Kotak Bank arm raises $590 mn fund for data centre investments in India

A Kotak Mahindra Bank arm on Tuesday announced that it has raised $590 million (about Rs 4,885 crore) for investments in the data centres in the country.

Kotak Investment Advisors (KIA) said it plans to raise $800 million under the Kotak Data Centre Fund and this is the first close for the same, as per a statement.

The statement said the fund is the first such dedicated platform to invest in data centres in the country, and added that it will be domiciled in GIFT City in Gujarat where entities receive a slew of benefits.

KIA's executive director Rahul Shah said the current