IndiaRF to invest $156 million in Archean Group's marine chemicals business

Archean Chemical Industries Private Limited is one of the leading the largest producer and exporter of industrial salt and bromine in India.

India Resurgence Fund (IndiaRF), a company promoted by Piramal Enterprises Limited and Bain Capital Credit, on Monday announced it will invest $156 million in Chennai-based Archean Group’s marine chemicals business. 

The investment proceeds will be used to refinance Archean’s debt, capital investment to optimise plant output across all product lines, and provide working capital for business in India, Japan, China, Middle East and Europe.

The partnership between IndiaRF and the Archean Group is strategic and long term. IndiaRF has invested through debt and equity, and offered repayment terms such that initial years’ cash flows are re-invested in the business, and