Kotak Special Situations Fund lends Rs.550-Cr to Sanghi Cement

Kotak Special Situations Fund (KSSF), managed by Kotak Investment Advisors Limited (KIAL), has committed to invest INR 550 crore in publicly-listed Sanghi Industries Ltd (SIL) via non-convertible debentures (NCDs). The debenture comes with a tenure of 36 months and a coupon rate of 12% per annum to be paid on monthly basis. SIL, the Ravi Sanghi Group's flagship company, is involved in the production and marketing of cement under the brand name "Sanghi Cement" with a significant presence in Gujarat.