New Delhi: Kotak Strategic Situations India Fund II (KSSF II), managed by Kotak Investment Advisors Limited (KIAL), Tuesday announced an investment of INR 450 crore to back Viney Corporation Private Limited (VCPL) an its promoter Brijesh Aggarwal.
Under the transaction, KSSF II worked with the company to create a comprehensive bespoke funding solution that enabled Brijesh Aggarwal to acquire a majority stake in VCPL from the existing investors, clean up the capital structure and prepare the company for future expansion and fundraising opportunities.
Eshwar Karra, CEO, Kotak Strategic Situations India Fund II at Kotak Investment Advisors Limited, said, “We are bullish on the automotive sector and consequently the growth prospects of the auto-component industry. We are thrilled to partner with Brijesh Aggarwal to back his vision of increasing India’s footprint in the global auto-component industry. This investment re-emphasizes our fund’s ability to partner with industry leaders in their respective domain and to provide them with customised capital solutions for their unique situations.”
Brijesh Aggarwal, MD, VCPL, said, “This is an exciting phase for VCPL. We look forward to working with Kotak Strategic Situations India Fund II to build a global auto components manufacturing platform. We will strive to meet the expectations of our stakeholders through value creation and accelerating our growth trajectory with best-in-class quality, performance and profitability standards.”
