The India Resurgence Fund (IndiaRF), an investment platform promoted by Piramal Enterprises and Bain Capital, has invested Rs 550 crore in Impresario Entertainment and Hospitality for a controlling stake. The fresh capital will be used for expansion of Impresario's business, which had also received an investment from L Catterton in 2017. It currently owns and manages brands such as Social, Mocha, and Smoke House Deli at 63 outlets across 17 cities. With the capital infusion, Impresario plans to double its number of outlets and the geographical presence to 30 cities over the next few years.
Piramal Enterprises is one of India’s large diversified companies, with a presence in Pharmaceuticals, Healthcare Information Management and Financial Services.
