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Kotak Special Situations Fund infuses Rs 500 cr into Nuvoco Vistas Corporation

Thursday, 16 Jul 2020
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Kotak Special Situations Fund, an alternative investment fund run by Kotak Investment Advisors (KIAL), has announced an investment of Rs 500 crore into Nuvoco Vistas Corporation, a construction material manufacturer, to finance the acquisition of Emami Cements. 
 
The investment from Kotak Special Situations Fund will help Nuvoco Vistas Corporation in completing the acquisition of Emami Cements at an enterprise value of Rs 5,500 crore.
 
The financing is a timely investment for achieving financial closure for Nuvoco Vistas Corporation to complete the acquisition and consolidate its position as a leading cement manufacturer in Eastern India. 
 
Emami Group has successfully divested its 100 percent equity stake in Emami Cements to Nuvoco Vistas Corporation. 
 
KIAL’s investment is with an aim to strengthen the consolidated cement manufacturing business of Nuvoco Vistas Corporation, eventually foraying into primary capital markets. It manages USD one billion fund with a mandate to invest in special situations, credit and distressed space in India.
 
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