Mahindra Logistics gets Rs200 crore PE investment from Kedaara Capital

Mahindra Logistics Ltd (MLL), part of the $16.7-billion Mahindra Group, has received a Rs200 crore investment in return for a significant minority stake from Kedaara Capital.

This is Kedaara Capital's maiden investment and is an endorsement of the long term growth potential of the Indian logistics sector.

Mahindra Logistics is a third-party logistics (3PL) service provider. In 2009, the Mahindra Group identified logistics as a key focus area, and since then MLL has been part of the Mahindra Partners division, the $800-million quasi-private equity division of the Mahindra Group.

''This investment is in line with our focus of partnering with leading Indian business groups to enhance the value of their businesses. We are privileged to have a long standing, trust-based relationship with the Mahindra Group and are excited at this opportunity to work alongside a terrific management team to help create a world class 3PL company.  Further, our collaboration with Mahindra Partners will allow us to exploit many other opportunities together,'' said Manish Kejriwal, Managing Partner at Kedaara Capital.

''They will add significant value to our expansion plans as well as in evaluating and executing an acquisition led growth strategy. This is a significant step towards an IPO by 2017 and achieving our vision of being India's most preferred integrated logistics service provider,'' said Pirojshaw Sarkari, CEO, MLL.