Oman-India joint fund invests Rs 75 cr in Senco Gold

Mumbai: A private equity fund manager sponsored by the Oman Investment Authority and State Bank of India on Monday 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 II (OIJIF II) will be through equity for a minority stake, according to a statement.

The funds raised will be utilised to make Senco an omnichannel jewellery brand of 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. "With the pandemic now receding, Senco is well-positioned for an expansion of its showroom network as well as building its digital presence," Senco Gold managing director and CEO Suvankar Sen

said.