Saif Partners sells off 5.8% stake in Senco Gold

Private equity business Saif Partners has sold off a 5.8% stake in fine jewellery brand Senco Gold and Diamonds. The deal totalled Rs 432.72 crore and was carried out through an open market transaction to bring Saif Partners’ shareholding in Senco Gold and Diamonds down to 4.97%.

Saif Partners previously held a 10.77% stake in the Kolkata based business, India Retailing reported. The shares were sold on the Bombay Stock Exchange through Saif Partners’ business Saif Partners India IV Limited, which sold off over 45 lakh shares in the business at an average price of Rs 960.02 per share.
 
Some of the businesses that acquires shares in Senco Gold and Diamonds in the share sale included Motilal Oswal Equity Opportunities Fund Series-II, India Acorn ICAV, and Apah Capital Master Fund. Shares of Senco Gold and Diamonds saw their value increase on the Bombay Stock Exchange following the transaction.  
 
Saif Partners was founded by Andrew Yan in Hong Kong in 2001 as a private equity firm. The business invests in a mix of early and late stage ventures as well as series A to C funding round among others, Golden reported.