3PL Logistics Player, Apollo LogiSolutions Raises Rs 485 Cr Fund from Piramal Finance Limited
ALS plans to use this growth capital in various capacities such as organic growth of existing business, ramping up of new business ventures as well as consolidation of ownership in various joint ventures.
Raaja Kanwar, Managing Director, Apollo LogiSolutions
Leading 3PL integrated logistics solutions provider, Apollo LogiSolutions (ALS) has raised funds amounting to Rs.485 crores from Piramal Finance Limited, subsidiary of Piramal Enterprise Limited. The investments were made through the Corporate Finance Group (CFG), erstwhile Structured Finance Group, of Piramal Finance Limited.
ALS plans to use this growth capital in various capacities such as organic growth of existing business, ramping up of new business ventures as well as consolidation of ownership in various joint ventures. Piramal Finance Limited will be a long term investor with the company and with this investment, Apollo plans to grow rapidly in the next 5-6years.
Commenting on the development, Mr. Raaja Kanwar, Managing Director, Apollo LogiSolutions said, “Apollo LogiSolutions has been one of the few organized 3PL integrated logistics players with multimodal capabilities and a wide geographical reach. We are pleased to partner with an organization of such repute. This investment will boost our capabilities in providing end-to-end logistics solutions to our customers across India and internationally. Looking ahead, we believe that the logistics sector will be fueled by increasing economic activity, and structural changes on account of GST rollout.’
Khushru Jijina, Managing Director, Piramal Finance Limited, said “The logistics space has been on our radar as a focus area for a while now. As is standard practice across our platform, we committed to an in-depth study of the sector over the past few quarters which culminated into this transaction. We look forward to more such transactions as we further scale up our investment focus towards this sector.”