NEW DELHI: Kotak Special Situations Fund–managed by Kotak Investment Advisors–on Monday said it has invested Rs 1,000 crore in TVS Supply Chain Solutions.
Under the transaction, Kotak has financed TS Rajam Rubbers with Rs 800 crore in the form of non-convertible debentures (NCDs) to help the promoter R Dinesh acquire Canadian investment firm CDPQ’s stake in the company.
The investments will help the TVS family consolidate their holdings in TVS Supply Chain Solutions. Additionally, Kotak has also invested Rs 200 crore in the form of equity in TVS Supply Chain Solutions.
TVS Supply Chain Solutions is a leading third party logistics services provider with global operations. It is suitably positioned to capture the high growth potential market both in India and globally, Kotak 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,” said Srini Sriniwasan, Managing Director, Kotak Investment Advisors.
Kotak believes the company has strong capabilities in providing supply chain solutions, freight forwarding and last mile logistics with long standing relationships with marquee clients.
Kotak Special Situations Fund is an Alternative Investment Fund under SEBI regulations. It currently manages a $1 billion fund with a mandate to invest in special situations, credit and distressed space in India.