KSSF also lends ₹800 cr. to help promoter buy CDPQ stake
A Kotak Mahindra Bank arm on Monday announced a ₹1,000-crore investment into a third-party logistics (3PL) business promoted by the South-based TVS family.
Kotak Special Situations Fund (KSSF) has invested ₹200 crore in TVS Supply Chain Solutions and has provided ₹800-crore finance to T.S. Rajam Rubbers Private Ltd. through a non-convertible debentures route.
The loan will help TVS SCS promoter R. Dinesh acquire Canadian pension fund CDPQ’s stake in TVS SCS, according to an official statement.
“The investments will help the TVS family consolidate their holdings in TVS SCS,” it said.
“We are delighted to support the TVS group and R. Dinesh in consolidating their ownership in a valuable and high-growth, technology-led business,” Srini Sriniwasan, managing director at KSSF’s parent Kotak Investment Advisors, said.
KSSF’s chief executive Eshwar Karra said the investment was in line with the fund’s objective of participating in growth-oriented businesses.
The fund is registered as an alternate investment fund with regulator SEBI and currently manages $1 billion with a mandate to invest in special situations, credit and distressed space in the domestic arena.
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