PE Fund Investments
Autocomp co Viney Corp's promoters raise Rs.450-Cr from Kotak fund
The promoters of Viney Corporation Pvt Ltd, a New Delhi-headquartered auto ancillary player in mechanical, mechatronic and electronic technologies for wiring harnesses, connectors and switches, have raised INR 430 crore through non-convertible debentures (NCDs) from Kotak Special Situations Fund to buy out the stake held by existing private equity investor Synergy Capital. ICICI Securities and Dynamic Orbits Consultants were the financial advisors for the transaction. Founded in 1992, Viney Corp operates through 10 production facilities - eight in India and two overseas. The company claims BMW, Rolls Royce, GM, Maruti, Hero, Bajaj, Honda, Tata, Yamaha, Renault and Fiat as its clients. Synergy Capital had acquired a 50.01% stake in the company in 2020.
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