Kotak Alternate Asset Managers invests Rs 750 cr in debentures of Lloyds Metals and Mining

Mumbai, May 14 (PTI) Kotak Alternate Asset Managers on Thursday announced a Rs 750 crore investment in non-convertible debentures issued by mining company Lloyds Metals and Mining.
     Kotak Alts' partner Rahul Chhaparwal said the investment is aimed at supporting the mining and metal player's next phase of growth and capacity expansion, while providing a flexible capital solution aligned with its long-term objectives.
     "We look forward to deepening our relationship with the Lloyds Group and partnering with them as they continue to scale the business," he added.
     Lloyds is a fast-growing integrated player in India's metals and mining sector with operations spanning iron ore mining, supported by a strong pipeline of downstream steel capacity expansion, according to a statement.
     The company's chairperson, Mukesh Gupta, said the investment will strengthen its capital base as it continues to scale the mining and integrated steel operations.
     "Kotak's solution-oriented and long-term approach aligns well with our growth plans, and we look forward to building this partnership as we expand our platform," Gupta said.
     Lloyds was incorporated in 1977 and is currently one of the country's biggest iron ore miners. It operates the Surjagarh iron ore mine in the Gadchiroli district of Maharashtra.

(This story has not been edited by THE WEEK and is auto-generated from PTI)