Kotak Alts Pockets Rs 1,650 Cr From HKR Roadways Exit

Kotak Alternate Asset Managers has secured Rs 1,650 crore from selling its stake in HKR Roadways, achieving a two times return on its investment. The firm originally acquired a majority stake from Gayatri Group in May 2021, injecting Rs 800 crore to successfully stabilize and transform the distressed highway asset into a profitable venture.