?Apollo logistics firm looks at fundraising for expansion plans

Integrated logistics solutions provider Apollo LogiSolutions would complete its $120-million dollar fund raising plan to partly finance expansion in the domestic market.

It is also likely to unveil plans to launch an initial public offer by the end of the month.

Besides expanding warehousing space in India and overseas, the company, which is a 90 per cent subsidiary of Apollo International, part of the Onkar Kanwar-promoted Apollo group, would utilise funds for acquisition of one logistics company each in the local as well as international market.

Raaja Kanwar, Vice-Chairman and Managing Director, Apollo International, said, "Growth in logistics-related business lines and improving IT systems within the company are a top priority."

Some funds will be invested to improve liquid logistics business, he added.