Multiples PE buys minority stake for $35 mn in logistics firm INSTANT-XP

Mumbai-based private equity (PE) firm Multiples Alternate Asset Management has acquired a minority stake in INSTANT-XP, a tech-enabled B2B express logistics provider in India, for $35 million, according to a company press release.

 

The express logistics segment, catering to industries such as retail, e-commerce, and automotive, is among the fastest-growing areas in India’s logistics sector.

 

The company provides Full Container Load (FCL) and Less than Container Load (LCL) services and has established itself as a trusted player with over two decades of experience and relationships with more than 500 clients. 

According to a source, Multiples has purchased an over 30 per cent stake in INSTANT-XP. The logistics provider generated revenues of over Rs 700 crore, added the source.

   

INSTANT-XP, founded by brothers Rajbir Singh and Jasveer Singh, leverages proprietary technology to streamline services for customers, consignors, truckers, and drivers, positioning itself as a critical enabler in India’s evolving logistics ecosystem.

 

“With this investment, the company will further enhance its technological capabilities, accelerate revenue growth, and expand its network and service offerings to meet the evolving needs of our valued customers,” said Jasveer Singh, managing director (MD) and chief executive officer (CEO) of INSTANT-XP.

 

Having established a pan-India express logistics network in a short period, the partnership with Multiples is expected to strengthen INSTANT-XP’s position in the competitive express logistics market, the release stated.

 

“The logistics sector is transforming from simply moving goods to moving them faster and smarter. Customers are re-wiring their supply chain requirements for faster logistical solutions that reduce inventory and provide reliable shipment visibility,” said Sridhar Sankararaman, MD, Multiples Alternate Asset Management.

 

“INSTANT-XP is a proxy play on India’s consumption and industrial activity. This partnership between INSTANT-XP and Multiples will further accelerate the company’s growth while maintaining a strong focus on processes and governance to ensure responsible growth,” he added.

 

Multiples focuses on core sectors such as financial services, pharma and healthcare, consumer and technology, and the green economy. Some of its investment partnerships include ACKO, Delhivery, and Dream Sports, among others.