The Venture Intelligence Blog

TVS Shriram Growth Fund-I, managed by Chennai-based TVS Capital, has announced that it has completed its Rs.35 crore investment commitment (originally announced in Nov-09) in Facilities Management Service provider Dusters Total Solutions Services (DTSS), with a balance Rs.10 crore tranche. Formed by merging two companies run by Shamsher and Jasmer Puri, the Bangalore-based DTSS has offices in Mumbai and other cities across 10 states. Simultaneously, it was also announced that DTSS has acquired Facilitec Services, a Singapore- and Bangalore-based FMS provider specializing in the Service, Operations and Maintenance of Electrical and Mechanical Systems. Following the acquisition, KC Gupta, MD of Fascilitec Services will head the M&E vertical in DTSS.

Edited Extracts from Press Release: TVS Capital, via its TVS Shriram Growth Fund I, is taking a significant minority equity stake with an investment of Rs.65 crores in Landmark Limited, a leading book and music retail chain. Landmark, which is a subsidiary of the Tata Group retail firm Trent Limited., currently operates over 20 stores over 2 lakh square feet of retail space. For the year ending March 31, 2009, Landmark had gross revenues of Rs.196 crores. Noel N. Tata, Managing Director of Trent Limited and Chairman of Landmark, said, “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.” Gopal Srinivasan, founder and Chairman of TVS Capital 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. Under the leadership of Mr. Noel Tata, we believe Landmark is well p...