Kotak Special Situations Fund invests ₹500 crore in Nirma unit

Date posted: Friday 17 July 2020

Kotak Special Situations Fund, managed by Kotak Investment Advisors Ltd, said it has made an investment of ₹500 crore in Nirma Group unit Nuvoco Ltd, to help finance the latter’s acquisition of Emami Cements Ltd. This financing is a timely investment for achieving financial closure for Nuvoco to consummate the acquisition and consolidate its position as a leading cement manufacturer in Eastern India, Kotak said in a statement.

(Live Mint)