The Hindu Business Line : IGF of Kotak invests Rs 25 cr in Four Soft

FOUR Soft Ltd (4S), a logistics and supply-chain management software solutions provider, has received Rs 25-crore funding from India Growth Fund (IGF), a unit Scheme of Kotak SEAF India Fund, a SEBI-registered venture capital fund.

The private equity fund managed by Kotak Mahindra Bank Ltd has invested in Four Soft through preferential offer of 39,49,447 equity shares of Rs 5 each at a premium of Rs 58.30 per share.

The CEO of Four Soft, Mr Srikanth Palem, said: "The investment by Kotak SEAF India Fund comes at a right time where 4S is positioned for consolidation and future growth. ."

Mr Nitin Deshmukh, Head (Private Equity) of Kotak Mahindra Bank, said: "We are excited about our investment in Four Soft, which is one of the few software product companies from India with blue-chip customers across the US, Europe, and Asia. "We believe our investment, which is for the acquisition of transport & logistics (T&L) division of DCS Group Plc, will help Four Soft attain a leadership position in the T&L vertical worldwide."

India Growth Fund is a $150-million fund focused on investing $5-15 million in emerging companies with an international advantage or those that benefit from a large domestic demand.

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IGF of Kotak invests Rs 25 cr in Four Soft