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IndiaRF to invest Rs 615 cr in Setco Group

Wednesday, 08 Sep 2021
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India Resurgence Fund (IndiaRF), which is promoted by Piramal Enterprises and Bain Capital Credit, along with its affiliates has announced an investment of up to Rs 615 crore in Gujarat-based Setco Group.

As part of the transaction, Setco Automotive will transfer its clutch business into a subsidiary, Setco Auto Systems (SASPL), into which IndiaRF will invest through a senior debt facility.

Wadia Ghandy and Co was the exclusive advisor to Setco Group for this transaction.
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