Lingotto buys 16.5 per cent stake in TVS Industrial and Logistics Park
CHENNAI: Lingotto, the UK-based asset management company, buys 16.5% stake in TVS Industrial and Logistics Park (ILP), part of TVS Mobility Group, at an enterprise value of Rs 2,800 crore. The transaction from existing investor British International Investment (BII) took place through a secondary stake sale, the company announced on Wednesday. Lingotto already bought a 4.5% stake in ILP from TVS SCS, another company of the TVS Mobility group, in September. It was valued at Rs 51 crore.
The deal indicates the potential value of the privately held company of the TVS Mobility group. In the annual returns of the 2021-22 financial year, TVS ILP reported its net worth at Rs 569.3 crore and a turnover of Rs 187 crore. The company expects the value of the company to rise further as the Indian warehousing and logistics sector is poised to grow.
TVS ILP provides plug and plays manufacturing facility, warehouse, and distribution network focusing on e-commerce, FMCG and consumer durables companies and third-party logistics. Started in 2005, it has a presence in 19 countries and is one of the largest warehouse players in the country. It plans to expand integrated logistics parks across the country and increase its warehousing capacity. Currently, its presence is concentrated in the southern region, though it is present in some major hubs in the northern and western regions.