Kotak Mahindra's PE arm invests in DRS Logistics

New Delhi, Mar 22: Kotak Mahindra Bank today announced a Rs 100 crore investment by its private equity fund in DRS Logistics Pvt Ltd, a Hyderabad-based logistics and transportation service provider and owner of Agarwal Packers and Movers brand.

This is the ninth and largest investment by the bank's private equity group, India Growth Fund.

''The revolution in retail space and strong growth in manufacturing sector provides tremendous growth potential for the logistics services space in the country. We believe that DRS Logistics with its portfolio of services - bulk transportation, warehousing, parcel and home relocation, aircargo - has the potential to be among the leaders in the Indian logistics space,'' said Kotak Mahindra Bank Head (Private Equity) Nitin Deshmukh.

With a fleet of over 550 vehicles, the DRS group has over 122 offices across the country.

DRS Logistics presently has warehousing infrastructure at Gurgaon, Hyderabad, Mumbai and Chennai, and the investment will be utilised to expand its warehousing business and increase the reach of the bulk transportation and home relocation operations.

''We believe Kotak Mahindra are the right partners to help us grow and achieve full potential that the industry has to offer by providing us access to capital, best-in-class governance standards and assistance in our growth strategy,'' Apart from this deal, India Growth Fund's other major investments include Sabare International, Four Soft, Paramount Airways and Home Solutions

UNI