Kotak arm to invest up to Rs 400 cr in Biorad Medisys

Mumbai: Kotak Strategic Situations India Fund II on Tuesday announced an investment of up to Rs 400 crore in medical devices maker Biorad Medisys.

The money from KSSF, which is managed by Kotak Alternate Asset Managers, will be used to set up a new manufacturing plant, repay existing debt and fund increasing working capital requirements, as per a statement.

KSSF's Chief Executive Eshwar Karra said Biorad is well poised to capture a growth coming out of increasing demand for quality healthcare, and added that the government has also been supporting the sector through the Make In India initiative.

***** AI introduces new app for lead cabin crew *Air India on Tuesday said it has rolled out an app for its more than 1,200 lead cabin crew executives that will also help them to document and capture photos of maintenance issues with regard to seats and in-flight entertainment system in an aircraft.

The app Cabin Executive (CE) Plus will be used to personalise guest services, bolster crew assignments, and ensure prompt reporting of any issue related to cabin maintenance for early resolution, according to a release.

Among others, the app allows cabin executives to effectively document and capture photos of maintenance issues with regard to seats, in-flight entertainment systems.

"The observations captured offline during a flight are then automatically routed to Air India's engineering or other relevant teams upon landing and individually tracked to resolution," the release said. PTI RAM TRB