Kotak Private Equity Group, the private equity unit of India-based bank Kotak Mahindra Group, has reportedly backed automotive parts company Minda Corporation, investing R125 crore ($24.4m) across two investments.
Kotak Private Equity backed the company, according to news provider VC Circle in February.
Kotak initially acquired a stake in 2011 for R80 crore, and then bought a second tranche of Rs45 crore, VC Circle said.