Apeejay Surrendra raises Rs 300 cr for logistics, industrial parks biz

The company said the Rs 300 crore fund has been raised through the Non-Convertible Debentures (NCD) route

Private credit

The fund will fuel the ongoing expansion drive of Apeejay Surrendra Group's realty division Apeejay Real Estate

Press Trust of India New Delhi
The Apeejay Surrendra Group on Thursday said it has raised Rs 300 crore through issuance of debentures for expansion of its logistics and industrial parks business.
In a statement, the company said the Rs 300 crore fund has been raised through the Non-Convertible Debentures (NCD) route.
The fund will fuel the ongoing expansion drive of Apeejay Surrendra Group's realty division Apeejay Real Estate.
BPEA Credit, a leading private alternative investment firm in Asia, has invested in the NCD issued by the Apeejay Surrendra Group.
Karan Paul, chairman of Apeejay Surrendra Group, said, "The government projection to reduce costs in the logistics sector by 10% in the next 5 years, unified policy, and a regulatory environment for end-to-end logistics services make the logistics and warehouse more and more promising. Backed by the government policy and with funds coming in, we are now on a rapid expansion drive."

Apeejay Real Estate has a diverse portfolio including logistics and industrial parks, residential, commercial, hospitality, co-working spaces and business centres, service apartments, cultural and educational institutions, and retail across multiple locations.
Its logistics and industrial parks are located in cities like Delhi-NCR, Kolkata, Dankuni, Haldia, and Kalinganagar.
Priti Paul, director, Apeejay Surrendra Group, said: "We believe that the Indian warehousing real estate sector is poised for a meteoric rise..."

The major drivers are government policies, rising demand from third-party logistics and e-commerce players, shifting of users toward larger modern storage space, consumers preferring on-demand solutions and demand for fulfilment centres from omni-channel retailers, she said.
"The funds would augment our current logistics and industrial parks, as well as build new facilities across the country. We are creating Grade-A warehouses with ESG compliance and setting new standards in specifications as well as building built-to-suit as per clients' requirements," she added.
Incorporated in 1910, Apeejay Surrendra Group is a leading business conglomerate with a diversified portfolio including shipping, hospitality, real estate, financial services, knowledge centres, marine clusters and tea.
Apeejay Real Estate is developing over five million square feet of area.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sep 29 2022 | 6:39 PM IST

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