Reliance Capital to exit from BLR Logistiks

14 Jul 2011 Evaluate

Reliance Capital-funded BLR Logistiks has initiated discussions with potential strategic partners to explore either an outright sale or a strategic sale of equity of the firm. BLR Logistiks has also engaged Deloitte as financial advisor for this purpose.  However, such type of deal would ensure the exit of the private equity investor Reliance Capital, which holds 31% equity stake in BLR Logistiks. Reliance has been invested with the firm for over four and a half years.

Further, the company would be quite keen to entertain a proposal from an overseas strategic partner looking to establish its operations in India. However, depending on the merits of the proposal, the company would look at offloading either minority or majority stake in the business.

BLR Logistiks had recently held early-stage discussions with an Indian logistics player which has substantial presence in Sri Lanka. However, the current discussion being quite preliminary in nature cannot confirm the certainty of the deal going through.

BLR Logistiks offers integrated logistics services through its fleet of over 500 vehicles and 24 general and custom bonded warehouses across all major Indian cities.

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