Business

TVS family gets Rs 800 crore to raise stake in Supply Chain

Mumbai: TVS Supply Chain Solutions (SCS) and promoters of the TVS Family will receive an investment of Rs 1,000 crore from Kotak Special Situations Fund (KSSF), managed by Kotak Investment Advisor. The investments will help the TVS family consolidate their holdings in TVS SCS.

Under the transaction, KSSF has financed TS Rajam Rubbers Private Limited with Rs 800 crore in the form of non-convertible debentures (NCDs) to help the promoter, R. Dinesh, acquire Canada-based institutional investors CDPQ's stake in TVS SCS. The investments will help the TVS family consolidate their holdings in TVS SCS.

Additionally, KSSF has invested Rs 200 crore in the form of equity in TVS SCS, which is a leading third-party logistics (3PL) services provider with global operations.

"The company has strong capabilities in providing supply chain solutions, freight forwarding and last mile logistics with long standing relationships with marquee clients," a Kotak release said.

Source:

www.deccanchronicle.com

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