The pioneer of low cost flying in India, Captain Gopinath has launched the first Indian-owned cargo freighter called Deccan Express Logistics. The initial investment in the venture is USD 25 million and Gopinath is looking to raise another USD 30 million. He says he is in talks with a few investors to offload 24% stake in the logistics venture.
Captain GR Gopinath, Founder, Deccan Cargo & Express Logistics said, “I can't give any names without a non disclosure agreement. We have received term sheets from various investors. I thought I'll close the syndicate after the launch.”
Heplans to raise capital via equity and from debt as well. He said, “Right now I have put USD 25 million and I'll get more from the equity markets after the launch. I think I'll close the syndicate after the launch.”(Money Control)