Kotak Alts invests ₹325 crore in Indian equipment maker Gainwell Group to fund expansion

Kotak Alternate Asset Managers Ltd (Kotak Alts) announced on Thursday a ₹325 crore structured capital investment in Gainwell Group. The investment is channelled through Indocrest Transportation Private Ltd, the holding company for the Group’s manufacturing and mining operations.

The capital will fund business expansion and refinance existing debt.

Gainwell Group, led by Chairman and Managing Director Sunil Kumar Chaturvedi, operates across construction and mining equipment, underground mining equipment manufacturing, mining services, cranes, material-handling equipment, defence equipment, natural gas compression equipment and bespoke technology solutions.

The Group has a presence across Asia, North America, Australia and Africa.

Its flagship entity, Gainwell Commosales Private Ltd, is an authorised Caterpillar dealer across North and East India, Nepal and Bhutan. It also conducts underground coal mining operations.

Amit Jain, CEO of Kotak Yield & Growth Fund, said the investment aims to provide long-term, flexible capital to support the Group’s next growth phase. He cited India’s ongoing push in manufacturing and infrastructure as a tailwind for Gainwell’s businesses.

Chaturvedi described the partnership as the beginning of a significant expansion phase, both within India and internationally.

Kotak Alts, part of Kotak Mahindra Group, was established in 2005. It has raised, managed and advised over $22 billion across asset classes including private equity, real estate, infrastructure, special situations and private credit.