TVS Industrial and Logistics Parks Pvt Ltd (TVS ILP), a part of TVS Mobility Group, has partnered with Lingotto, an investment management company based in England and owned by Exor NV, a holding company that invests in diverse sectors. As part of the deal, Lingotto will acquire 21 per cent ownership stake in TVS ILP.
In this secondary transaction, TVS ILP has been valued at ₹2,800 crore, highlighting its considerable potential and scale, says a release. TVS ILP, established in 2005, specialises in Grade A warehousing and logistics solutions.
The collaboration has been initiated with the participation of the British International Investor, a current investor, and the UK’s Development Finance Institution.
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“The Board is convinced that this action will secure the long-term success of the company and benefit all stakeholders,” said Ravi Swaminathan, Vice-Chairman of TVS Industrial and Logistics Parks Pvt Ltd.
Warehousing sector
“As we welcome Lingotto to the partnership, we remain committed to supporting TVS ILP’s growth as a leader in the integrated warehousing sector,” said Srini Nagarajan, Managing Director and Head of Asia at British International Investment (BII) Group.
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The company boasts a 20 million square feet (msf) platform and has set industry standards in the Indian Logistics Parks sector, known for strong operational performance.
Ramnath Subramaniam, CEO, TVS ILP, had earlier told businesline that the company wants to expand beyond the 11 cities it is currently present in. “We don’t want to restrict ourselves to the metros or the Tier-1 cities, and, therefore, we are working on an exhaustive 30-city ambition,” he added.