Senco Gold receives Rs 75 crore investment from Oman-India joint fund

By

Isabelle Crossley

Published
Apr 12, 2022

Gold jewellery business Senco Gold received Rs 75 in investment funding on April 11 and plans to use the capital to expand with an omni-channel approach. 

The investment was made by a private equity fund manager sponsored by the Oman Investment Authority and State Bank of India, ET Bureau reported. The Oman India Joint Investment Fund II (OIJIF II) has acquired a minority stake in Senco Gold in exchange for the equity investment.
 
“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’s CEO and managing director Suvankar Sen told the Press Trust of India, about the business’ future plans.

The Kolkata-based business retails a wide range of gold jewellery including traditional and fusion style designs. The business retails from its store network centring around West Bengal and now plans to take its jewellery brand to the national level.
 
The investment comes as Senco Gold is gearing up for its initial public offering. Although it has not yet announced a set time frame, the business has said that it plans to file its IPO documents soon.