MUMBAI: An affiliate of global private equity firm Warburg Pincus has agreed to invest $125 million (Rs 850 crore) in an Indian logistics company Stellar Value Chaim Solutions.
Stellar intends to provide integrated logisticsBSE -2.35 % solutions that will include multi-user modern warehousing, primary and secondary distribution, e-fulfilment and cold storage. The company will serve customers in the food & beverages, FMCG, comsumer durables, electronics, lifestyle, automotive, pharmaceuticals and engineering industries.
Singh, Founder and CEO, Stellar Value Chain Solutions called this part of an "exciting stage for the $130 billion Indian logistics and warehousing industry.
"We believe there is a shortage of high quality providers of outsourced logistics services such as warehouse management and distribution to a wide range of sectors in India. Anshuman brings deep domain expertise and a strong track-record of execution and value creation in this industry," said Viraj Sawhney, managing director, Warburg Pincus.
"We are excited to partner with Anshuman, and look forward to building Stellar Value Chain Solutions into a world class logistics company with a strong focus on technology and customer satisfaction. We will also seek to drive further consolidation of the third party logistics sector in India through this platform," he added.