India: Kotak Special Situations Fund invests in TVS Supply Chain Solutions

Photo: Reuters

Kotak Special Situations Fund (KSSF) today announced an investment of ₹1,000 crore to back TVS Supply Chain Solutions Limited (TVS SCS) and promoters of the TVS Family. TVS SCS, a third party logistics (3PL) services provider, has strong capabilities in providing supply chain solutions, freight forwarding and last mile logistics with long standing relationships with marquee clients.

Under the transaction, KSSF has financed TS Rajam Rubbers Private Limited with ₹800 crore in the form of non-convertible debentures (NCDs) to help the promoter, R Dinesh acquire CDPQ’s stake in TVS SCS. The investments will help the TVS family consolidate their holdings in TVS SCS. Additionally, KSSF has invested ₹200 crore in the form of equity in TVS SCS.

Srini Sriniwasan, Managing Director, Kotak Investment Advisors Limited 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. This financing support demonstrates Kotak’s ability to work closely with entrepreneurs and business owners as a confidante and preferred partner to find solutions to complex issues.”

Eshwar Karra, CEO – Kotak Special Situations Fund at Kotak Investment Advisors Limited said, “We look forward to working with R Dinesh and supporting TVS SCS leverage its strong capabilities to provide innovative supply chain technology solutions. This investment is in line with our objective of participating in growth-oriented businesses and partnering with industry leaders by offering customised solutions to fit the needs of each business and is a win-win for all.”

Kotak Special Situations Fund (KSSF) is an alternative investment fund managed by the Alternate Asset Management Company – Kotak Investment Advisors Ltd. KSSF currently manages a $1 billion fund with a mandate to invest in special situations, credit and distressed space in India.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.