Piramal Finance commits Rs 485 crore to Apollo LogiSolutions

Jun 29, 2017: Piramal Enterprises through its subsidiary Piramal Finance Limited has committed Rs 485 crore to integrated third party logistics (3PL) solutions provider, Apollo LogiSolutions (“ALS”). The investments were made through the Corporate Finance Group (CFG).

Piramal Finance Limited will be a long term investor with the company as it seeks to scale up its operations over the coming years. ALS plans to use this growth capital in various capacities such as organic growth of existing business, ramping up of new business ventures as well as consolidation of ownership in various joint ventures.

Khushru Jijina, managing director, Piramal Finance, said “The logistics space has been on our radar as a focus area for a while now. As is standard practice across our platform, we committed to an in-depth study of the sector over the past few quarters which culminated into this transaction. We look forward to more such transactions as we further scale up our investment focus towards this sector.”

Raaja Kanwar, vice-chairman & managing director, Apollo International Limited said, “Apollo LogiSolutions has been one of the few organized 3PL integrated logistics players with multimodal capabilities and a wide geographical reach. We are pleased to partner with an organization of such repute. This investment will boost our capabilities in providing end-to-end logistics solutions to our customers across India and internationally. Looking ahead, we believe that the logistics sector will be fuelled by increasing economic activity, and structural changes on account of GST rollout.”