TVS SCS raises Rs 590 crore from Exor-managed company, Auto News, ET Auto
Chennai: TVS Supply Chain Solutions on Monday announced it has raised Rs 590 crore from a fund managed by Exor, a leading Europe-based diversified holding company. TVS SCS, a leading provider of Integrated Supply Chain Solutions which includes Global Forwarding and Last Mile, will use the fund to grow its business, further strengthen its technology capability and for other transformational initiatives, a company release here said.
R Dinesh, Managing Director, TVS Supply Chain Solutions, was quoted as saying that “the investment by Exor reiterates TVS SCS’ growth potential and our 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. I am confident that this investment will significantly add value to our business and provide the necessary impetus to achieve our growth potential,” he added.
Earlier this year, Exor, through another fund managed by them, had invested in Ki Mobility Solutions – a subsidiary of TVS Automobile Solutions.
Rothschild & Co partnered with TVS SCS on this transaction in line with the strategic vision of the organisation, the release added.