According to the IFC website, the project consists of an equity investment in India Resurgence Fund. The Fund seeks to resolve corporate distressed assets in India by primarily making distressed to control investments. The Fund’s final size is expected to be US$1 billion.
The project is expected to revitalize a number of distressed companies, and provide capital relief to banks, helping resolve non-performing loans in India that will help preserve jobs. The project is expected to support the implementation of the new regulatory framework and contribute to a more robust distressed asset market, allowing banks to increase lending.
India Resurgence Fund is a joint venture between Piramal Enterprises Limited and Bain Capital Credit. The focus of this venture is to invest capital in the form of debt and equity in distressed assets and special situations in India, creating positive turnarounds with benefits for all stakeholders.
For inquiries about the project
India Resurgence Asset Management Business Private Limited
+91 22 3046 6487
Piramal Tower, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013
For inquiries and comments about IFC
General IFC Inquiries
2121 Pennsylvania Avenue, NW
Washington DC 20433
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