TVS Industrial and Logistics Parks (TVS ILP) is all set to raise ‘growth capital’ from CDC Group, a development finance institution in the U.K. , to grow its business.
TVS ILP is a 50:50 joint venture between TVS Supply Chain Solutions and Ravi Swaminathan Associates. It is for the first time that TVS ILP would be raising institutional investment. This would result in CDC becoming a significant minority shareholder in the business, said the company in a statement.
“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,” said R. Dinesh, director, TVS ILP.
Set up in 2005, TVS ILP primary business activity involves creating industrial infrastructure facilities such as industrial and warehouse buildings and logistics infrastructure parks. It has set up facilities in the states of Maharashtra, Tamil Nadu, Odisha and Rajasthan. TVS ILP is on track to reach its vision of 15 million sq. ft.
