Latest News | Kotak Mahindra Bank Subsidiary Invests Rs 250 Cr to Aid Mariwala's Nutraceutical Brand Buys

Mumbai, Feb 23 (PTI) A fund managed by a Kotak Mahindra Bank subsidiary has invested Rs 250 crore to help entrepreneur Sanjaya Mariwala buy-out two nutraceutical businesses from Omniactive Health Technologies.

The funds have been invested in a special purpose vehicle to help Mariwala buyout the two businesses and will also be used as drypowder for further investment in the two nutraceuticals businesses, 'Setu' and 'Edence', an official statement said.

The investment has been done by Kotak Special Situations Fund (KSSF), which is managed by Kotak Investment Advisors (KIAL).

“We believe that he (Mariwala) is well poised to capture the increasing trend towards health-conscious lifestyle and focus on natural health supplements,” KIAL's managing director Srini Sriniwasan said.

The investment is in line with Kotak Special Situations Fund's objective of participating in growth-oriented businesses and partnering with industry leaders by providing bespoke capital solutions, KSSF's chief executive Eshwar Karra said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)