Kotak Fund invests Rs 500 crore in debt-laden Jindal Stainless

Investment to help Jindal Stainless come out of CDR process

Kotak Investment Advisors-managed Kotak Special Situations Fund (KSSF) on Monday announced an investment of Rs 500 crore in Jindal Stainless Limited (JSL) in the form of debt and equity.

This will help the stainless steel producer come out of the corporate debt restructuring (CDR) process as it will aid in repaying its loans and debt obligations to banks, said Kotak Investment Advisors in its release.

Kotak Special Situations Fund is a $1 billion fund with a mandate to invest in special situations in India.

Under the transaction, KSSF has purchased equity shares from lenders of Jindal Stainless and invested in