SAIF Partners Reduces Stake in Senco Gold with Rs 432.72 Crore Deal

Hong Kong-based SAIF Partners sold a 5.8% stake in Senco Gold for Rs 432.72 crore through an open market transaction. The bulk deal involved selling over 45 lakh shares at Rs 960.02 each, reducing SAIF Partners' stake from 10.77% to 4.97%.

In a significant market move, Hong Kong-based SAIF Partners divested a 5.8% stake in jewellery retailer Senco Gold, translating to Rs 432.72 crore. The transaction, conducted via an open market route, saw SAIF Partners India IV Ltd. relinquishing 45,07,487 shares on the BSE.

According to the bulk deal data on the BSE, shares were sold at an average price of Rs 960.02 apiece, culminating in the substantial deal value. Consequently, SAIF Partners' shareholding in Senco Gold plummeted to 4.97% from its previous 10.77%.

Notably, India Acorn ICAV, Motilal Oswal Equity Opportunities Fund Series-II, and Apah Capital Master Fund emerged as key buyers, acquiring 15.51 lakh shares at Rs 960 each, totaling Rs 148.94 crore. The shares of Senco Gold saw a 1.30% increase, closing at Rs 964.35 per piece on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)