Kotak fund, Premji Invest to infuse ?600 cr in glass manufacturer

Mumbai: Kotak Special Situations Fund (KSSF) and private equity firm Premji Invest have announced an investment of <600 crore (around $80 million) in New Delhi-based Gold Plus Glass Industry Limited (Gold Plus). Under the transaction, Premji Invest, an existing investor in Gold Plus, will invest up to an additional ₹ 150 crore. "The funds raised by Gold Plus will be used to invest in the Company's expansion plan of setting up two new float glass manufacturing lines and one solar glass line in South India for a project of up to Q,500 crore," Kotak group said in a statement on Monday.