TVS Logistics Services Ltd (TVSL) has mopped up Rs 100 crore via private equity investment from Goldman Sachs to fuel its growth. This is the first time a private equity investment has been made in a TVS Group company. The funding will support the company to pass Rs 1,000-crore turnover by 2010, increase from Rs 338 crore in 2007-08. Goldman Sachs has infused a significant minority stake. The company likely to go in for an IPO, anytime after 18 months from now. The turnover of TVS group had crossed the $5-billion mark in 2007-08.
TVSL recently acquired a 50 per cent stake in the Mumbai-based Greenarches Ltd and renamed it TVS Infrastructure Ltd. This company will develop logistics parks by infusing about Rs 500 core through a special purpose vehicle. It owns about 20 acres in Pune and 10 acres in Chennai and plans to build up a land bank of about 200 acres in automotive hubs such as Gurgaon, Halol, Hosur, Indore, Lucknow, Singur and Uttranchal. TVSL recently formed 75:25 joint venture company, TVS Dynamic Global Freight Services Ltd, along with Dynamic Freight Forwarding Service.
TVSL recently acquired a 50 per cent stake in the Mumbai-based Greenarches Ltd and renamed it TVS Infrastructure Ltd. This company will develop logistics parks by infusing about Rs 500 core through a special purpose vehicle. It owns about 20 acres in Pune and 10 acres in Chennai and plans to build up a land bank of about 200 acres in automotive hubs such as Gurgaon, Halol, Hosur, Indore, Lucknow, Singur and Uttranchal. TVSL recently formed 75:25 joint venture company, TVS Dynamic Global Freight Services Ltd, along with Dynamic Freight Forwarding Service.
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