Kotak to launch $800 mn infra fund to invest in projects across India
ECONOMY & POLICY

Kotak to launch $800 mn infra fund to invest in projects across India

The $4.7-billion asset manager of the Uday Kotak group, Kotak Investment Advisors (KIA), is planning to launch a $800-million infrastructure fund to invest in projects across India.

Managing Director Srini Sriniwasan told the media that the $1-billion Kotak Special Situations Fund (KSSF), an investor in distressed assets, is likely to complete 75% of its investments by December 2021.

The new fund will be ESG (Environmental, Social and Governance) compliant and not invest in thermal power. Money will be raised from domestic as well as institutional investors worldwide.

This is Kotak's second infrastructure fund. The company had raised a $90 million fund in partnership with Sumitomo Mitsui Banking Corp and Brookfield Asset Management in 2013.

Also in the pipeline is a pre-IPO alternative investment fund for technology companies of about $150 to $200 million, for which it is talking to investors.

KIA's main $1 billion KSSF has already invested 55% of its proceeds in varied sectors from steel, cement, nutraceuticals and roads.

In April 2020, in the midst of the lockdown, KSSF helped Nirma promoters bridge a funding gap and complete its buyout of eastern India based cement company Nuvoco. The Rs 550 crore investment has given KSSF a single-digit stake in the company, which is planning to list in the stock market this fiscal.

KSSF has also backed Mumbai based Sanjaya Mariwala's nutraceuticals business Omniactive Health Technologies with a Rs 250 crore promoter funding for a stake in the business that will also result in an upside when the company lists on the exchanges.

KSSF is close to finalising the buyout of a Rs 1,500 crore distressed road project at a 50% haircut to lenders through a one-time settlement through which it expects steady annuity payments. It has also submitted expressions of interest resolutions through the IBC.

The special situations fund has financed Rs 550 crore to the Prestige Group in taking over a project from the DB Group in Mumbai's Mahalakshmi in February this year.

The company also bought 5 lakh square feet of office space belonging to the erstwhile Religare Group in Saket in Delhi through a bank-run IBC process last month. It had also invested $68 million in Jindal Stainless, helping promoters pay off creditors and exit restructuring in December 2019.

Image Source


Also read: Kotak Mahindra AMC launches India's first REIT fund of funds

The $4.7-billion asset manager of the Uday Kotak group, Kotak Investment Advisors (KIA), is planning to launch a $800-million infrastructure fund to invest in projects across India. Managing Director Srini Sriniwasan told the media that the $1-billion Kotak Special Situations Fund (KSSF), an investor in distressed assets, is likely to complete 75% of its investments by December 2021. The new fund will be ESG (Environmental, Social and Governance) compliant and not invest in thermal power. Money will be raised from domestic as well as institutional investors worldwide. This is Kotak's second infrastructure fund. The company had raised a $90 million fund in partnership with Sumitomo Mitsui Banking Corp and Brookfield Asset Management in 2013. Also in the pipeline is a pre-IPO alternative investment fund for technology companies of about $150 to $200 million, for which it is talking to investors. KIA's main $1 billion KSSF has already invested 55% of its proceeds in varied sectors from steel, cement, nutraceuticals and roads. In April 2020, in the midst of the lockdown, KSSF helped Nirma promoters bridge a funding gap and complete its buyout of eastern India based cement company Nuvoco. The Rs 550 crore investment has given KSSF a single-digit stake in the company, which is planning to list in the stock market this fiscal. KSSF has also backed Mumbai based Sanjaya Mariwala's nutraceuticals business Omniactive Health Technologies with a Rs 250 crore promoter funding for a stake in the business that will also result in an upside when the company lists on the exchanges. KSSF is close to finalising the buyout of a Rs 1,500 crore distressed road project at a 50% haircut to lenders through a one-time settlement through which it expects steady annuity payments. It has also submitted expressions of interest resolutions through the IBC. The special situations fund has financed Rs 550 crore to the Prestige Group in taking over a project from the DB Group in Mumbai's Mahalakshmi in February this year. The company also bought 5 lakh square feet of office space belonging to the erstwhile Religare Group in Saket in Delhi through a bank-run IBC process last month. It had also invested $68 million in Jindal Stainless, helping promoters pay off creditors and exit restructuring in December 2019. Image Source Also read: Kotak Mahindra AMC launches India's first REIT fund of funds

Next Story
Equipment

SANY Named Top Chinese Construction Machinery Firm in Forbes 2000

SANY Heavy Industry (600031.SS) has been recognized as China's premier construction machinery manufacturer in Forbes' 2025 Global 2000 list, ranking 956th position worldwide. The prestigious list evaluates companies based on four key metrics: sales, profits, assets, and market value, with data calculated from the latest 12-month financial results as of April 25, 2025. This achievement underscores SANY's leadership credentials in the global heavy machinery industry, validating its forward-looking "Globalization, Digitalization, and Decarbonization" strategy and reinforcing confidence in its inn..

Next Story
Infrastructure Urban

Vedanta Aluminium Marks Pride Month with Boost in LGBTQI+ Hiring

Vedanta Aluminium, India’s largest aluminium producer, is redefining inclusivity in manufacturing by actively recruiting and empowering transgender individuals across its operations. As part of the Pride Month celebrations, the company has announced that it will hire 15 transgender employees in 2026, increasing the total strength to 44 across its operations in Jharsuguda, Odisha and Korba, Chhattisgarh. Vedanta Aluminium has introduced a comprehensive framework of progressive policies to support the assimilation and well-being of transgender employees. These include sensitization worksh..

Next Story
Infrastructure Urban

Reactor Containment Successfully Tested at Rooppur NPP Unit 1

At power unit No.1 of the Rooppur NPP, which is being built in the People's Republic of Bangladesh by the Rosatom State Corporation Engineering Division, tightness and strength tests have been successfully conducted at the containment of the reactor compartment. The tests confirmed full compliance with the design requirements and the highest safety standards of the reactor containment.During the tests, a compressor was used to increase the pressure inside the containment to the design value of 4.6 kgf/cm² (which corresponds to approximately 0.45 MPa) and a series of tests were conducted to co..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?