Mahindra Logistics Ltd gets Rs 200 cr investment from Kedaara Capital

Written by Nitin Shrivastava | Updated: Apr 22 2014, 21:33pm hrs
KedaaraIt was Kedaara Capital?s maiden investment after it had in Nov 2013 raised $540 mn. Thinkstock
Kedaara Capital, a private equity firm set up by Manish Kejriwal, former India head of Temasek Holdings, has picked up a significant minority stake in Mahindra Logistics for Rs 200 crore. This is Kedaara Capitals maiden investment after it had earlier in November 2013 raised $540 million through its maiden fund.

Mahindra Logistics Limited (MLL), a subsidiary of Mahindra & Mahindra Ltd, is Indias leading Third Party Logistics (3PL) service provider. Over the past four years, MLL has grown rapidly by diversifying its industry segment focus, developing an integrated supply chain services portfolio, and unique people transport solutions.

Commenting on the deal, Pirojshaw Sarkari, CEO, MLL, said, We are delighted to have Kedaara on board with us. They will add significant value to our expansion plans as well as in evaluating and executing an acquisition led growth strategy. This is a significant step towards an IPO by 2017 and achieving our vision of being Indias most preferred integrated logistics service provider.

Speaking on the investment, Manish Kejriwal, Managing Partner, Kedaara Capital, said, This investment is in line with our focus of partnering with leading Indian business groups to enhance the value of their businesses. Further, our collaboration with Mahindra Partners will allow us to exploit many other opportunities together.