TVS Industrial and Logistics Parks, (TVS ILP), a 50:50 joint venture between TVS Supply Chain Solutions and Ravi Swaminathan Associates, today announced that it will raise ‘growth capital’ from CDC Group. TVS ILP and CDC did not disclose any financials. TVS ILP and CDC did not disclose any financials, but sources said that the company raised Rs 400 crore by diluting 40 per cent stake. Avendus Capital is the exclusive financial advisor to TVS Industrial and Logistics Parks on its fund raise from CDC Group. It is the first time that TVS ILP has raised institutional investment. CDC will become a significant minority shareholder in the business.
CDC Group to invest ₹250 cr in TVS Industrial & Logistics Parks for 40% stake
December 17, 2020
The expansion would result in creating job opportunities for about 500 people. TVS Industrial and Logistics Parks (TVS ILP), a 50:50 joint venture between TVS Supply Chain Solutions and Ravi Swaminathan Associates, announced on Thursday that it will raise growth capital from CDC Group, the UK’s publicly owned impact investor.
It will be TVS ILP’s first institutional fund-raise. The company didn’t disclose the financial details, but market sources indicated that it is mobilising about ₹250 crore from CDC Group for a 40 per cent stake.
Avendus Capital was the exclusive financial advisor to TVS ILP in the deal. TVS ILP will use the funds to expand operations, thereby creating job opportunities for about 500 people.