Om Logistics raises Rs 120cr from Merrill Lynch

Om Logistics Limited has raised Rs 1.2 Billion from Merrill Lynch in debt and equity. Motilal Oswal Investment Advisors, the investment banking arm of Motilal Oswal Financial Services Limited have facilitated this fund raising programme of Om Logistics. A portion of the funds raised would be utilized to finance the acquisition of a Delhi based telecom logistics company, Crossroads Logistics Limited. The remaining is being deployed to expand warehousing capacities across the country and to meet working capital requirements for the future.

Mr. Ajay Singhal, Chairman, Om Logistics Limited said “The Indian Logistics industry is expected to grow at the rate of more than 15% p.a. over the medium term. An increasing importance of quality logistics services by manufacturing sector has provided an impetus to leading logistics players like our company to invest in technology and warehousing space in order to provide an efficient and effective logistics support. Consolidation at top end is expected in this sector in order to scale up. We value Merrill Lynch’s participation and support in our initiatives and therefore enable an inorganic as well as organic growth of the Company.”

Commenting on the deal, Mr. Motilal Oswal, CMD, Motilal Oswal Financial Services limited “India Inc is on a roll. Corporates across all verticals are trying to scale up their operations and our client Om Logistics is no exception. The huge demand for multimodal logistics solutions and warehousing is here to stay. We are happy to have arranged this deal and wish them all the success”.

Sourced From: Adfactors Public Relations Pvt Ltd

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