India Resurgence Fund ("IndiaRF"), promoted by Piramal Enterprises Limited and Bain Capital Credit has made an announcement related to an investment of $830 million in Setco Group.

Piramal Enterprises Limited, has financed Rs 400 Cr to Hema Engineering Industries Limited (“Hema”). Proceeds from this loan will be used to refinance existing term lenders and fund the company’s capex plans. The deal was made through Corporate Finance Group (“CFG”), erstwhile structured finance group, of Piramal Finance Limited.