UTI Capital, PE arm of UTI, invested R60 Cr in Pristine Logistics & Infraprojects Private Limited, as stated by ET.

The first round of funds for the company will be utilized for setting up inland container depots and private freight terminals under PPP model of Indian Railways.

SSKM Corporate Advisory Pvt. Ltd. was the sole financial advisor in the deal.

Pristine Logistics based in Delhi, operates the following segments:

• Container train management – through long term agreements with container train operators
• Logistics Solutions
• Terminal Management – Long term management by taking charge of operations (commercial & terminal) and marketing and sales of the terminal
• Advisory services – operates a wing that takes up consultancy demands related to the segment and
• Warehouse – operates two of them near Cuttack, Orissa

The company lists major iron & steel firms and engineering firms as its clients like Bhushan Steel, Hindustan Cargo and Visa Steel.

Pristine, which is already operating an inland container depot in Kanpur, also plans to set up logistics parks in Ludhiana, Patna, Indore, Cuttack and Mansi in the next 18 months

Earlier in January UTI Capital had invested R100 Cr for a minority stake in Indian Oiltanking Infrastructure and Energy Service, an equal JV between Indian Oil Corporation and Germany's Oiltanking GmBH.

In the space, Transpole Logistics, another North Indian logistics player was planning a stake sale and three PE firms, namely Tata Capital, ChrysCapital and Everstone were identified as potential buyers.

Future Supply Chain Solutions was also set to raise R100 Cr of private funds this year.

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November 30, 2012 03:09 PM

Seems like the analyst are being driven by hoard mentality. Came across a logistics company with fudged balance sheets, inflated dubious figures from valuation of sister concern being merged and not an iota of corporate governance. Despite we rejecting the offer for equity participation, came to know that the leading Infrastructure Finance corporation funded the same project which should have been in the dustbin. Wake up call for many ????? - Posted by Rajesh

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