KIAL raises Rs.1,386-Cr; achieves first close of Kotak Pre-IPO Opportunities Fund

Kotak Investment Advisors Ltd (KIAL) has achieved the first close of its new Kotak Pre-IPO Opportunities Fund, raising about INR 1,386 crore. The pre-IPO fund will target a range of India-focused late-stage new-age businesses with a strong moat of technology. The fund had initially targeted a corpus of INR 1,000 crore, which was oversubscribed within three months of launch. It exercised its green shoe option for INR 386 crore. The investors in the fund include family offices such as Catamaran, the family office of NR Narayana Murthy.