Tano capital to invest Rs 80 cr in Shree Shubham Logistics

MUMBAI: Agri logistics company Shree Shubham Logistics today said private equity fund Tano Capital has agreed to invest Rs 80 crore into the company and the fund will be used for expansion.

"We have signed an agreement with Tano India Private Equity Fund II to raise Rs 80 crore to fund our capacity expansion plans," the company, a subsidiary of Kalpataru Power Transmission, said in a statement.

The infusion will be used for implementing expansion plans in Maharashtra, Rajasthan and MP, it said.

The company is at present in Rajasthan, Gujarat and MP, operating and managing 90 warehouses (owned and leased) with storage capacity of around 11 lakh tonne, the statement said.

It is targeting to expand the capacity to 15 lakh tonne by the end of the year and 20 lakh tonne in the next two-three years.

Tano managing director Hetal Gandhi said Shree Shubham Logistics has a differentiated and scalable business model in the agri-logistics space "which drew us to invest in the company".