TVS Supply Chain Solutions on Monday mentioned it has raised ₹590 crore from a fund managed by Europe-based diversified holding company Exor, for its future development and transformational initiatives.
Earlier this year, Exor, which is managed by the Angelli household, had, via one other fund managed by them, invested in Ki Mobility Solutions, which is a subsidiary of TVS Automobile Solutions, in response to a press release.
₹ 39,990* Onwards
Tvs Apache Rtr 200 4v
₹ 1.26 Lakhs*Onwards
Tvs Ntorq 125
₹ 72,065* Onwards
Tvs Iqube Electric
₹ 1.01 Lakhs*Onwards
Tvs Apache Rtr 180
₹ 1.04 Lakhs*Onwards
“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,” mentioned R Dinesh, managing director of TVS Supply Chain Solutions.
(Also Read: Diwali buying? Top 5 household scooters to purchase in India this festive season)
He added that this funding will considerably add worth to the company’s business and supply the required impetus to realize its development potential.
The company will use the fund to develop its business, additional strengthen its know-how functionality and for different transformational initiatives, it mentioned.
Rothschild & Co partnered with TVS SCS on this transaction according to the strategic imaginative and prescient of the organisation, the company mentioned.
It added that Khaitan & Co and Nishith Desai Associates acted as counsels to TVS Supply Chain Solutions and Exor, respectively, for this deal.
This story has been revealed from a wire company feed with out modifications to the textual content.