Kotak Special Situations Fund infuses Rs 1,000 crore in TVS Supply Chain

Kotak Special Situations Fund (KSSF) on Monday announced an investment of Rs 1,000 crore in TVS Supply Chain Solutions Limited (TVS SCS).

Kotak Special Situations Fund (KSSF) on Monday announced an investment 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 said in a release. "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) 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. 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 an alternative investment fund under SEBI regulations managed by Kotak Investment Advisors Ltd. And, KIAL is a part of the Kotak Mahindra Bank and focuses on the alternate assets business.