We understand that this is a first-of-its-kind investment by an impact investor in our industry and are humbled by the confidence shown by CDC in our group.
TVS Industrial and Logistics Parks (TVS ILP), a 50:50 joint venture between TVS Supply Chain Solutions and Ravi Swaminathan Associates, on Thursday announced that it will raise undisclosed growth capital from CDC Group, the UK’s publicly owned impact investor.
This is the first time the company is raising an institutional investment. CDC will become a significant minority shareholder in the business.
R Dinesh, director, TVS Industrial & Logistics Parks, said, “TVS ILP has been consistently growing over the years. To propel the company to the next level of growth, we feel bringing in a strategic investment partner is the ideal next step. TVS ILP and CDC have a similar vision to bring in the best-in-class environmental and sustainable practices to this industry hence, we are eagerly looking forward to this partnership.”
The company was set up in 2005 to support the group’s supply chain initiatives by providing core industrial infrastructure for manufacturing, distribution and sales. Its primary business activity involves creating industrial infrastructure facilities such as industrial and warehouse buildings, and logistics infrastructure parks. It has set up facilities at multiple locations in Maharashtra, Tamil Nadu, Odisha and Rajasthan.
Ravi Swaminathan, director, TVS ILP, said, “Having acquired knowledge and capability in the past 15 years of our existence, we decided to focus on scale and size. To achieve this, we had sought growth capital from investors. We are happy to welcome CDC as our esteemed investor and partner in growth. We understand that this is a first-of-its-kind investment by an impact investor in our industry and are humbled by the confidence shown by CDC in our group. We believe that this partnership … will also be a torch bearer for transparency and governance in our industry.”
Srini Nagarajan, MD and head of Asia at CDC, said, “Our investment will create 3,000 construction jobs and support the creation of a further 500 jobs during warehouse operations. Constructed to EDGE advanced green building standards, the warehousing will also minimise greenhouse gas emissions and support climate change mitigation.”
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
