Kotak Alternate Asset Managers has invested Rs 750 crore ($78.3 million) in the non-convertible debentures (NCDs) of Lloyds Metals & Energy.
Lloyds Metals is a listed integrated mining and metals company in India. The Mumbai-headquartered company’s operations span iron ore mining, supported by a strong pipeline of downstream steel capacity expansion. Its products include iron ore, sponge iron, and pellets, among others.
“Lloyds has built a strong and scalable mining platform with a clear path towards integration,” Rahul Chhaparwal, partner at Kotak Alts, said in a statement. “Our investment is aimed at supporting the company’s next phase of growth and capacity expansion, while providing a flexible capital solution aligned with its long-term objectives,” he added.
Kotak Alts, part of Kotak Mahindra Group, focuses on alternate asset management and investment advisory businesses. The firm was set up in early 2005 and has raised, managed, and advised over $22 billion across different asset classes, including private equity, real estate, infrastructure, special situations, private credit, and investment advisory.
Earlier this month, VCCircle reported that Kotak Alts has started deploying capital from its second fund offering in the private credit strategy and aims to hit the investment vehicle’s final close soon. The firm made an investment from the new vehicle in the highway sector.
