British International Investment
7 November 2023

BII’s partial exit from TVS ILP makes room for new strategic partnership

  • BII’s investment led to the implementation of green building practices across all TVS ILP’s warehouses in India
  • BII remains as significant minority stakeholder to support TVS ILP’s growth plans

British International Investment (BII), the UK’s development finance institution and impact investor, has successfully mobilised private capital to support India’s warehousing sector by selling part of its stake in TVS Industrial and Logistics Parks (TVS ILP) to Lingotto, an international investment company owned by Exor. N.V.

TVS ILP helps to facilitate trade in underserved markets in India by developing investment-grade warehouses which provide efficient logistics facilities. BII has committed to the company since 2020 to support the construction of new warehouses, create jobs and promote green building standards.

Srini Nagarajan, Managing Director & Head of Asia at British International Investment said: “Our partnership with TVS ILP is a great example of how BII invests for positive social and environmental outcomes. Together, we have helped not only to create job opportunities but also to  promote green building practices across all of TVS ILP’s warehouses, resulting in lower energy and water consumption and reduction in greenhouse emissions. As we welcome Lingotto to the partnership, we remain committed to supporting TVS ILP’s growth as a leader in the integrated warehousing sector.”

Ashish Kaushik, Partner at Lingotto, said: “TVS ILP is a pioneer in providing logistics and infrastructure solutions to the warehousing and logistics parks industry.  The company is now poised for the next phase in its pan-India growth and we are excited to join the company in accelerating their growth trajectory.  We look forward to working closely with TVS ILP.”

Ravi Swaminathan, Vice Chairman of TVS Industrial and Logistics Parks Pvt Limited., said: “Our vision is to create tech-enabled infrastructure solutions to the warehousing and logistics parks industry. We have delivered robust growth for nearly two decades due to evolving customer demands for more sustainable and innovative products.  Now is the time to bring the company to the next level by strategically investing in its future. To achieve this, we welcome Lingotto as a valued strategic partner.  The Board is convinced that this action will secure the long-term success of the company and benefit all stakeholders.”

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