An affiliate of the private equity company Warburg Pincus and other shareholders have agreed to sell 96% of Mumbai-based Stellar Value Chain Solutions to CEVA Logistics, according to an announcement.

Stellar Value Chain Solutions, founded in 2016 by Anshuman Singh, has become a significant regional leader in contract logistics with omni-channel fulfilment services in the eCommerce, automotive, food products, consumer, fashion and retail, healthcare, and pharmaceuticals business segments.

Anshuman Singh will continue driving this business following the acquisition.

CEVA will acquire approximately 7,700,000 square feet of space across more than 70 facilities in 21 cities across India.

In addition, CEVA will inherit the Stellar workforce of nearly 8,000 full-time and temporary employees, who have strong expertise and relationships in India.