Mahindra Logistics, a subsidiary of the USD 16.7 billion Mahindra Group, has received an investment of Rs 200 crore for a significant minority stake from Kedaara Capital, a company release said today.

"We are delighted to have Kedaara on board with us. They will add significant value to our expansion plans as well as in evaluating and executing an acquisition led growth strategy," Mahindra Logistics CEO Pirojshaw Sarkari said.

This is a significant step towards an IPO by 2017 and achieving our vision of being India's most preferred integrated logistics service provider, Sarkari added.

Mahindra Logistics is India's leading Third Party Logistics (3PL) service provider.

"Third party logistics is one of the most attractive sub-segments of the Indian logistics industry. Mahindra Logistics is uniquely positioned to leverage these tail winds given its scale, differentiated capabilities and high quality professional management team," Kedaara Capital Managing Partner Sunish Sharma said.

Kedaara Capital is an operationally oriented private equity firm pursuing control and minority investment opportunities in India. It has raised a substantial amount of over USD 540 million in October 2013.

(Agencies)

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