Landmark receives investment of Rs 65 cr from TVS Shriram Fund

Mumbai, Nov 4 : TVS Shriram Growth Fund I is investing Rs 65 crore in leading book and music retail chain Landmark to take a significant minority equity stake.

Landmark currently operated 20 stores, most of them were in large format forms functioning from leading cities with a retail space of over two lakh sq ft.

Commenting on the investment, Mr Noel N Tata, Managing Director of Trent Limited and Chairman of Landmark, said the fresh infusion would enable to scale up the retail business of the book and music chain.

Announcing the investment, Mr Gopal Srinivasan, founder and Chairman of TVS Capital Funds Limited, the investment manager of the Fund, said, ''Landmark is a marquee investment for us and we are excited to enable the next wave of growth at one of the leading specialty retailers in India.'' TVS Shriram Growth Fund I is targeting consumer consumption driven opportunities, like organised retail businesses, and Landmark is the first investment of the Fund in retail segment.

Landmark Limited started as a Chennai-based company that was established in 1987 as a book store at Apex Plaza in Chennai.

Landmark operates stores across multiple formats, including 'Big-Box' stores in metros, airport and hotel stores. In fiscal year ending March 31, 2009, Landmark had gross revenues of Rs 196 crore.

--UNI

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