Reliance Capital has picked up a 31% stake in BLR India, one of the top five logistics companies in India, for an undisclosed amount. Reliance Capital already owns a 44% stake in the courier and cargo business of DTDC.
BLR offers manifold transport and logistics services and is among the largest players in corporate surface transportation. It owns over 250 vehicles including a truck fleet of more than 130. It contracts another 800 on a daily basis. It has a network of more than 50 offices across the country.
BLR’s specialized services include over-dimensional cargo (ODC) and export-import transportation as well as government-approved bonded warehousing and bonded trucking services. The company is expected to use the funds raised through this transaction for investing in warehouses, trucks and trailers. Tower Capital was the investment advisor to the deal.
For more details, read DNA Money.
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