Kotak Special Situations Fund (KSSF) – managed by Kotak Investment Advisors Limited (KIAL), on Wednesday announced that it has invested ₹410 crore in DCW Limited (DCW) in the form of debentures.
“KSSF has invested in the form of non-convertible debentures and optionally convertible debentures (OCDs) in DCW,” it said in a statement, adding that on conversion, the OCDs will result in an 11 per cent stake in DCW for KSSF.
KSSF funding will help DCW to refinance its existing term loans, improve its working capital, enhance its capacity utilisation to meet the growing demand for its products and scale up the specialty chemicals operations, it further said.
Srini Sriniwasan, Managing Director, Kotak Investment Advisors Limited, said, “This investment is in line with our ability to provide unique and flexible capital solutions which are not ordinarily available in the ecosystem.”
KSSF has been investing from its $1-billion fund in a variety of structured investment situations.
Eshwar Karra, CEO, KSSF, said, “Our financing facility will help DCW chart its growth as a leading specialty chemicals player. DCW now has financial flexibility and liquidity to achieve long-term growth.”
DCW manufactures PVC, C-PVC (chlorinated polyvinyl chloride), caustic soda, soda ash and SIOP (synthetic iron oxide pigment).
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.