The Bengaluru-based company FIT 3PL Warehousing is a contract logistics services provider company.

Integrated supply chain solutions, TVS Supply Chain Solutions announced that the company has acquired a stake in FIT 3PL Warehousing Pvt Ltd. The Bengaluru-based company FIT 3PL Warehousing is a contract logistics services provider company.

According to an official statement, TVS Supply Chain Solutions has acquired a 69.1 per cent stake in FIT 3PL, from FIT Consulting and Services Pvt Ltd. It is expected that with this acquisition, the company would further strengthen its pan-India presence.

VS SCS, joint managing director, Ravi Viswanathan said that FIT 3 PL is one of the important business additions and it would further strengthen the TVS SCS’ pan-India presence. With this acquisition, TVS SCS’s technology would be advanced and it will also empower customers to fully utilize supply chains with the latest technologies. He further pointed that the full range of technology capabilities would be optimized to increase cross-selling and up-selling opportunities and provide solutions for all new and existing customers of FIT3PL.

In 2020, Jayem warehousing was rebranded as FIT 3Pl Warehousing Pvt Ltd.

TVS SC

In 2020, Jayem warehousing was rebranded as FIT 3Pl Warehousing Pvt Ltd.

FIT 3PL offers logistics services to approximately 70 customers across various sectors including office automation, FMCG, e-commerce, retail, auto, and engineering, and hi-tech. Its network includes 60 plus facilities managing more than 1.5 million square foot of space in 30 cities across the country.  According to an official statement by the company, the warehouses were located in Tier I and II cities, which have close proximity to industrial zone and warehousing hubs. Previously, TVS SCS raised around Rs 1,600 from investors. This transaction included Rs 590 crore amount raised in October from funds handled by Exor. 

Exor is based in Europe, it is a diversified company that is controlled by the Agnelli family. Kotak Special Situations Fund invested around Rs 1,000 crore in the month of September.

According to various reports, Rs 800 crore was invested by a promoter entity of R. Dinesh, managing director of TVS SCS. The funds were to be utilized for Canadian pension fund CDPQ’s stake and to support the TCS. TVS SCS has strategically completed the acquisition in a bid to be a fully integrated global supply chain solutions provider. 

The company has around 17,000 employees. TVS Group is also planning to take its logistics business public with a Rs 2,500-3,000 crore share sale in the first half of the upcoming year. 

Logisics Business

TVS Group is also planning to take its logistics business public with a Rs 2,500-3,000 crore share sale in the first half of the upcoming year. 

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