Private Equity

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Jewellery retailer Senco Gold to acquire 68% stake in Melorra parent for Rs.68-C

BSE Announcement   Economic Times  

Kolkata-based jewellery retail chain Senco Gold Ltd is to acquire a 68% equity stake in Bengaluru-based August Jewellery, the parent company of Melorra for INR 68 crore. The proceeds from the primary equity component will be used by August Jewellery for growth, expansion, and the repayment of existing liabilities.Founded in 2015, August operates in the gems and jewellery segment and owns the Melorra brand. The company is involved in the manufacturing, designing, marketing, and sale of gold, silver, and gemstone jewellery, focusing on lightweight, trend-driven designs for younger consumers.

Between Jun 2015 and May 2022, Melorra had attracted about USD 73 M in equity and debt from BlackSoil Capital, Burman Family Office, Lightbox, Rainmaker Ventures, Capri Global Holdings, Symphony International Holdings, Z Nation Lab, and others.