Private Equity

PE Fund Investments

Lingotto picks up 4.5% stake in TVS logistics parks unit for Rs.51-Cr

Business Line  

Chennai-headquartered TVS Supply Chain Solutions (TVS SCS) has sold a 4.5% equity stake in Mumbai-headquartered associate company, TVS Industrial and Logistics Parks Pvt Ltd (TVS ILP), to Lingotto Opportunity Fund LLP, for INR 51.30 crore. The secondary transaction has taken place at an enterprise value of INR 2,800 crore. Founded in 2005, TVS ILP offers logistics parks and industrial facilities across various strategic belts of the country. Lingotto, an investment management company owned by Italy's Exor NV, had - in October 2021 - invested INR 590 crore in TVS SCS.