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Mahindra Logistics Ltd (MLL), a subsidiary of Mahindra & Mahindra Ltd, has received an investment of ₹200 crore for a significant minority stake from Kedaara Capital. This is Kedaara Capital’s maiden investment and is an endorsement of the long-term growth potential of the Indian logistics sector.
“We are delighted to have Kedaara on board with us. They will add significant value to our expansion plans as well as in evaluating and executing an acquisitions-led growth strategy. This is a significant step towards an IPO by 2017 and achieving our vision of being India’s preferred integrated logistics service provider,” Pirojshaw Sarkari, CEO, MLL, said.
MLL is a third-party logistics (3PL) service provider.
According to Manish Kejriwal, Managing Partner, Kedaara Capital: “This investment is in line with our focus of partnering with leading Indian business groups to enhance the value of their businesses. We are privileged to have a longstanding, trust-based relationship with the Mahindra Group and are excited at this opportunity to work alongside a terrific management team to help create a world-class 3PL company. Further, our collaboration with Mahindra Partners will allow us to exploit many other opportunities together”.
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