TVS Logistics Services Ltd (TVSLSL) has picked up 51 per cent stake in White Data Systems India Pvt Ltd (WDSI), a subsidiary of the Rs 329-billion Murugappa Group's financial services firm Cholamandalam Investment and Finance Company Ltd (Chola). TVSLSL would invest around Rs 422 million for 51 per cent equity stake directly in WDSI 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 TVSLSL completing its investment in WDSI, consequently the company's holding in