Lingotto, an investment management company owned by Exor N.V., has entered into a strategic partnership with TVS ILP, a part of TVS Mobility Group, to acquire minority stake in the latter for an enterprise value of Rs 2800 crore.
This transformative partnership has been set in motion through a secondary stake sale of 4.5 per cent by TVS SCS for 51.3 crore and soon Lingotto will acquire a significant minority stake in TVS ILP, the company said in a statement.
“This secondary transaction has taken place at an nterprise Value of Rs 2,800 crores, emphasizing the potential and size of TVS ILP,” it said.
The company has a diverse clientele encompassing industry leaders in sectors such as FMCG, FMCD, CDE, 3PLs, ecommerce and many more.
Currently, TVS ILP has a portfolio of 20 million sqft.
“This is yet another milestone in the successful journey of TVS ILP as it continues to create value for all stakeholders. TVS SCS expects the Indian warehousing and logistics sector to continue to grow, which will further enhance the valuation of TVS ILP, which already has seen a multifold increase over the last few years. We continue to hold a significant minority stake at TVS ILP and the strategic partnership with Lingotto should further enable TVS ILP to grow in its value-creation journey,” R. Dinesh, Chairman, TVS Supply Chain Solutions, said.
Commenting on the partnership, Ravi Swaminathan, Vice Chairman, TVS Industrial and Logistics Parks said, “Our vision is to create tech enabled infrastructure solutions to the warehousing and logistics parks industry. We have delivered robust growth for nearly two decades due to evolving customer demands for more sustainable and innovative products. Now is the time to bring the company to the next level by strategically investing in its future. To achieve this, we welcome the Lingotto as a valued strategic partner.”
Lingotto Investment Management LLP (Lingotto), an independent and entrepreneurial investment management company based in London, is wholly owned by Exor N.V., one of Europe’s largest diversified holding companies, and is authorised and regulated by the Financial Conduct Authority.
“TVS ILP is a pioneer in providing logistics and infrastructure solutions to the warehousing and logistics parks industry. TVS ILP is now poised for the next phase in its pan-India growth and we are excited to join the company for accelerating their growth trajectory. We look forward to working closely with TVSILP,” Ashish Kaushik, Partner at Lingotto, said.