Reliance exits Indian courier service for 2.4x return

Additionally, GeoPost has invested directly into DTDC to bring its total holding to 42%.

Abhishek Chakraborty, executive director of DTDC, said the deal is strategic in nature and helps both the companies with market access. "We are not present in continental Europe, Russia and the CIS countries, which are very important trading partners of India, while for GeoPost, India is very important as they are building their global network," he said.

DTDC will also get access to the technologies being deployed by GeoPost worldwide.

GeoPost is the express parcels unit of the French postal department La Poste Group. It serves more than 230 countries on behalf of over 300,000 customers in the world.

DTDC's logistics network comprises of over 5,800 channel partners spread across the country and deliveries of 11 million consignments per month in India. It services 240 international locations through its own operations, joint ventures and business associates.

Apart from express documents, the company also operates in the heavy cargo, supply chain solutions and warehousing segments.

DTDC had revenues of INR4.25 billion in 2012 financial year.

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• Topics
• South Asia
• Exits
• India
• Reliance Capital
• Exit
• Logistics
• Transportation