Kotak Special Situation Fund invests ₹250 crore in Sanjaya Mariwala’s SPV

Our Bureau Mumbai | Updated on February 23, 2021

Kotak Special Situations Fund has invested ₹crore in Sanjaya Mariwala’s Special Purpose Vehicle (SPV) to help the latter buy out two B2C supplement businesses — ‘Setu’ and ‘Edence’ — from Omniactive Health Technologies and provide further capital for its nutraceuticals businesses.

India is expected to be one of the global leaders in the nutraceuticals industry and the acquisition of Setu and Edence will create a focussed growth trajectory in the B2C space.

Srini Sriniwasan, Managing Director, Kotak Investment Advisors, said the acquisition is well-poised to capture the increasing trend towards a health-conscious lifestyle and focus on natural health supplements.

Eshwar Karra, CEO, Kotak Special Situations Fund, said the investment made is in line with the fund’s objective of participating in growth-oriented businesses and partnering with industry leaders by providing bespoke capital solutions.

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Published on February 23, 2021
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