TVS Sriram Growth Fund buy minority stake in Landmark for Rs 65 cr

New Delhi, Nov 4 : Tata Group firm Trent Ltd today said TVS Shriram Growth Fund I has acquired a minority stake in its subsidiary firm Landmark Ltd for Rs 65 crore.

Landmark Ltd is a leading book and music retail chain, operating over 20 stores, many of which are large format stores, across leading cities in the country.

''We are excited about the equity investment into Landmark, and look forward to partnering with TVS Shriram Growth Fund in our journey to scale up the Landmark’s retail business,'' Mr Noel N Tata, Managing Director of Trent Ltd and Chairman of Landmark said in a statement.

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, the statement said.

In fiscal year ending March 31, 2009, Landmark had gross revenues of Rs 196 crore.

TVS Shriram Growth Fund I is a domestic fund, sponsored by TVS Group and Shriram Group.

--UNI

(c) 2009 Published with permission from United News of India.
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