Piramal Alternatives, the fund management arm of the Piramal Group, on Thursday announced that it has invested nearly $14 million (Rs 135 crore) in precision manufacturing company Q&Q Solutions India Pvt Ltd through its India Credit Opportunities Fund II.
The investment will support the company’s capacity expansion, strengthen its manufacturing capabilities, and fund strategic growth initiatives, the company said in a statement.
Founded in 2018 and headquartered in Coimbatore, Q&Q manufactures complex, mission-critical components for global original equipment manufacturers (OEMs) across the energy and industrial sectors.
“The funding will help us expand capacity, strengthen our infrastructure, and advance manufacturing capabilities. It will also support our growth through organic and strategic acquisitions as we build a world-class, backward-integrated precision engineering company to meet rising global demand and better serve our OEM partners across multiple domains,” said Gnanasekaran (Gnan), Managing Director, Q&Q Solutions India Private Limited.
The investment marks the seventh deployment by India Credit Opportunities Fund II, a sector-agnostic fund that backs high-growth, mid-market companies with an investment horizon of three to four years.
Piramal Alternatives’ first fund, with a corpus of Rs 2,100 crore, is fully deployed. It has made 17 investments and exited 15 of them.
With a total of $1.6 billion under management, Piramal Alternatives offers tailored capital solutions, ranging from pure credit to structured investments to support business transformation, turnaround, and growth.
