Private Equity

Liquidity Events

Mahindra to acquire logistics unicorn Rivigo's B2B express biz for Rs.225-Cr

BSE Disclosure  

Publicly-listed Mahindra Logistics Ltd (MLL) is to acquire the business-to-business (B2B) express business of Rivigo Services Pvt Ltd as a going concern on slump sale basis for INR 225 crore. MLL will acquire the express business through a Business Transfer Agreement (BTA), including the customers, team and assets of RPSL's B2B express business, RSPL's technology platform and the Rivigo brand. RSPL will continue to own its truck fleet & the rights to the full truck load (FTL) operations. Gurugram-based Rivigo operates in two key business segments: full truck load and B2B express business. Rivigo's B2B express network currently covers over 19,000 pin-codes. Its 250+ processing centres and branches, spanning an area more than 1.5 million sq ft is expected to add significant strength to MLL's express business capability. In FY 2021-22, Rivigo's B2B express business posted a turnover of INR 371.3 crore.

From the Venture Intelligence PE-VC Deal Database: Between 2015 and 2020, Rivigo had raised over USD 275 M from Warburg Pincus, Elevation Capital and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)