Kotak Alts Makes Strategic Rs 750 Crore Investment in Lloyds Metals

Kotak Alternate Asset Managers has unveiled a strategic investment of Rs 750 crore into Lloyds Metals and Mining on Thursday. The financial infusion targets non-convertible debentures issued by the mining giant.

Rahul Chhaparwal, a partner at Kotak Alts, remarked that this investment is designed to support the company's forthcoming phase of growth and enhance their capacity expansion. He emphasized its strategic alignment with Lloyds' long-term ambitions and flexible capital needs.

Mukesh Gupta, Lloyds' chairperson, expressed optimism that the strengthened capital base will facilitate the scaling of their mining and steel operations. Operative since 1977, Lloyds is a leading player in India's metals sector, recognized for their Surjagarh iron ore mine operations.

(With inputs from agencies.)