TVS ILP announces strategic partnership with Lingotto via stake sale

Lingotto will get a 21 per cent shareholding in logistics giant that is part of TVS Mobility Group

TVS Industrial and Logistics Parks (TVS ILP) on Tuesday announced a strategic partnership with Lingotto, an investment management company owned by Dutch firm Exor N V.

The "transformative partnership" was set in motion through a secondary stake sale in TVS ILP by existing investor British International Investor, United Kingdom’s development finance institution (DFI), said a statement by the logistics company. The secondary transaction was done at an enterprise value of Rs 2,800 crore. As part of the deal, Lingotto will get a 21 per cent shareholding in TVS ILP.

TVS ILP, which is part of TVS Mobility Group, said it is a leader in Grade A warehousing and has facilities. The company aims to be a leader in integrated logistics parks, offering services tailored to clients’ needs. The company’s clients are industry leaders in sectors such as fast-moving consumer goods, fast-moving consumer durables, and e-commerce.

The company, which was incorporated in 2005, said it has more than 98 per cent occupancy at its logistics parks and warehouses with 100 per cent utilisation for the past six years.

“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,” said Ravi Swaminathan, vice chairman of TVS ILP.

Ashish Kaushik, partner at Lingotto, said: “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 accelerate their growth trajectory. We look forward to working closely with TVS ILP.”