Private equity firm Samara Capital is in final stage of discussions to buy Spoton Logistics Pvt. Ltd for $80 million (Rs 525 crore), The Times of India reported, citing people aware of the development.
PE firm India Equity Partners holds a stake of around 98% stake in Spoton Logistics while the companys management owns the rest, according to the report.
Bengaluru-based Spoton was formed in late 2011 when India Equity Partners bought the domestic road business of Dutch freight and logistics giant TNT Express in India. The PE firm has invested Rs 180 crore in Spoton, the report said.
Spoton Logistics was previously on the radar of another PE firm. In August 2017, VCCircle reported that True North was in an initial stage of discussions to buy a majority stake in Spoton.
Samara is investing out of its second fund. The PE firm had raised $263 million for its first fund and $300 million for its second fund. Last month, The Economic Times reported that Samara Capital was looking to float a $550 million fund by the end of 2018.