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01 December 2022 The CW Team
Kotak Mahindra Bank arm announced that it has invested Rs 5.50 billion in Sanghi Industries Group by subscribing to non-convertible debentures of the cement maker and its promoter grouping.
According to a statement, the infusion of the Kotak Special Situations Fund will correct Sanghi Industries’ capital structure, support the company’s liquidity profile, and improve its operations.
The investment to be made by KSSF from the USD 1 billion fund will include Rs 5 billion in NCDs of Sanghi Industries (SIL) and the remaining Rs 500 million in NCDs of a company owned by SIL’s promoters, resulting in capital Will be done. In the company
With this deal, KSSF has completed 13 deals and cost more than Rs 6.3 billion, the statement said.
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