Leap India, a leading enterprise in advanced pooling today said it has raised Rs 200 crore from Piramal Capital and Housing Finance (PCHF), the wholly owned subsidiary of Piramal Enterprises.
PCHF has extended a credit line to Leap India to meet the company's growth requirement over the next 2-3 years.
Leap is a leader in providing pallets and foldable large containers (FLCs) on rent to more than 370 leading corporates from FMCG, beverages, auto and pharma industry. The company has demonstrated 70 per cent growth in the deployment of pallets and FLCs across the corporates in the last five
years of its existence.
"Our investment in Leap India is aligned with our strategy of partnering with selected operators with a validated track record as we expand our presence in the logistics sector through the corporate finance vertical," PCHF
managing director Khushru Jijina said.
"With the funds raised, we will be able to cater the underserved need for the palletisation in the India market. Going forward, we envisage our business to grow 70 per cent yoy. Subsequent to securing this line of credit, we are also
seeking to raise further equity In order to aid our expansion plans for the next two years," Leap India managing director Sunu Mathew said.
Leap India earlier raised Rs 110 crore equity in series A and series B funding and debt of Rs 200 crore.
First Published: Aug 29, 2018 8:26 PM IST
