TVS Logistics business bags investment of INR 1000 crore from Kotak Mahindra Bank

Kotak Special Situations Fund (KSSF), a part of Kotak Mahindra Bank, on Monday announced an investment of INR 1,000-crore into a third-party logistics (3PL) business promoted by the south-based TVS family.

KSSF has invested INR 200 crore in TVS Supply Chain Solutions and has provided a INR 800 crore finance to TS Rajam Rubbers Private Ltd through a non-convertible debentures route.

This will help TVS SCS promoter R Dinesh acquire Canadian pension fund CDPQ’s stake in TVS SCS, an official statement said.

“We are delighted to support the TVS group and R Dinesh in consolidating their ownership in a valuable and high growth technology led business,” Srini Sriniwasan, managing director at KSSF’s parent Kotak Investment Advisors, said.

The investment is in line with its objective of participating in growth-oriented businesses and partnering with industry leaders by offering customised solutions to fit the needs of each business and creating a win-win for all.

~Eshwar Karra, chief executive, KSSF

The fund is registered as an alternate investment fund with the Sebi and currently manages a USD 1 billion fund with a mandate to invest in special situations, credit and distressed space domestically. 

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