Oman India Investment Fund II Offloads Shares Worth Rs 75 Crore in Senco Gold

Oman India Joint Investment Fund's arm divested shares in Senco Gold worth over Rs 75 crore on Monday. This was done through an open market transaction. Concurrently, ICICI Prudential Life Insurance acquired a stake in the jewellery retailer. BSE's bulk deal data revealed that Oman India Joint Investment Fund II sold 5.89 lakh shares, representing a 0.76% stake in Senco Gold.

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Investment Transactions and Stake Changes

The shares were sold at an average price of Rs 1,280.16 each, resulting in a transaction value of Rs 75.52 crore. Following this sale, the fund's stake in Senco Gold decreased from 2.03% to 1.27%. Meanwhile, ICICI Prudential Life Insurance bought 4.90 lakh shares, equating to a 0.63% stake, at an average rate of Rs 1,280 per share.

This purchase amounted to Rs 62.81 crore. However, information about other buyers of Senco Gold's shares remains unavailable. Oman India Joint Investment Fund II is associated with Oman India Joint Investment Fund Management Company (OIJIF-MC). OIJIF-MC manages private equity funds targeting India's mid-market sector.

Background of Investment Entities

OIJIF-MC is supported by two major sponsors: Oman Investment Authority (OIA) and State Bank of India. OIA serves as the sovereign wealth fund for the Sultanate of Oman. On the same day, Senco Gold's stock price increased by 3.77%, closing at Rs 1,332.70 per share on the BSE.

These transactions highlight ongoing interest and activity in Senco Gold's shares by significant investors. The involvement of prominent entities like ICICI Prudential Life Insurance underscores the company's appeal in the investment community.