Goldman Sachs picked up significant minority stake (anywhere between 10% and 30%) in Chennai-based TVS Logistics Services Ltd, an integrated logistics service provider, for a consideration of Rs 100 crore. This is the first such investment being made by a PE player in any of the TVS group company so far, said Suresh Krishna, chairman of TVS Logistics and CMD, Sundram Fasteners Ltd.

With the wider presence both in domestic and overseas markets through joint ventures, the PE investment will facilitate the company to achieve Rs 1,000 crore target by 2010 as against Rs 340 crore now. ?We plan to list the company once the market conditions improve,? Krishna said.

The Indian logistics industry size is estimated to be 13% of the GDP and the company has a huge market to grow fast. ?The industry is in a nascent stage and the company has a fabulous future,? he said further.

R Dinesh, director, TVS Logistics, said, ?We are growing 35-40% annually and we expect to maintain the same.? He added that TVS Logistics has recently acquired 50% stake in Mumbai-based Greenarches Ltd and renamed it as TVS Infrastructure Ltd.