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

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