Kotak Particular Conditions Fund, managed by Kotak Funding Advisors, introduced on Wednesday that it had invested Rs 410 crore in DCW Restricted within the type of debentures.

The fund invested within the type of non convertible debentures (NCD) and optionally convertible debentures (OCD) in DCW.

Upon conversion, the OCDs will end in an 11% stake in DCW for the Kotak Particular Conditions Fund (KSSF), the fund stated in a press release.

The KSSF funding will assist DCW to refinance its current time period loans, enhance its working capital and enhance capability utilization to satisfy rising demand for its merchandise and develop its specialty chemical compounds enterprise.

“This funding is in step with our skill to offer distinctive and versatile capital options that aren’t sometimes out there within the ecosystem,” stated Srini Sriniwasan, Managing Director of Kotak Funding Advisors.

KSSF has invested from its US $ 1 billion fund in numerous structured funding conditions. DCW is a market chief in specialty chemical compounds.

“We stay up for enjoying an energetic function in serving to DCW obtain its long-term imaginative and prescient. Our financing facility will assist DCW plan for progress as a number one participant in specialty chemical compounds. DCW now has the monetary flexibility and liquidity to realize long-term progress, ”stated Eshwar Karra, CEO of Kotak Particular Conditions Fund.

(PTI)