Apollo Logisolutions Raises Rs 485 crore from Piramal Finance

Apollo LogiSolutions Thursday said it has raised funds amounting to Rs 485 crores from Piramal Finance subsidiary of Piramal Enterprise.

The company "plans to use this growth capital in various capacities such as organic growth of existing business, ramping up of new business ventures as well as consolidation of ownership in various joint ventures. Piramal Finance Limited will be a long term investor with the company and with this investment, Apollo plans to grow rapidly in the next 5-6years," it said.