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TVS Logistics Services buys 51% stake in Chola's WDSI for Rs 422 mn

The revenue from WDSI to Chola during the last financial year was around Rs 491 mn

Gireesh Babu  |  Chennai 

logistics, truck, trnasportation

Services Ltd (TVSLSL) has picked up 51 per cent stake in Pvt Ltd (WDSI), a subsidiary of the Rs 329-billion Murugappa Group's financial services firm Ltd (Chola). would invest around Rs 422 million for 51 per cent equity stake directly in according to the terms of the investment agreement.

With this, TVSLSL, part of the $7-billion TVS Group, will have majority stake in the start-up company, which provides freight data solutions focusing on trucks and commercial vehicles. WDSI, founded in March 2015, runs its freight solutions under the brand iLoads.

"Upon completing its investment in WDSI, consequently the company's holding in will be reduced to 31 per cent from the current 63 per cent and will cease to be a subsidiary of the company," informed the exchanges.

The revenue from WDSI to during the last financial year was around Rs 491 million, which was less than one per cent of the consolidated financials of the financial services arm. had earlier launched a trip loan business to leverage the potential of WDSI.

WDSI has additional operational facilities in Delhi, Mumbai, Hyderabad, Kochi, Bengaluru and Coimbatore, and currently provides pan-India reach for transporting goods from these hubs, says the company.

is a top third-party company in the country with integrated supply chain solutions across the world, directly or through joint ventures and subsidiaries. Its services include contract logistics, warehousing, transportation, freight forwarding, packaging, design and solutions, among others.

First Published: Thu, September 20 2018. 21:47 IST
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