IndiaRF Acquires Majority Stake in Shree Digvijay Cement from True North, Marking Entry into Cement Sector
Mumbai, India | December 20, 2025: India Resurgence Fund (“IndiaRF”), a leading India-focused investment platform promoted by Piramal Group & Bain Capital, has completed the acquisition of a 45.01% equity stake in Shree Digvijay Cement Company Limited (“SDCCL”). SDCCL is listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), and the stake has been acquired from True North Fund VI LLP (“True North”), for a consideration of up to INR 579 crores. IndiaRF has also announced an open offer for up to 26% equity stake, which is currently awaiting approval from the Securities and Exchange Board of India (SEBI). Post completion of transaction and the open offer, IndiaRF intends to own a controlling stake in Shree Digvijay Cement. IndiaRF currently manages assets and commitm...










