Kotak Funds Make Significant ₹732 Crore Investment in RattanIndia Power

New Delhi: In a recent release, RattanIndia Power Limited has announced that Kotak Strategic Situations India Fund II (KSSF II) and Kotak Private Credit Fund (KPCF), both managed by Kotak Investment Advisors Limited (KIAL), have made a substantial investment of ₹732 crore in the non-convertible debentures (NCDs) issued by the company.

RattanIndia has disclosed that a consortium of lenders will be injecting a total of ₹1,125 crore, out of which the investment made by Kotak Strategic Situations India Fund II and Kotak Private Credit Fund constitutes a portion. The funds received will be utilized for the purpose of debt refinancing, as stated by RattanIndia.

RIPL, a power company within the RattanIndia Group led by Rajiv Rattan, has received investments of ₹582 crore and ₹150 crore from KSSF II and KPCF respectively. The company plans to utilize these funds to refinance its existing debt. By aligning the fundraising strategy with expected cash flow generation, RIPL aims to reduce overall costs while improving its financial profile. Kotak Investment Advisors, managing KSSF and KPCF, views this investment as an opportunity to provide patient funding and a tailored financial solution to meet RIPL's requirements. With an operational capacity of 1,350 MW at its thermal power plant in Amravati, Maharashtra, RIPL stands as one of the few private-sector thermal power generators supplying electricity to MSECDL (Maharashtra State Electricity Distribution Company Ltd.).