Hyderabad, Mar 22 (UNI) Kotak Mahindra Bank's Private Equity Group and DRS Group today announced India Growth Fund's ninth investment of Rs 100 crore in DRS Logistics Pvt Limited, a fast growing logistics and transportation service provider based out of Hyderabad.
A front runner in the logistics business, the 'largest' domestic home relocation service provider company operating under the brand name 'Agarwal Packers and Movers', has a fleet of over 550 vehicles, and over 122 offices across the country.
The company presently had warehousing infrastructure at Gurgaon, Hyderabad, Mumbai and Chennai, and the investment was proposed to increase the reach of the bulk transportation and home relocation operations.
The investment would be used to create 1.5 million square feet of warehousing facility with Rs 150 crore. The balance Rs 50 crore would be raised as debt, Company Direector A K Agarwal said.
It had planned new acquisitions and had applied to DGCA to get five aircraft for its entry into air cargo operations next year.
Speaking on the funds largest investment till date, Head Private Equity, Kotak Mahindra Bank Nitin Deshmukh said the revolution in retail space and strong growth in manufacturing sector would provide tremendous growth potential for the logistics services space in the country. DRS planned to come out with an IPO in the next three years.
UNI
A front runner in the logistics business, the 'largest' domestic home relocation service provider company operating under the brand name 'Agarwal Packers and Movers', has a fleet of over 550 vehicles, and over 122 offices across the country.
The company presently had warehousing infrastructure at Gurgaon, Hyderabad, Mumbai and Chennai, and the investment was proposed to increase the reach of the bulk transportation and home relocation operations.
The investment would be used to create 1.5 million square feet of warehousing facility with Rs 150 crore. The balance Rs 50 crore would be raised as debt, Company Direector A K Agarwal said.
It had planned new acquisitions and had applied to DGCA to get five aircraft for its entry into air cargo operations next year.
Speaking on the funds largest investment till date, Head Private Equity, Kotak Mahindra Bank Nitin Deshmukh said the revolution in retail space and strong growth in manufacturing sector would provide tremendous growth potential for the logistics services space in the country. DRS planned to come out with an IPO in the next three years.
UNI
Oneindia Login