Looking at substantial growth in coming years; Harish Sheth, SETCO

IndiaRF to invest upto Rs 615 cr in Setco Group. Setco Automotive Ltd will transfer its clutch manufacturing business into Setco Auto Systems Pvt Ltd. While the company is in the middle of the transaction; Harish Sheth, Chairman and MD Setco Automotive joins ET NOW to help us understand the key rationale behind this transaction. The said transaction is a combination of Debt and Equity. IndiaRF to invest in SASPL through a senior debt facility for a 35% equity stake. “Looking forward to very good partnership and growth” says Harish Sheth. The proceeds will be used to settle with lenders, infuse growth capital and fund its working capital needs. Setco Auto Systems Pvt Ltd is a leading maker of clutches for medium and heavy CV. The company recently diversified into manufacturing clutches for tractors. Looking at the current market construct, he sees huge after market demand and increased tractor supply to fuel the rural demand.
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harish ShethHarish Sheth SetcoHarish Sheth on ET Now