The company said that it was now delivering six million packages a month across 667 districts in the country. During the quarter under consideration, its cold chain subsidiary, Gati Kausar India Limited, had raised Rs 150 crore from Mandala Capital AG and Mandala Agribusiness Investments II Limited. Of this, Rs 30 crore had been invested in the form of equity shares and compulsory convertible preferential shares, while the remaining Rs 120 crore would be invested in the form of non-convertible bonds.
“The investment in Gati Kausar will give us the impetus to position ourselves as the end-to-end solution provider for the cold chain industry. We are confident that with the expansion in the cold warehouses in the country in the next 3 years, we will emerge leaders in this sector too,” Gati founder and chief executive officer, Mahendra Agarwal, stated in a press release on Wednesday.