Kotak Special Situations Fund (KSSF), administered by Kotak Investment Advisors Limited (KIAL), announced an investment in Gold Plus Glass Industry Limited of up to Rs 450 crore (Gold Plus).
With two manufacturing lines in North India, Gold Plus is India’s second biggest float glass producer, delivering a comprehensive range of Clear Glass and Value-Added Glass products.
KSSF would contribute up to Rs 450 crore of the total up to Rs 600 crore raised by Gold Plus, while Premji Spend, an existing investor in Gold Plus, will invest up to an additional Rs 150 crore.
Subhash Tyagi, Chairman, Gold Plus said, “Gold Plus is poised for its next phase of growth by participating and contributing to the ‘Make-in-India’ vision of the Government of India. I am pleased to welcome KSSF on board, along with Premji Invest who have shown confidence in our Company by investing in the second round of funding. Our journey over the past decade has been about being the one stop solution for glass, investing in the future and capability enhancement. We will continue to create consistent value for our stakeholders and scale new levels of success.”
