India Resurgence Fund invests $156 mn in Archean Chemical - Feedback

Distressed asset player India Resurgence Fund (IndiaRF) committed USD 156 million in debt and equity support to Archean group’s marine chemicals business. The investment will be used to refinance Archean Chemical Industries’ existing debt and towards capital investment to optimise output at a plant across all product lines.

The investment will be used to refinance Archean Chemical Industries’ existing debt and towards capital investment to optimise output at a plant across all product lines, the fund, which is a joint venture between Piramal Enterprises and Bain Capital, said in a statement. The infusion will also be used for providing working capital to enable the business to grow its market share in India and export markets such as Japan, China, the Middle East and Europe, it added.

https://economictimes.indiatimes.com/articleshow/66809172.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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