Indian distribution and supply chain solutions provider, Gati plans to raise INR 120 crore for expansion of e-commerce business. “This is primarily for e-commerce expansion and also for FCCB (Foreign Currency Convertible Debentures) settlement depending up on the final outcome of court process and RBI response,” Gati’s CFO Sanjeev Jain said.
The company’s revenue for the October-December 2014 quarter stood at INR 428 crore against INR 374 crore during same period in the previous year. “Our performance for the third quarter has been good and ends 2014 as a milestone year in our path to achieve high levels of excellence.
“In the e-commerce segment, we continue to perform extremely well and remain confident of sustaining these high growth levels in the coming quarters as well,” Gati Limited’s founder and CEO Mahendra Agarwal said.
Since 1989, Gati offers an integrated express distribution and customized supply chain solutions to customers in different industry verticals.
The company also has a market presence in the Asia Pacific region and other SAARC countries. It is competing with other e-commerce logistics companies like HoliSol, Delhivery, GoJavas, Dotzot and most of all India Post which caters to the maximum number of pin codes in the country.