Reliance Capital takes 31 pct in logistics firm BLR India
This is the second investment by Reliance Capital in the courier and cargo business, reports Arun Kumar .india Updated: Jan 22, 2007 20:06 IST
Reliance Capital, through its private equity division, has acquired a 31 per cent stake in BLR India Private Ltd, a transportation and logistics company, for around Rs 50 crore.
This is the second investment by Reliance Capital in the courier and cargo business. Prior to this, it had taken a 44 per cent stake in DTDC in February last year. However, the investment in BLR is done through the private equity arm of Reliance Capital.
The transaction has valued BLR, which has a revenue of around Rs 175 crore at Rs 200 crore.
BLR is a Mumbai-based company and amongst the top five logistics company in India and owns a truck fleet of more than 130 vehicles, and contracts another 800 on a daily basis.
It has a network of more than 50 offices spanning across India and enjoys clients that include DuPont, Honda Siel, Owen, Samsung and Sony.
A Reliance Capital spokesman confirmed the transaction but refused to divulge the consideration amount.