Delhi International Cargo Terminals Pvt Ltd (DICT), jointly owned by J M Baxi Group and German shipping major Hapag-Lloyd AG, has acquired KSH Distriparks Ltd, operator of Pune’s largest Inland Container Depot (ICD), for $35 million (approximately ₹328 crore).
The acquisition marks a significant expansion of J M Baxi Group’s inland logistics infrastructure and strengthens its presence in the industrial hinterlands of western India.
The KSH Distriparks ICD serves as an integrated logistics hub, offering customs clearance, container storage, warehousing and transportation services. The facility caters to Pune’s substantial containerised cargo market, which handles more than 5 lakh TEUs annually, and serves several leading industrial and manufacturing companies in the region.
“KSH Distriparks Pune ICD is a valuable addition to our growing network of port terminals, CFSs, ICDs and CTO operations. This transaction strengthens our capabilities to provide a more comprehensive offering to our clients and create synergistic value for the overall business. The ICD enhances our dominance in the hinterlands of western India, and we look forward to building meaningful relationships with the customers of the facility,” said Dhruv Kotak, Managing Director, J M Baxi Group.
J M Baxi Container Holdings Pvt Ltd, which is 51 per cent owned by Hapag-Lloyd, is among India’s leading private terminal and inland transport service providers. Its operations span container terminals, multipurpose terminals, inland container depots, container freight stations and rail-based logistics services across the country.
The group operates terminals along both India’s western and eastern coastlines, including at Deendayal Port (Kandla), Jawaharlal Nehru Port (JNPA), Visakhapatnam Port, Paradip Port, V.O. Chidambaranar Port and Haldia Port.
Commenting on the transaction, Rohit Hegde, Managing Director and Chairman of KSH Distriparks, said, “With its partnership with global shipping major Hapag-Lloyd, extensive network across India’s ports and logistics industry, and strong presence at Jawaharlal Nehru Port, we believe J M Baxi Group is best placed to build on the foundation we have created.”
Hapag-Lloyd is the world’s fifth-largest container shipping line, and its partnership with J M Baxi provides the group with access to a strong global shipping network.
Avendus Capital acted as the exclusive financial advisor to KSH Distriparks and its shareholders for the transaction.
According to Avendus Capital, KSH Distriparks has established a strong position in Pune’s logistics ecosystem, backed by strategically located infrastructure, long-standing customer relationships and an experienced management team.
“The transaction reflects the continued interest in high-quality logistics platforms that are integral to India’s industrial and manufacturing supply chains, as investors increasingly recognise the value of strategically located assets,” said Gaurav Arora, Managing Director and Head of Infrastructure & Real Assets Investment Banking at Avendus Capital.
The acquisition underscores the growing strategic importance of inland logistics infrastructure in supporting India’s manufacturing and export ambitions, while strengthening integrated connectivity between industrial centres, ports and global shipping networks.