TVS Supply Chain Solutions Raises Rs. 590 Crore From A Fund Managed By Exor

TVS Supply Chain Solutions (SCS), a subsidiary of TVS Group, has announced raising Rs. 590 crore from a fund managed by Exor, a Europe-based diversified holding company controlled by the Agnelli family. The company says that the funds will be used to grow its business, further strengthen its technology capability, and for other transformational initiatives. Rothschild & Co. partnered with TVS SCS on this transaction, while Khaitan & Co. and Nishith Desai Associates acted as counsel to TVS SCS and Exor, respectively, for this deal.

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R. Dinesh, Managing Director, TVS Supply Chain Solutions is confident that this investment will significantly add value to the business and help it grow

Commenting on the latest development, R. Dinesh, Managing Director, TVS Supply Chain Solutions, said, "The investment by Exor reiterates TVS SCS' growth potential and our vision. Supply Chain as a sector in India is expected to grow in double digits and TVS SCS will leverage its tech-enabled Global solutions to outgrow the industry. I am confident that this investment will significantly add value to our business and provide the necessary impetus to achieve our growth potential."

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TVS SCS is known for providing a range of supply chain services from Integrated Supply Chain Solutions to Global Forwarding and Last Mile Solutions tailored as per the need of the business. Until 2019, it was known as TVS Logistics, and later in 2020, Mitsubishi Corp also invested in TVS Supply Chain Solutions for a minority stake in the company. Earlier this year, Exor, through another fund managed by them, had invested in Ki Mobility Solutions - a subsidiary of TVS Automobile Solutions.