Indian Extraction Limited (IEL), a prominent player in India's warehousing and logistics sector, has recently raised INR 43.17 crore through a rights issue. The company issued over 97 million fully paid-up equity shares at INR 4.45 per share, inclusive of a premium of INR 3.45 per share. IEL intends to utilise these funds for acquiring land, constructing storage facilities, and expanding its logistics infrastructure. The first phase of its project will commence in Neeva village, Lucknow, focusing on the construction of smart warehouses, cold storage, and silos. IEL has entered into agreements for land acquisition and partnered with construction firms, with an emphasis on sustainability and energy efficiency.Read more

Surat has registered the highest year-on-year growth in warehousing transactions across India during calendar year 2024. According to Knight Frank India's latest report, the city added 1.6 million sq ft of warehousing space, representing a 98% increase over the previous year. Key transactions by companies such as Reliance Retail, Whirlpool, Waaree Energies, Goldi Solar, and Kohler India were instrumental in this surge. Meanwhile, Ahmedabad maintained its position as Gujarat's primary warehousing hub, recording 5.8 million sq ft of transactions, with contributions from major manufacturing and FMCG players. Despite declines in Vadodara and Vapi, the state's warehousing market continues to demonstrate robust growth overall.Read more

NDR InvIT Trust acquired a 0.9 million sq ft Grade A industrial warehouse near Surat, Gujarat, expanding its AUM to 19.01 million sq ft. Advised by JLL India, the deal strengthens NDR InvIT's presence in Western India's growing logistics market. The strategically located park, along the 'golden quadrilateral', benefits from excellent connectivity, attracting 3PL operators. The acquisition reflects NDR InvIT's strategy to capitalize on demand for quality industrial spaces, enhancing operational efficiency and investor value. This move signals market confidence and anticipates further investment in Gujarat's infrastructure-driven growth.Read more

Welspun One has successfully deployed INR 2,000 crore from its WOLP Fund 2 across nine Grade A warehousing assets, reflecting strong demand for modern logistics infrastructure in India. The company has expanded the fund through co-investments, targeting commitments of up to INR 1,000 crore, with INR 600 crore already in sight. This rapid deployment within eight months underscores the sector's expansion, driven by e-commerce, manufacturing, and third-party logistics (3PL). With this, the company's portfolio is set to grow to 22 million sq. ft., targeting a net operating income of INR 1,100 crore and assets under management (AUM) of USD 1.3 billion. Additionally, WTC Thane is witnessing strong leasing demand, further strengthening Welspun One's market position.Read more

IKEA has launched a 180,000 sq ft Customer Distribution Centre (CDC) in Gurugram, enhancing order fulfillment efficiency across Delhi-NCR. Developed with Rhenus, the facility enables 24-hour delivery for over 7,000 IKEA products and is strategically located 35 km from the airport for seamless last-mile logistics. Aligned with IKEA's sustainability goals, the CDC features eco-friendly initiatives like paper pallets, rainwater harvesting, and a 100% EV delivery target. With INR 10,500 crore invested in India, IKEA plans online sales in Delhi-NCR by 2024 and physical stores in Gurugram and Noida by 2025, further strengthening its market presence.Read more

StarBigBloc Building Material, a group company of BigBloc Construction, has acquired 57,500 square metres of land in Khargone, Madhya Pradesh, for INR 6 crore to set up a greenfield AAC block plant. The company plans to raise its production capacity from the existing 250,000 cubic metres per annum to more than 1.2 million cubic metres per annum in the next 4-5 years. This growth is in line with its growth strategy, with emphasis on geographic expansion, R&D, and market visibility. BigBloc Construction is expecting revenue of INR 428 crore by FY27-28, underpinned by its fundraising plans through an SME IPO or preferential issue approved in the past. The step also indicates increasing demand for AAC blocks, supported by government infrastructure projects and the company's steady financial performance.Read more

CCI Group has reportedly planned an investment of more than INR 640 crore for developing over 2 million square feet of warehousing space in the second phase of its Chennai logistics hub. This will take the total investment made on the facility to INR 900 crore, increasing its overall capacity to 3 million square feet. The development will take place over 85 acres in the Polivakkam locality within the next 15 months. The facility will include both standard requirement warehouses and built-to-suit (BTS) segments, catering to industries such as e-commerce, automotive, FMCG, and manufacturing. The company aims to capitalise on Chennai's growing prominence as a logistics and supply chain hub. The expansion will be funded through a combination of promoter equity and construction finance.Read more