TVS Supply Chain Solutions (SCS) says the funds will be used to grow its business, further strengthen its technology capabilities and other transformational initiatives.
see photosTVS Supply Chain Solutions aims to leverage its tech-enabled global solutions to drive the industry forward
TVS Supply Chain Solutions (SCS), a subsidiary of TVS Group, has announced to raise ₹590 crore from a fund managed by Exor, Europe’s diversified holding company controlled by the Agnelli family. The company says the money will be used to grow its business, further strengthen its technology capability and other transformational initiatives. Rothschild & Company partnered with TVS SCS for the deal, while Khaitan & Company and Nishith Desai Associates acted as counsel for TVS SCS and Exor, respectively, for the deal.
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TVS Supply Chain Solutions Managing Director R. Dinesh is confident that this investment will significantly add value to the business and help it grow
Commenting on the latest development, R Dinesh, Managing Director, TVS Supply Chain Solutions said, “Exor’s investment reiterates the growth potential of TVS SCS and our vision. Supply chain as a sector in India is expected to grow in double digits and TVS SCS is expected to grow its technology base to drive the industry forward. Leveraging efficient global solutions. I am confident this investment will significantly add value to our business and provide the necessary impetus to achieve our growth potential.”
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TVS SCS is known to provide a range of supply chain services from integrated supply chain solutions to global forwarding and last mile solutions tailored to the business requirement. Until 2019, it was known as TVS Logistics, and later in 2020, Mitsubishi Corp also invested in TVS Supply Chain Solutions for a minority stake in the company. Earlier this year, Exor had invested in Mobility Solutions, a subsidiary of TVS Automobile Solutions, through another fund managed by them.
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