Khaitan, ELP act on SAIF Partners Rs. 80 crore investment in Senco Gold
Dealstreet

Khaitan, ELP act on SAIF Partners Rs. 80 crore investment in Senco Gold

Aditya AK

Venture capital and private equity firm SAIF Partners has invested Rs. 80 crore in Kolkata-based Senco Gold Limited (SGL) by subscribing to compulsorily convertible preference shares and equity shares. The investors were represented by Khaitan & Co, while Economic Laws Practice (ELP) advised SGL.

The Khaitan team had Associate Partner Arindam Sarkar and Senior Associate Gaurav Dasgupta on board for the deal.

The ELP team consisted of Partners Sunil Nathani and Darshan Upadhyay, Associate Partner Deep Roy, Associate Manager Amruta Kelkar and Associate Tanya Chib.

SGL, one of the few jewellery companies that have received private equity infusion, will use the funds to accelerate its growth and establish a pan-India footprint, according to VCCircle.

SAIF’s holding would be less than 26 per cent and would give them a berth on the board, while the existing promoters would have four, according to BusinessLine.

Bar and Bench - Indian Legal news
www.barandbench.com