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Senco Gold to acquire 68% stake in August Jewellery for Rs 68 crore
Senco Gold is acquiring a 68% stake in August Jewellery for Rs 68 crore.
Senco Gold Ltd signed agreements on Sunday to acquire a 68 per cent stake in August Jewellery Pvt Ltd for Rs 68 crore. The company expects to complete the investment in multiple tranches by February 2027. Including a promoter group entity, the total holding will reach 79 per cent to make the Melorra brand operator a subsidiary. Fresh equity issuance will fund growth, expansion, and the discharge of existing liabilities.
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Senco Gold to acquire 68% stake in August Jewellery for Rs 68 crore
Senco Gold Ltd will acquire a 68 per cent stake in August Jewellery Pvt Ltd for a total consideration of Rs 68 crore. The company announced the deal in a regulatory filing on Sunday. The investment is scheduled to be executed in multiple tranches. The transaction is subject to the fulfillment of specific conditions and is targeted for completion by February 2027.