India Resurgence Fund (IndiaRF), an India-focused investment platform promoted by Piramal Enterprises Ltd. and Bain Capital, has announced an investment of ₹550 crore in Impresario Entertainment and Hospitality Private Ltd.
Following the transaction, IndiaRF has become the majority shareholder of Impresario, the platform said.
The fresh capital will help fuel the further expansion of Impresario’s business, it added.
The company owns and manages brands such as SOCIAL, Mocha, and Smoke House Deli at more than 60 locations in 17 cities of India.
In the future, Impresario plans to double its number of outlets.
Shantanu Nalavadi, Managing Director of IndiaRF, said, “We believe that the next decade will see significant opportunities for Impresario as non-metro cities come up India’s aspirational curve and become major economic centres.”
Riyaaz Amlani, founder and MD of Impresario, said, “As we now begin a new chapter with IndiaRF, we look forward to a fruitful collaboration which we believe will propel Impresario to an exciting next stage of growth.”
