Kotak Special Situation Fund invests ₹250 crore in Sanjaya Mariwala’s SPV
February 23, 2021 Kotak Special Situations Fund has invested ₹crore in Sanjaya Mariwala’s Special Purpose Vehicle (SPV) to help the latter buy out two B2C supplement businesses ‘Setu’ and ‘Edence’ from Omniactive Health Technologies and provide further capital for its nutraceuticals businesses.
India is expected to be one of the global leaders in the nutraceuticals industry and the acquisition of Setu and Edence will create a focussed growth trajectory in the B2C space.
Srini Sriniwasan, Managing Director, Kotak Investment Advisors, said the acquisition is well-poised to capture the increasing trend towards a health-conscious lifestyle and focus on natural health supplements.
Stocks in focus: Antony Waste, ONGC, DHFL, RIL, Reliance Home Finance, IDBI Bank, Canara Bank
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Hi there! Welcome to ETMarkets Morning, the show about money, business and markets. I am Nandini Sanyal, and here is what we have to start your day. US Congress clinches deal on $900 billion Covid relief 2020 best year for IPO listing gains in India Crypto fever grips India, 1 million new investors flock to bitcoins
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Mumbai: Kotak Special Situations Fund (KSS), Asset Reconstruction Company (India) Ltd (Arcil) and Acre ARC are among six bidders that have expressed interest to buy the debt-laden
Reliance Home Finance (RHFL), multiple people familiar with the process told ET.
Lenders led by
Bank of Baroda (BoB) are seeking buyers for the debt-laden company through an inter-creditor agreement outside the Insolvency and Bankruptcy Code (IBC).
“Asset reconstruction companies are taking the lead in bids since a majority of loans by this company are to retail investors through affordable home loans, small builders or loans against properties which will require use of the power of the Sarfaesi Act to recover the advances as retail loans are not covered by IBC,” said one of the persons cited above.
Updated Dec 21, 2020 | 10:50 IST
While Kotak Special Situations Fund has partnered with its group ARC Phoenix, Arcil has teamed up with its single largest shareholder, Avenue Capital.Asset reconstruction companies are taking the lead in bids Arcil, Kotak Fund and 4 others among bidders for debt-ridden Reliance Home Finance | Photo Credit: BCCL
New Delhi: Six bidders have reportedly submitted bids for debt-ridden Reliance Home Finance Limited (RHFL). Of these, only two bidders have submitted compliant and binding bids while the other four have submitted non-binding and non-compliant bids.
Kotak Special Situations Fund (KSS), Asset Reconstruction Company (India) Ltd (Arcil), and Acre ARC are among the six bidders that have expressed interest to buy RHFL, reported
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