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OIJIF II invests in leading national jewellery chain, Senco Gold & Diamonds
Mr. Srinath Srinivasan, CEO, Oman India Joint Investment Fund Management Company (OIJIF MC) Senco Gold operates 127 showrooms across the country. In eastern India it is the largest organised jewellery retail player. Senco has been rated as the 2nd most trusted Jewellery brand in India by TRA in their Brand Trust Report 2020. One of India’s top VC firms, SAIF Partners India IV Limited, has been an investor in the company since 2014. Senco posted consolidated revenues of around INR 2,675 crores for FY2021.
Mr. Suvankar Sen, Managing Director and CEO of Senco Gold & Diamonds Mr. Suvankar Sen, Managing Director and CEO of Senco Gold said, “We are delighted to partner with OIJIF II and look forward to working together. We intend to build Senco into a national level omni-channel jewellery brand. Senco has existed for over 50 years and continues to deliver growth and profitability. With the pandemic now receding, Senco is well positioned for an expansion of its showroom network as well as building its digital presence.” He also said that Senco operates on the principles of trust, transparency and customer centricity on the path and vision laid down by Founder Chairman Shaankar Sen. Quest Profin Advisor Pvt Ltd. (Quest), a Mumbai based boutique Investment Bank, were the exclusive Financial Advisors to the Company and the transaction.
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