Kotak Special Situations Fund (KSSF) on Monday introduced an funding of Rs 1,000 crore in TVS Supply Chain Solutions Limited (TVS SCS). “Under the transaction, KSSF has financed TS Rajam Rubbers Private Limited with Rs 800 crore in the form of non-convertible debentures (NCDs) to help the promoter, R Dinesh acquire CDPQ’s stake in TVS SCS,” Kotak mentioned in a launch.
“The investments will help the TVS family consolidate their holdings in TVS SCS. Additionally, KSSF has invested Rs 200 crore in the form of equity in TVS SCS,” it added.
Srini Sriniwasan, Managing Director, Kotak Investment Advisors Limited (KIAL) mentioned, “We are delighted to support the TVS group and R Dinesh in consolidating their ownership in a valuable and high growth technology led business. This financing support demonstrates Kotak’s ability to work closely with entrepreneurs and business owners as a confidante and preferred partner to find solutions to complex issues.”
KSSF is another funding fund underneath SEBI laws managed by Kotak Investment Advisors Ltd. And, KIAL is part of the Kotak Mahindra Bank and focuses on the alternate property enterprise.
The firm claims that it has robust capabilities in offering provide chain options, freight forwarding and final mile logistics with lengthy standing relationships with marquee shoppers.
Eshwar Karra, chief govt officer of Kotak Special Situations Fund at KIAL mentioned, “This investment is in line with our objective of participating in growth-oriented businesses and partnering with industry leaders by offering customised solutions to fit the needs of each business and is a win-win for all.”
KSSF is managed by Kotak Investment Advisors and TVS SCS is a 3rd social gathering logistics providers supplier.
Kotak said that the funding is suitably positioned to seize the excessive progress potential market each in India and globally.