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Kotak Special Situations Fund acquires 74% stake in HKR Roadways

Kotak Special Situations Fund (KSSF) - managed by Kotak Investment Advisors Limited (KIAL), on Wednesday announced that it has acquired 74 per cent stake in HKR Roadways (HKR), and funded the debt in the company for a one-time settlement (OTS) .

KSSF acquires 74% stake in HKR Roadways - The Hindu BusinessLine

KSSF acquires 74% stake in HKR Roadways May 19, 2021 Has funded the debt in the company for a one-time settlement Kotak Special Situations Fund (KSSF) on Wednesday announced it has acquired 74 per cent stake in HKR Roadways (HKR) and has funded the debt in the company for a one-time settlement with existing lenders for ₹715 crore. “This successful funding and resolution of debt is the first one in the road sector for KSSF,” it said in a statement. HKR, a special purpose vehicle owned by a consortium led by Gayatri Group, was awarded a 25 years concession by the Andhra Pradesh Road Development Corporation (now Telangana government).

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