Why India is seeing a rising trend of diseases
About one in three Indians is pre-diabetic, two in three are pre-hypertensive, and one in 10 suffers from depression, reveals a recent Health of Nation Report by Apollo Hospitals.
Kotak Special Situations Fund (KSSF) managed by Kotak Investment Advisors Limited (KIAL), on Wednesday said it has invested Rs 410 crore in DCW Limited in the form of debentures.
The fund has invested in the form of non-convertible debentures (NCDs) and optionally convertible debentures (OCDs) in DCW.
On conversion, the OCDs will result in an 11 per cent stake in DCW for Kotak Special Situations Fund (KSSF), the fund said in a statement.
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KSSF funding will help DCW to refinance its existing term loans, improve its working capital, enhance its capacity utilization to meet the growing demand for its products and scale up the specialty chemicals operations. KSSF has been investing from its $ 1 billion fund in a variety of structured investment situations.
“This investment is in line with our ability to provide unique and flexible capital solutions which are not ordinarily available in the ecosystem,” Srini Sriniwasan, Managing Director, Kotak Investment Advisors, said.
DCW is a market leader in specialty chemicals.
“We look forward to play an active role in helping DCW achieve its long term vision. Our financing facility will help DCW chart its growth as a leading speciality chemicals player. DCW now has financial flexibility and liquidity to achieve long term growth,” Eshwar Karra, CEO of Kotak Special Situations Fund, said.
Kotak Mahindra Bank Limited, focuses on the Alternate Assets business of the Group.
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