Kotak Mahindra Bank arm invests Rs 550 cr in Sanghi Cement maker
Admin
Nov 30, 2022 11:15
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A Kotak Mahindra Bank arm on Tuesday announced that it has invested Rs 550 crore in Sanghi Industries Group by subscribing to non-convertible debentures of the cement-making company and its promoter grouping.
Kotak Special Situations Fund's infusion will correct Sanghi Industries' capital structure, help the company's liquidity profile, and enhance its operations, according to a statement.
The investments being done from a USD 1 billion fund by KSSF will include Rs 500 crore in the NCDs of Sanghi Industries (SIL) and the remaining Rs 50 crore in the NCDs of a company owned by the promoters of SIL which in turn will be infused into the company.
