate of Oman.

Shares of Senco Gold rose 3.77 per cent to close at Rs 1,332.70 apiece on the BSE on Monday.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)