FSL has just filed EGM for a possible raise with JPM as an advisor, and we see stock moving up 30% in last 15 days. JPM was incidentally also the advisor to Genpact-Bain deal and that deal got Genpact $3.3 Bn valuation. That, and newsflow from the space got us out from the earlier gloomy stance.
Mumbai based logistics firm Bhoruka Logistics Pvt. Ltd. is in talks with strategic investors and private equity (PE) players to raise Rs 100 crore ($15 million). The company has a nationwide presence in dry and cold chain solutions.