The DRS Group, Hyderabad-based Rs 200 crore logistics company, is raising Rs 100 crore from private equity investors as part of its second round of funding plans.The company is in talks with a few private equity investors including an overseas investor from the US. It plans to use the money to fund expansion of its third-party logistics business.
The group is in advanced stages of completing the second round funding and will announce it within this month. The company is planning to divest 10-12 per cent equity to raise Rs 100 crore, Agarwal told Business Standard.In March this year, the DRS Group divested 20 per cent equity and raised Rs 100 crore from Kotak Mahindra Bank’s private equity arm.
The company provides 3PL logistics service to companies like Reliance Retail, Future Group, MRF Ltd, Hyundai Motors, Lifestyle and Aditya Birla Group among others.Agarwal said the DRS Group is also foraying into three new business areas — shipping, courier and railway cargo. It plans to acquire an existing company in each of these new areas to expand its business.
Read more in The Business Standard article.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment