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Business News/ News / India/  Kotak Special Situations Fund invests 350 cr in AGS Transact

Kotak Special Situations Fund invests ₹350 cr in AGS Transact

KSSF has been investing from its $1 billion fund in a variety of structured investment situations

Kotak Special Situations Fund has invested in AGS Transact Technologies in the form of non-convertible debentures,. Photo: MintPremium
Kotak Special Situations Fund has invested in AGS Transact Technologies in the form of non-convertible debentures,. Photo: Mint

Mumbai: Kotak Special Situations Fund (KSSF), managed by Kotak Investment Advisors Limited, on Tuesday said it has invested 350 crore in AGS Transact Technologies Limited (AGSTTL) in the form of non-convertible debentures, the fund said in a statement.

KSSF’s investment in AGS Transact will significantly improve the financial risk profile of the group and help the company implement the next phase of growth.

AGS is a major provider of end-to-end cash and digital payment solutions and automation technology in India with over 30,000 ATMs under management. AGS also provides cash management services (CMS) through its subsidiary Securevalue which is the largest CMS player in the country, the statement said.

“AGS Transact through its innovative solutions has created a niche for itself in both cash and digital payments solutions space and is well poised to provide unique payment and automation solutions. The investment is in line with our ability to provide bespoke capital solutions, not ordinarily available in the ecosystem, and partner with industry leaders with good governance." Eshwar Karra, CEO – Kotak Special Situations Fund at Kotak Investment Advisors Limited, said,

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Swaraj Singh Dhanjal
" Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
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Published: 30 Mar 2021, 04:29 PM IST
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