Kotak Gems to raise Rs 300cr

Kotak Securities has launched a closed-ended fund, Gems, in which 30% of the corpus would be allocated to private placements or pre follow-on Public Offers (FPOs).

"Gems will invest in small-, medium- or large-cap companies that could become 'gems' in future from their current price levels. It will allocate 30% of the fund to private equity or pre-FPO placements in listed companies," Kunj Bansal, senior vice-president, Kotak Securities, said.

"We are targeting to raise about Rs 300 crore till February 10. Of this, 30% or Rs 90 crore would be marked for private placements or pre-FPO investments," Bansal said, adding the lock-in for the fund will be 30 months.