TVS Supply Chain Solutions raises 590 cr from Exor-managed fund

TVS Supply Chain Solutions has raised 590 crore from a fund managed by Europe-based diversified holding company Exor, for its future growth and transformational initiatives.
By : PTI
| Updated on: 13 Oct 2021, 07:40 PM
The new investment will significantly add value to the company's business, says MD of TVS Supply Chain Solutions.
The new investment will significantly add value to the company's business, says MD of TVS Supply Chain Solutions.
The new investment will significantly add value to the company's business, says MD of TVS Supply Chain Solutions.
The new investment will significantly add value to the company's business, says MD of TVS Supply Chain Solutions.

TVS Supply Chain Solutions on Monday said it has raised 590 crore from a fund managed by Europe-based diversified holding company Exor, for its future growth and transformational initiatives.

Earlier this year, Exor, which is controlled by the Angelli family, had, through another fund managed by them, invested in Ki Mobility Solutions, which is a subsidiary of TVS Automobile Solutions, according to a statement.

"The investment by Exor reiterates the company's growth potential and vision. Supply chain as a sector in India is expected to grow in double digits and TVS-SCS will leverage its tech-enabled global solutions to outgrow the industry," said R Dinesh, managing director of TVS Supply Chain Solutions.

Trending Cars

Find More Cars

(Also Read: Diwali shopping? Top five family scooters to buy in India this festive season)

He added that this investment will significantly add value to the company's business and provide the necessary impetus to achieve its growth potential.

The company will use the fund to grow its business, further strengthen its technology capability and for other transformational initiatives, it said.

Rothschild & Co partnered with TVS SCS on this transaction in line with the strategic vision of the organisation, the company said.

It added that Khaitan & Co and Nishith Desai Associates acted as counsels to TVS Supply Chain Solutions and Exor, respectively, for this deal. 

First Published Date: 13 Oct 2021, 07:12 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city