Kotak Fund invests ₹1,000 crore in TVS SCS, promoter family

Our Bureau New Delhi | Updated on September 13, 2021

The investments will help the TVS family consolidate its holdings

Kotak Special Situations Fund (KSSF), which is managed by Kotak Investment Advisors, has announced an investment of ₹1,000 crore to back TVS Supply Chain Solutions Limited (TVS SCS) and promoters of the TVS Family. TVS SCS is a third party logistics services provider with global operations.

Under the transaction, KSSF has financed TS Rajam Rubbers Private Limited with ₹800 crore in the form of non-convertible debentures (NCDs) to help the promoter, R Dinesh, acquire CDPQ’s stake in TVS SCS. The investments will help the TVS family consolidate its holdings in TVS SCS. Additionally, KSSF has invested ₹ 200 crore in the form of equity in TVS SCS.

TVS Group implements family arrangement

Srini Sriniwasan, Managing Director, Kotak Investment Advisors Limited, said in a statement: “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.”

‘We will be 50 per cent invested by June 2021’

Eshwar Karra, CEO, Kotak Special Situations Fund, said, “We look forward to working with R Dinesh and supporting TVS SCS leverage its strong capabilities to provide innovative supply chain technology solutions. 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.”

Published on September 13, 2021

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