PNN
Mumbai (Maharashtra) [India], November 10: Tata Motors Finance (TMF), one of India's leading automotive financiers, has formalized a strategic funding pact with Pallia Trans Logistics Ltd., a major player in the Car Carrier logistics segment. The operating scope of the comprehensive credit line contains a repurchase and refinance structure amounting Rs 22 Crores. The development marks a significant partnership milestone, further strengthening the long-standing association between both entities.
This capital infusion has empowered Pallia Trans Logistics Ltd. to complete strategic acquisition of assets of a logistics company in the Car Carrier space, facilitating the company's expansion plans, and enabling them to meet the surging demand, particularly in the backdrop of festive season.
"We are excited about the opportunities and prospects this partnership presents" said Vipul Nanda, Chairman and Managing Director - Pallia Trans Logistics Ltd. He added, "Teaming up with Tata Motors Finance for this strategic funding arrangement marks a remarkable leap forward for us. TMF's speed and precision in structuring the transaction proved to be a key differentiator, enabling us to timely complete our planned asset acquisition. This acquisition will steer our growth trajectory and elevate our capabilities to provide even more reliable and efficient logistics services to our clients across India."
Samrat Gupta, MD & CEO, Tata Motors Finance, emphasized the enduring relationship between both companies and expressed his delight on the development, saying, "Tata Motors Finance shares a decade long relationship with Pallia Trans Logistics Ltd. Our strategic collaboration with Pallia Trans Logistics Ltd. not only underscores our growing influence in the pre-owned Commercial Vehicle financing but also consolidates our position as a life cycle financier offering tailored solutions that fully align with the diverse needs of our customers. Upholding the renewed spirit of Winning Together, we are committed to foster growth within the automotive and logistics space."
Tata Motors Finance Limited (TMFL) is the leading and most preferred financial Institution engaged in financing the entire range of Tata Motors Commercial Vehicle. It is a non-deposit taking systemically important (ND-SI) NBFC. TMFL is one of the pioneers of vehicle financing established way back in 1957 under a different name. The company has a strong footprint across India and operates through its own 350+ branch networks, in addition to Tata Motors dealers' sales outlets. TMFL's business interests are focused on benefiting the parent company and its strategic partners within the Tata Motors eco-system.
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