Kotak arm invests Rs 450 cr in auto comp maker Viney Corp

Aggarwal said he wants to build a global auto components manufacturing platform and will strive to deliver best-in-class quality and profits.

A Kotak Mahindra Bank arm on Tuesday announced a Rs 450 crore investment in automobile components company Viney Corporation and its promoter Brijesh Aggarwal. As part of the deal, Kotak Strategic Situations India Fund II, which is managed by Kotak Investment Advisors, has helped Aggarwal acquire a majority stake in the company, clean up the capital structure and prepare the company for future expansion and fundraising.

''We are bullish on the automotive sector and consequently the growth prospects of the auto-component industry,'' KSSF's chief executive Eshwar Karra said, adding that this was a customized capital solution. Aggarwal said he wants to build a global auto components manufacturing platform and will strive to deliver best-in-class quality and profits.

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