Spoton, a major emerging express logistics firm spearheaded by Abhik Mitra (former top executive of TNT India), recently saw change of ownership with its strategic buyout by Samara Capital and Xponentia. In an exclusive brief conversation with Ritwik Sinha, Mitra explains the implications of this development even as he did not furnish several details. Edited excerpts…
There is a bit of confusion in the marketplace pertaining to the present corporate structure of Spoton after Samara Capital’s intervention. Has it been acquired from India Equity Forum or this is a strategic investment which they have made?
Samara has acquired 100% of IEP’s equity in Spoton and now Samara Capital and Xponentia own 100% of Spoton.
What was the size of the deal?
The size of the deal was Rs 550 crores. This was reiterated earlier.
How would you cite the present strongholds of Spoton in the marketplace- especially in terms of fleet size, warehousing capacity under your command (owned or leased)? Have you truly acquired a pan-Indian character in operational sense?
Spoton is a Pan India Express network covering more than 20000 pincodes.
How much are you aligned with new age fast growing verticals like retail and e-commerce?
Spoton serves new age verticals like retail and the B2B aspect of e-commerce in a very significant manner.
The implementation of GST – does it give you the freedom to dream big now?
GST has significantly enhanced the potential of the express logistics segment. We are already seeing this in our current growth. We believe this goes on from different sizes of potential to the Road Express business and hence allows us to dream bigger now.
What are those specific milestones you intend to chase in the near to medium run?
Specific milestones will include launch of domestic air in April 2019 and building complete leadership in Road Express segment in the near term.