National News
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
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.
National News
Adv. S. Abdul Nazar, State General Secretary Of KGSMA, Met With Chief Minister Sri V.D. Satheesan
Kerala Gold Trade Seeks Government Support For Jewellery Park and Sector Development
Adv. S. Abdul Nazar, State General Secretary of the Kerala Gold and Silver Merchants Association (KGSMA), met with Kerala Chief Minister Shri V.D. Satheesan. He brought various issues and matters concerning Kerala’s gold trade sector—including the ‘Jewellery Park’ project proposed in the state budget—to the Chief Minister’s attention. The Chief Minister assured him that a meeting of relevant stakeholders would be convened to discuss the challenges and future development plans of the gold trade sector in detail.
Adv. S. Abdul Nazar expressed his happiness and gratitude to the Chief Minister for the successful and grand organization of the KGSMA state convention, and KJIF show which had been inaugurated by the Chief Minister.
The KGSMA is hopeful of receiving government support for projects such as the Jewellery Park, aiming to revitalize Kerala’s gold trade and manufacturing sectors and create more employment opportunities.
Adv. S. Abdul Nazar, State General Secretary Of KGSMA, Met With Chief Minister Sri V.D. Satheesan
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Adv. S. Abdul Nazar, State General Secretary Of KGSMA, Met With Chief Minister Sri V.D. Satheesan
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