Kotak Mahindra Bank on Friday said two of its arms have invested Rs 732 crore in Rattanindia Power (RIPL) to help the thermal power plant operator reduce the cost of debt servicing.
Kotak Strategic Situations India Fund II (KSSF) and Kotak Private Credit Fund (KPCF) will be investing Rs 582 crore and Rs 150 crore, respectively, in the non-convertible debentures (NCDs) of RattanIndia Power, as per a statement.
The investment is part of an overall Rs 1,125 crore infusion by a consortium of lenders, it said.