Senco Gold Expands Portfolio with New Subsidiary Sennes Fashion Limited

On September 7, 2024, Senco Gold Limited announced via a stock exchange filing that the Ministry of Corporate Affairs has approved the incorporation of the Company’s wholly-owned subsidiary, “Sennes Fashion Limited,”. A Certificate of Incorporation has been issued for the same.

Sennes Fashion Limited is a wholly-owned subsidiary of Senco Gold Limited, making it a related party. The acquisition is considered a related party transaction, but it has been carried out at arm’s length. No governmental or regulatory approvals were required for this acquisition.

Industry and Business Line
Sennes Fashion Limited operates in the lifestyle products industry, dealing with a wide range of items, including lab-grown diamond jewellery, fashion accessories (leather and non-leather), perfumes, and gift items.

Purpose and Impact of Acquisition
The acquisition aims to diversify and expand the business operations of Senco Gold Limited, as it branches into a broader lifestyle product range, beyond its core jewelry business.

Consideration and Shareholding
The acquisition involved a cash consideration of ₹5,00,000, with Senco Gold Limited purchasing 50,000 equity shares at ₹10 each. Following this acquisition, Senco Gold Limited holds 100% of the shareholding in Sennes Fashion Limited.

About Sennes Fashion Limited

Sennes Fashion Limited was incorporated on September 7, 2024, in India, registered with the Registrar of Companies, West Bengal. Since it is a newly formed entity, there is no turnover history for the last 3 years. It operates in the trading, export, and import of lifestyle products, including lab-grown diamond jewellery, leather and non-leather accessories, perfumes, and gift items.

About Senco Gold Limited 

Incorporated in 1994, Senco Gold Limited is a leading Pan-India jewellery retailer and the largest organised jewellery retail player in Eastern India by store count. The company is primarily engaged in selling gold and diamond jewellery, along with items made from silver, platinum, and precious and semi-precious stones. Senco Gold operates 97 stores, which include both large and small formats. It is also recognised as India’s second-most trusted and second-most desired jewellery brand.

On September 09, 2024, the share price of Senco Gold Ltd opened at ₹1,189.00, touching the day’s high of ₹1,240.00 at 09:59 AM. 

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