Jai Narayan's JICS Logistics raises Rs.40 Crore

Jai Narayan's JICS Logistics raises 40 Crore
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Jai Narayan's JICS Logistics raises Rs.40 Crore
Indore: Indore-based JICS Logistics, a company offering warehousing services, has raised 40 crore from Tara India Fund III, a PE fund managed by IL&FS Investment Managers (IIML), reports Dealcurry. Saffire Capital was the sole advisor to this transaction. The fund will be used for the expansion of the company's operational capacity and reach.

Jai Narayan Jhawar in 1996 incorporated JICS Logistic under Chapter IX of Companies Act 1956. It currently offers warehousing and warehousing management services in 36 cities across India and handles around 25 different commodities. It also provides services like margin financing for commodities stored in its warehouses. It currently manages more than 1.2 million square feet space across 14 locations and plans to expand to 2.4 million square feet agri-warehousing space and 120, 000 square feet of cold storage space in 16 different locations in India.

Infrastructure Leasing & Financial Services (IL&FS) was established in 1987. It has a significant focus on investment banking, asset management and infrastructure financing. Key IL&FS institutional shareholders include the State Bank of India, Housing Development Finance Corporation of India, Life Insurance Corporation of India, ORIX Corporation-Japan and Abu Dhabi Investment Authority. It has a team of 58 professionals who has a proven deal sourcing capability driven by its considerable experience in investing in India.

In this April,IL&FS exited container freight management company Continental Warehousing Corporations, a flagship company of NDR Group. They are currently raising $300 million capital for its 'growth pool' Tara India Fund IV. The fund will provide capital to companies across sectors with core sector targets being manufacturing, retail and logistics.

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