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SAIF Partners pares around 6% stake in Senco Gold for Rs 433 cr

Hong Kong-based SAIF Partners on Thursday pared a 5.8 per cent stake in jewellery retailer Senco Gold for Rs 432.72 crore through an open market transaction

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Hong Kong-based SAIF Partners on Thursday pared a 5.8 per cent stake in jewellery retailer Senco Gold for Rs 432.72 crore through an open market transaction. SAIF Partners, through its arm SAIF Partners India IV Ltd, sold shares of Kolkata-based Senco Gold on the BSE.

According to the bulk deal data available on the BSE, SAIF Partners India IV offloaded 45,07,487 shares, amounting to a 5.8 per cent stake in Senco Gold.

The shares were disposed of at an average price of Rs 960.02 apiece, taking the deal value to Rs 432.72 crore.After the share sale, SAIF Partners’ shareholding in Senco Gold declined to 4.97 per cent from 10.77 per cent.

Details of the other buyers of Senco Gold’s shares could not be ascertained.Shares of Senco Gold gained 1.30 per cent to close at Rs 964.35 per piece on the BSE.

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BHIMA Jewellery Receives Prestigious IAGES Accreditation

Thiruvananthapuram’s M.G. Road Showroom Receives Accreditation Following An Independent Assessment Against IAGES Standards, Recognising Purity Transparency and Customer Trust.

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Bhima Jewellery, one of India’s most trusted jewellery brands with a legacy of over a century, has received the Certificate of Accreditation from IAGES (Indian Association for Gold Excellence and Standards). The accreditation was awarded to Bhima’s M.G. Road showroom in Thiruvananthapuram after a rigorous independent assessment against the IAGES Code of Conduct.

Suhas M S, Managing Director, Bhima Jewellery, received the certificate from Kaushalendra Sinha, CEO, IAGES. Raja Venkatesh, GM – Trade Engagements (South), IAGES, was also present at the ceremony.

IAGES is an industry initiative that sets the benchmark for excellence, transparency, ethical business practices and customer trust in the gold jewellery industry. The association recognises jewellery brands that meet the highest standards of purity, transparent pricing, ethical sourcing and customer service.

Suhas M S, Managing Director, Bhima Jewellery said

“For over a century, our customers’ trust has been Bhima’s greatest wealth. That trust is built on the purity of our gold and transparency in every transaction. This accreditation is a testament to that trust, and we will continue to serve our customers with the same purity and sincerity.”

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