Capt Gopinath seeking investments for new cargo venture - may dilute 26 per cent stake
05 Jul 2008
Aviation pioneer, Capt GR Gopinath, founder-promoter of the country's first low-fare airline, Simplifly Deccan, (ex-Air Deccan), has asked investment banking firm Edelweiss Capital Ltd to seek out private-equity investors for his new freighter venture, Deccan Cargo.
According to reports, Capt Gopinath, who owns 100 per cent of Deccan Cargo, may dilute up to 26 per cent of his stake. He may also be mulling an eventual listing for the venture.
Industry sources would suggest that Deccan Cargo may look for investments of around $200 million (about Rs863 crore) over the coming three years.
It would also have commissioned Indian IT major, Infosys Technologies Ltd, to design and implement information technology that will allow Deccan Cargo to ''track and trace'' facilities for customers, and also help reduce costs.
The new venture has been registered as Deccan Cargo and Express Logistics Pvt. Ltd.
''Deccan Cargo will be an end-to-end logistics company,'' Capt Gopinath has said earlier. ''The idea is to connect across the country and other parts of the world in future.''
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