A special fund managed by the Kotak Investment Advisors (KIAL) on Wednesday said it has acquired a majority stake in a road asset in Telangana for Rs 715 crore.
“Kotak Special Situations Fund (KSSF) – managed by KIAL – said it has acquired 74 per cent stake in HKR Roadways (HKR), and funded the debt in the company for a one-time settlement (OTS) with existing lenders for Rs 715 crore. This successful funding and resolution of debt is the first one in the road sector for KSSF.”
Post settlement of dues, HKR will no longer be a non-performing asset (NPA) account.
