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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

Topics
White Data Systems India  |  Tvs Logistics Services  |  Murugappa Group

Gireesh Babu  |  Chennai 

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 ...

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