Kotak Special Situations Fund acquires Prius Commercial Projects for Rs 450 crore
Kotak Special Situations Fund (KSSF), managed by Kotak Investment Advisors Limited (KIAL), today announced that it has acquired Prius Commercial Projects Private Limited under the IBC for Rs 450 crore. In an all-cash deal, KSSF led consortium emerged as the successful resolution applicant, with the NCLT, duly approving its resolution plan. Following the acquisition of Prius, KSSF has now closed its first investment under the IBC platform.
Prius is engaged in leasing out commercial space and predominantly owns the building named ‘Prius Platinum’ at a premium location in Saket, Delhi, with a leasable area of 2,59,000 sq. ft.
